香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 （於百慕達註冊成立之有限公司） （股份代號：621） 截至二零二五年三月三十一日止年度 全年業績公告 全年業績 Taung Gold International Limited（壇 金 礦 業 有 限 公 司*）（「本公司」）董 事 會（「董事會」） 欣 然 宣 佈 本 公 司 及 其 附 屬 公 司（統 稱「本集團」）截 至 二 零 二 五 年 三 月 三 十 一 日 止 年 度 之 經 審 核 綜 合 全 年 業 績（連 同 截 至 二 零 二 四 年 三 月 三 十 一 日 止 年 度 之 比 較 數 字）如 下： 綜合損益及其他全面收益表 截至二零二五年三月三十一日止年度 | | | | | | | | | | | | | 二零二五年 | 二零二四年 | | --- | --- | --- | --- | --- | --- | --- | ...

Financial Performance - The company reported a net loss of HKD 8.539 million for the six months ended September 30, 2024, compared to a net loss of HKD 9.904 million in the same period last year[5] - Total comprehensive income for the period was HKD 168.414 million, a significant improvement from a comprehensive loss of HKD 181.751 million in the previous year[5] - Basic and diluted loss per share for the period was HK 0.04 cents, an improvement from HK 0.05 cents in the same period last year[8] - The company reported a basic and diluted loss per share of HK$0.04 for the period, compared to HK$0.05 in the same period last year[60] - Total pre-tax loss for the period was HK$8.539 million, including unallocated other income of HK$1.008 million and unallocated corporate expenses of HK$5.441 million[36] - Total pre-tax loss improved from HK$9.904 million in 2023 to HK$8.539 million in 2024[39] - Other income decreased from HK$1.593 million in 2023 to HK$1.157 million in 2024, primarily due to lower bank deposit interest income[42] - Net other gains and losses improved significantly, from a net loss of HK$301,000 in 2023 to a net gain of HK$354,000 in 2024[42] - Employee costs (including directors' remuneration) decreased slightly from HK$5.652 million in 2023 to HK$5.474 million in 2024[47] Assets and Liabilities - The company's mining assets increased to HKD 2.707 billion as of September 30, 2024, up from HKD 2.529 billion as of March 31, 2024[11] - Total assets less current liabilities stood at HKD 2.832 billion as of September 30, 2024, compared to HKD 2.663 billion as of March 31, 2024[11] - The company's equity attributable to owners increased to HKD 2.261 billion as of September 30, 2024, from HKD 2.128 billion as of March 31, 2024[13] - Non-controlling interests in the company's equity rose to HKD 558.533 million as of September 30, 2024, up from HKD 523.292 million as of March 31, 2024[13] - The company's reserves increased to HKD 2.079 billion as of September 30, 2024, compared to HKD 1.946 billion as of March 31, 2024[13] - The company's capital-to-debt ratio is 0 as of September 30, 2024, with total assets of HKD 2,839,791,000[62] - The company has no outstanding bank borrowings or bank financing as of September 30, 2024[62] Cash Flow and Liquidity - Operating cash outflow increased to HKD 21.485 million in the six months ended September 30, 2024, compared to HKD 11.302 million in the same period in 2023[17] - Cash and cash equivalents decreased by HKD 24.745 million in the six months ended September 30, 2024, compared to a decrease of HKD 12.009 million in the same period in 2023[17] - The company's cash and cash equivalents at the end of the period were HKD 84.179 million, down from HKD 108.868 million at the beginning of the period[17] - Cash and cash equivalents decreased to HKD 84,179,000 as of September 30, 2024, from HKD 108,868,000 on March 31, 2024[62] Financial Reporting Standards - The company applied new Hong Kong Financial Reporting Standards (HKFRS) amendments effective from April 1, 2024, with no significant impact on financial performance[25] - The company expects that the adoption of future HKFRS amendments will not have a material impact on its financial statements, except for certain specific amendments[27] - The company is evaluating the impact of HKFRS 9 amendments related to the classification and measurement of financial instruments, which may affect disclosures but not financial performance[29] - HKFRS 18, which will replace HKAS 1, aims to improve transparency and comparability of financial performance data, with potential impacts on the company's financial statement presentation[30] Mining Projects - The company reported a segment loss of HK$4.068 million in gold exploration and development in South Africa for the six months ended September 30, 2024[36] - Compared to the same period in 2023, the segment loss in gold exploration and development decreased from HK$4.802 million to HK$4.068 million[39] - The Jeanette project has a total capital cost of USD 1,252 million over a 22-year mine life, with a cash operating cost of USD 521 per ounce[72] - The Evander project has a total capital cost of USD 1,126 million over a 20-year mine life, with a cash operating cost of USD 704 per ounce[80] - Expenditure on the Jeanette project during the period ending September 30, 2024, was ZAR 5.22 million[74] - Expenditure on the Evander project during the period ending September 30, 2024, was ZAR 2.91 million[84] - Jeanette project financing arrangements are expected to be finalized between Q3 2024 and Q2 