INDEPENDENCE GROUP NL ANNUAL REPORT 2017

Notes to the consolidated financial statements 30 June 2017 (continued) 15 Exploration and evaluation Jaguar Operation $'000 Long Operation $'000 Nova Project $'000 Stockman Project $'000 Windward $'000 Other $'000 Total $'000 Year ended 30 June 2017 Opening net book amount 5,250 - 34,100 68,183 - - 107,533 Acquisition of subsidiary - - - - 17,823 - 17,823 Additions 216 603 - - - 2,843 3,662 Assets included in a disposal group classified as held for sale - - - (43,784) - - (43,784) Impairment loss - (492) - (24,399) - - (24,891) Transfer to mine properties in production (216) (111) - - - - (327) Closing net book amount 5,250 - 34,100 - 17,823 2,843 60,016 Year ended 30 June 2016 Opening net book amount 8,235 - - 100,716 - 979 109,930 Acquisition of subsidiary - - 34,100 - - - 34,100 Additions 3,152 7,434 - - - - 10,586 Assets included in a disposal group classified as held for sale - - - - - (979) (979) Impairment loss (2,985) - - (32,533) - - (35,518) Transfer to mine properties in production (3,152) (7,434) - - - - (10,586) Closing net book amount 5,250 - 34,100 68,183 - - 107,533 (a) Impairment The Group recognised impairment charges of $24,891,000 during the current reporting period (2016: $35,518,000). Independence Group NL 59 IGO ANNUAL REPORT 2017— 89 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017