Roll over icons to start

P + 0

ANNUAL REPORT 2010

Skip Navigation Links
Home
Overview
Management Discussion and Analysis
Sustainable Development
Corporate Governance Statement
Directors' Report
Financial Report
Additional Information
List of Abbreviations
Shareholder Reporting Timetable
Corporate Directory
Skip Navigation LinksFinancial Report > Notes to the Consolidated Financial Statements > Note 9. Investments Held For Trading

note 9. investments held for trading

CONSOLIDATED
2010
US$M
2009
US$M
Current
At fair value:
Options – unlisted-1.0
-1.0

The Consolidated Entity has an investment in MM Mining Plc (MMM), an unlisted public UK company that explores for base metals. At 30 June 2010 the Consolidated Entity holds Nil (2009:20M) warrants. During the year all warrants were cancelled. Each warrant entitled it to acquire one fully paid ordinary share in MMM at an exercise price of 15 GB pence on or before 31 December 2012.

As MMM is unlisted the options were valued using the Black-Scholes option pricing methodology using the most recent market transaction to determine the appropriate underlying value.