2025, with construction set to begin in Q3 2025 and production starting in 2028[92] - Evander project construction is planned to commence in 2027, with production expected to start in 2032 and continue until 2049[94] Corporate Governance and Compliance - The company has complied with the Corporate Governance Code as outlined in Appendix C1 of the Listing Rules for the six months ended September 30, 2024[108] - No directors or key executives held any interests or short positions in the company's shares or related securities as of September 30, 2024[100] - The company has no knowledge of any employees violating the written guidelines on securities trading[110] - The audit committee, consisting of three independent non-executive directors, discussed accounting principles, internal controls, risk management, and financial reporting with the company's management[111] - The audit committee reviewed and discussed the unaudited consolidated financial statements for the six months ended September 30, 2024, with the company's management[111] - The company or its subsidiaries did not purchase, sell, or redeem any shares or other listed securities during the reporting period[112] Shareholding and Ownership - Goldborn Holdings Limited holds 11.03% of the company's issued shares as of September 30, 2024[102] - Mandra Materials Limited, Mandra Esop Limited, and Woo Foong Hong Limited collectively hold 5.89% of the company's issued shares, with Zhang Songyi owning 50% of these entities[102] - The company has not issued or exercised any share options under the 2020 Share Option Plan as of September 30, 2024[99] Risk Management and Strategy - The company focuses on reducing business risks by maintaining long-term relationships with established clients[62] - The company is monitoring foreign exchange risks and may consider hedging if deemed necessary[65] - The company is identifying short-term gold mining assets for potential acquisition[67] - The company is engaging with potential investors, including Chinese state-owned enterprises, for investment in its mining assets, with several confidentiality agreements signed[94] Employee and Operational Details - The total number of employees as of September 30, 2024, is 24, consistent with the previous count on March 31, 2024[98] - No interim dividend was declared for the six months ended September 30, 2024, consistent with the previous year's policy[61] - The report was issued by the Chairman and Executive Director of Tanjin Mining Limited on November 28, 2024[113]

Financial Performance - For the six months ended September 30, 2024, the company reported a total revenue of HKD 1,157,000, a decrease of 27.3% compared to HKD 1,593,000 for the same period in 2023[2] - The company recorded a pre-tax loss of HKD 8,539,000, which is an improvement of 13.8% from a pre-tax loss of HKD 9,904,000 in the previous year[2] - The total comprehensive income for the period was HKD 168,414,000, compared to a comprehensive loss of HKD 181,751,000 in the same period last year[6] - Basic and diluted loss per share for the period was HKD 0.04, unchanged from the previous year[6] - The company reported a loss attributable to shareholders of approximately HKD 7,400,000, compared to a loss of HKD 8,876,000 for the same period in 2023, representing a decrease in loss of about 16.6%[48] - The basic and diluted loss per share for the six months ended September 30, 2024, was HKD 0.04, compared to HKD 0.05 for the same period in 2023[48] Assets and Liabilities - The company's net assets increased to HKD 2,819,418,000 as of September 30, 2024, up from HKD 2,651,004,000 as of March 31, 2024[18] - The company's non-current assets totaled HKD 2,744,089,000, an increase from HKD 2,564,448,000 as of March 31, 2024[15] - As of September 30, 2024, the company had no outstanding bank borrowings, maintaining a capital debt ratio of zero, with total assets approximately HKD 2,839,791,000[50] Cash and Cash Equivalents - The company reported cash and cash equivalents of HKD 84,179,000, down from HKD 108,868,000 at the end of the previous reporting period[11] - The company’s cash and cash equivalents balance as of September 30, 2024, was approximately HKD 84,179,000, down from HKD 108,868,000 as of March 31, 2024[50] Expenses - The company’s administrative and operating expenses decreased to HKD 10,012,000 from HKD 11,153,000 in the previous year, reflecting a cost reduction strategy[2] - The company’s total expenses for the six months ended September 30, 2024, included employee costs of HKD 5,474,000, slightly down from HKD 5,652,000 in the same period of 2023[41] - The company reported a decrease in bank deposit interest income to HKD 1,013,000 for the six months ended September 30, 2024, down from HKD 1,337,000 in the same period of 2023[38] - The company’s financial expenses related to lease liabilities interest were HKD 29,000 for the six months ended September 30, 2024[34] Dividends - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2024, compared to no dividend for the