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TERANGA GOLD CORPORATION
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
(US$000's)
Twelve months Fifteen months ended ended December 31, December 31, 2012 2011----------------------------------------------------------------------------Issued capitalAt January 1, 2012 / October 1, 2010 305,412 Shares issued on incorporation of the Company - - Shares issued on the acquisition of the Sabodala gold mine and a regional exploration package - 186,665 Shares issued from public and private offerings - 135,005 Less: Share issue costs - (16,258)----------------------------------------------------------------------------At December 31 305,412 305,412----------------------------------------------------------------------------Foreign currency translation reserveAt January 1, 2012 / October 1, 2010 (935) - Exchange difference arising on translation of Teranga corporate entity (63) (935)----------------------------------------------------------------------------At December 31 (998) (935)----------------------------------------------------------------------------Equity-settled share based compensation reserveAt January 1, 2012 / October 1, 2010 12,599 - Equity-settled share based compensation reserve 3,759 12,599----------------------------------------------------------------------------At December 31 16,358 12,599----------------------------------------------------------------------------Investment revaluation reserveAt January 1, 2012 / October 1, 2010 (1,319) - Impairment of available for sale financial asset 1,319 - Change in fair value of available for sale financial asset, net of tax 5,456 (1,319)----------------------------------------------------------------------------At December 31 5,456 (1,319)----------------------------------------------------------------------------Accumulated income/(loss)At January 1, 2012 / October 1, 2010 (43,375) - Profit/(Loss) attributable to shareholders 79,924 (16,040) Impact of change in accounting policy - (27,335)----------------------------------------------------------------------------At December 31 36,549 (43,375)----------------------------------------------------------------------------Non-controlling interestAt January 1, 2012 / October 1, 2010 (3,713) - Non-controlling interest arising from demerger - November 23, 2010 - (7,036) Non-controlling interest - portion of profit for the period 14,161 3,323----------------------------------------------------------------------------At December 31 10,448 (3,713)----------------------------------------------------------------------------Total shareholders' equity at December 31 373,225 268,669----------------------------------------------------------------------------



