Magnus

Magnus: Independent auditor, Moore Stephens LLP, issued a report on the group's FY13. Issues relate mainly to the uncertainty surrounding the outcome of the ongoing legal proceedings relating to the Group’s ownership interest in PT Batubara Selaras Sapta (PT BSS). Magnus was unable to provide any information due to its ongoing litigations relating to Magnus’ ownership interest in PT Batubara Selaras Sapta (PT BSS). Unsettled figures are 1) a substantial investment of $24.5m in coal concession rights included as part of its book value, and 2) $7m deferred tax liability. In addition, the recoverability of an 3) investment amount of $645k and 4) the amount owed of $1.2m from subsidiary APAC Coal Limited, which is the ultimate parent of PT BSS, is also open to question due to similar reasons.