8.Acquisition (continued)

Non-controlling interests

In accordance with the consolidated entity's accounting policies, the consolidated entity elected to recognise the non-controlling interests in Laguna Resources NL at its proportionate share of the acquired net identifiable assets.

(ii) Dominion Mining Limited

On 20 October 2010 Kingsgate Consolidated Limited and Dominion Mining Limited signed a Scheme Implementation Agreement for Kingsgate to acquire all of the shares in Dominion via a Scheme of Arrangement. Consideration for the transaction is Kingsgate shares, with Dominion shareholders were offered 0.31 Kingsgate shares for each Dominion share they own.

The acquisition related costs of approximately $4.4 million have been expensed during the half-year ended 31 December 2010.

9. Events occurring after reporting date

(i) Acquisition - Laguna Resources NL

On 15 February 2011 Kingsgate closed its unconditional offer to acquire Laguna shares and announced it had acquired a total of 69.84% interest in Laguna.

(ii) Acquisition - Dominion Mining Limited

On 2 February 2011, as announced to the Australian Stock Exchange, shareholders and option holders of Dominion Mining Limited approved the Scheme of Arrangement. This was subsequently approved by Federal Court of Australia on 4 February 2011. The acquisition date is 2 February 2011.