22. INTANGIBLE ASSETS (NON-CURRENT) Description of the Consolidated Entity’s intangible assets Development costs Nickel royalties Development costs are carried at cost less accumulated amortisation and accumulated impairment losses. This intangible asset is  still in the development stage. It has been assessed as having a finite life and will be amortised using the straight line method over  the life of the project. This intangible asset relates to the Rentails Development Project. Nickel royalties are carried at cost less accumulated amortisation and accumulated impairment losses. These intangible assets  have been assessed as having a finite life and are amortised using the units of production method over the life of the assets.  The amortisation has been recognised in the income statement in the line “cost of sales”. If an impairment indication arises, the  recoverable amount is estimated and an impairment loss is recognised to the extent that the recoverable amount is lower than the  carrying amount. Intangible assets (nickel royalties) were disposed of by the Consolidated Entity during the previous year. 93  NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2011 2011 2010 Development projects at cost At cost 2,648,484  2,648,484  Net carrying amount 2,648,484  2,648,484  Nickel royalties At acquisition value - 7,142,857  Accumulated amortisation - (6,450,976) Accumulated Impairment - (691,881) Net carrying amount - - Total intangible assets 2,648,484  2,648,484  Movement in intangible assets Development projects at cost At 1 July net of accumulated amortisation 2,648,484  5,240,820  Additions - 56,149  Disposals (refer to note 38) - (2,648,485) At 30 June net of accumulated amortisation 2,648,484  2,648,484  Nickel royalties At 1 July net of accumulated amortisation - 14,868,284  Additions - - Disposals - (14,483,315) Amortisation charge for the year - (384,969) Impairment - - At 30 June net of accumulated amortisation - -