MURCHISON UNITED NL
ACN 009 087 852
ASX CODE: MUR, AIM CODE: MUU
Telephone: +618 9322 4071, Fax: +618 9322 4073
AIM Release
29 September 2008
Annual Financial Report
Murchison United NL (ASX: MUR, AIM: MUU) wishes to advise that it has released its Annual Financial Report
for 2008. The financial statements are presented following this announcement.
Should you require further information, the full report is available electronically in pdf format for
downloading from the Company's website (www.murchisonunited.com.au).
For further information regarding this announcement, please call Mark Reilly.
..........
Mark Reilly
Managing Director
Murchison's Nominated Advisor for the AIM market is RFC Corporate Finance Ltd.
Contact: Stuart Laing, Ph: +618 9480 2506
MURCHISON UNITED NL
(ABN 59 009 087 852)
BALANCE SHEET
AS AT 30 JUNE 2008
Notes As at As at
30 June 30 June
2008 2007
$ $
ASSETS
Current Assets
Cash and cash equivalents 10 3,653,480 4,067,176
Security deposits 11 7,950 7,950
Prepayments 38,227 8,846
Total Current Assets 3,699,657 4,083,972
Non-current assets
Available-for-sale investments 12 27,760 52,832
Exploration and evaluation expenditure 13 4,361,305 2,106,294
Plant and equipment 14 144,498 39,723
Total Non-Current Assets 4,533,563 2,198,849
TOTAL ASSETS 8,233,220 6,282,821
LIABILITIES
Current Liabilities
Trade and other payables 15 816,503 361,624
Provisions 16 62,234 52,309
Total Current Liabilities 878,737 413,933
TOTAL LIABILITIES 878,737 413,933
NET ASSETS 7,354,483 5,868,888
EQUITY
Issued capital 17 50,871,819 48,104,178
Reserves 18 1,609,952 1,401,393
Accumulated losses 18 (45,127,288) (43,636,683)
TOTAL EQUITY 7,354,483 5,868,888
MURCHISON UNITED NL
(ABN 59 009 087 852)
INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2008
2008 2007
Notes $ $
Other revenue 6 363,768 60,975
Administrative expenses 7 (1,855,798) (1,929,299)
Settlement of Renison Bell Ltd creditors 16 1,425 (1,098)
Net loss before income tax (1,490,605) (1,869,422)
Income tax expense 8 - -
Net loss (1,490,605) (1,869,422)
Net loss attributable to members of the Company (1,490,605) (1,869,422)
Loss per share (cents per share)
- basic loss for the year attributable to ordinary
equity holders of the Company 9 (0.004) (0.006)
- diluted loss for the year attributable to ordinary
equity holders of the Company 9 (0.004) (0.006)
MURCHISON UNITED NL
(ABN 59 009 087 852)
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2008
Issued Accumulated Net unrealised Equity Total
capital losses gains/(loss) benefits Equity
reserve
$ $ $ $ $
At 1 July 2007 48,104,178 (43,636,683) 29,352 1,372,041 5,868,888
Net gain/(loss) on available-
for-sale investments - - (25,072) - (25,072)
Total income/(expense) for
the period recognised
directly in equity - - (25,072) - (25,072)
Loss for the period - (1,490,605) - - (1,490,605)
Total income/(expense)
for the period - (1,490,605) (25,072) - (1,515,677)
Equity transactions:
Share-based payment - - - 233,631 233,631
Issue of ordinary shares 2,953,760 - - - 2,953,760
Transaction costs (186,119) - - - (186,119)
At 30 June 2008 50,871,819 (45,127,288) 4,280 1,605,672 7,354,483
Issued Accumulated Net unrealised Equity Total
capital losses gains/(loss) benefits Equity
reserve
$ $ $ $ $
At 1 July 2006 41,380,905 (41,767,261) - 767,550 381,194
Net gain/(loss) on available-
for-sale investments - - 29,352 - 29,352
Total income/(expense) for the
period recognised directly in
equity - - 29,352 - 29,352
Loss for the period - (1,869,422) - - (1,869,422)
Total income/(expense) for
the period - (1,869,422) 29,352 - (1,840,070)
Equity transactions:
Share-based payment - - - 604,491 604,491
Issue of ordinary shares 7,024,088 - - - 7,024,088
Transaction costs (300,815) - - - (300,815)
At 30 June 2007 48,104,178 (43,636,683) 29,352 1,372,041 5,868,888
MURCHISON UNITED NL
(ABN 59 009 087 852)
CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2008
Notes 2008 2007
$ $
Cash flows from operating activities
Payments to suppliers and employees (1,501,702) (1,292,936)
Interest received 340,253 57,935
Net cash flows used in operating activities 19 (1,161,449) (1,235,001)
Cash flows from investing activities
Dividend received - 1,211
Payments for purchase of equipment (133,755) (23,146)
Payment for exploration and evaluation expenditure (1,636,616) (1,010,371)
Net cash flows used in investing activities (1,770,371) (1,032,306)
Cash flows from financing activities
Proceeds from issue of shares 2,749,392 5,990,033
Cash received pending share issue - 204,358
Transaction costs relating to issue of shares (231,268) (255,580)
Net cash from financing activities 2,518,124 5,938,811
Net (decrease)/increase in cash and cash equivalents (413,696) 3,671,504
Cash and cash equivalents at the beginning of the financial year 4,067,176 395,672
Cash and cash equivalents at the end of financial year 10 3,653,480 4,067,176
Murchison United N.L
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