same period in 2023[42] - The board does not recommend the payment of an interim dividend for the six months ended September 30, 2024[49] Projects and Operations - The Jeanette project has an estimated total capital cost of USD 1,252 million and a cash operating cost of USD 521 per ounce of gold[58] - The feasibility study for the Jeanette project concluded that it should be executed in phases, with a projected gold extraction of 6.4 million ounces over a 22-year mine life[58] - The company has not conducted any mining or production activities during the review period[55] - The company is focusing on updating mining methods and cost data for the Jeanette project in collaboration with Minxcon, a reputable mining service provider in South Africa[54] - The company has received approval for the second five-year social and labor plan related to the Jeanette project, aimed at alleviating poverty in surrounding communities[54] - The Evander project has extracted 4.1 million ounces of gold during its lifespan, with an estimated initial capital cost of $875 million and total capital cost of $1,126 million[63] - The cash operating cost for the Evander project is $704 per ounce, while the sustainable total cost is $754 per ounce, and the total cost is $991 per ounce[63] - Total expenditure for the Jeanette project as of September 30, 2024, amounts to 5.22 million Rand, with specific costs including 1.75 million Rand for consultants and service providers, 2.90 million Rand for personnel, and 0.57 million Rand for indirect expenses[60] - The company plans to finalize the EPC contract for the Jeanette project by December 2024, with construction expected to commence in Q3 2025 and production starting from 2028 to 2049[72] - The Evander project is set to undergo a research phase for mining plans, including dewatering operations, from Q3 2025 to Q4 2025[73] - The company has engaged Minxcon to update the cost data for the Evander project, which will cover capital costs and engineering quantities[66] - The Jeanette project aims to secure financing arrangements with stakeholders between Q3 2024 and Q2 2025[72] - The company has committed to focusing on the Jeanette project due to its lower capital costs and quicker initial production timeline compared to the Evander project[70] - The Evander project is expected to have a mining lifespan of 20 years[63] - The company plans to notify shareholders of any significant developments regarding the projects as they progress[70] - The company engaged with multiple potential investors regarding its mining projects in late September 2024, including several state-owned enterprises from China[75] - The average time from discovery to production for mines is approximately 16 years, with an increasing trend in the average construction time for mines[75] Governance and Compliance - The company has adhered to the corporate governance code as of September 30, 2024, for the past six months[77] - The audit committee, composed of three independent non-executive directors, has discussed accounting principles, internal controls, risk management, and financial reporting matters with management[81] - There were no purchases, sales, or redemptions of the company's listed securities during the reporting period[82] - The interim report will be published on the relevant websites, containing all information required by the listing rules[83] Financial Reporting Standards - The company has applied new amendments to Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial position or performance for the period[23] - The company expects that the adoption of new Hong Kong Financial Reporting Standards will not have a significant impact on its financial position or performance[27] - The company anticipates that the new financial reporting standards will enhance the transparency and comparability of financial performance information[29] - The company has not recognized any tax provisions for both Hong Kong and South Africa due to the absence of taxable profits during the periods[39]

Financial Performance - For the six months ended September 30, 2023, the company reported a loss before tax of HKD 9,904,000, compared to a loss of HKD 7,942,000 for the same period in 2022, representing a 24.5% increase in losses[3] - The net loss attributable to the owners of the company was HKD 8,876,000 for the period, compared to HKD 4,379,000 in 2022, indicating a 102.3% increase in losses[4] - The total comprehensive loss for the period was HKD 181,751,000, a decrease from HKD 622,699,000 in the same period last year, showing a reduction of 70.8%[4] - The basic and diluted loss per share for the period was HKD 0.05, compared to HKD 0.02 in the previous year, indicating an increase in loss per share of 150%[4] - The company reported cumulative losses of HKD (11,302) thousand for the period, reflecting ongoing operational challenges[12] - The company reported a basic loss attributable to owners of approximately HKD 8,876,000 for the six months ended September 30, 2023, compared to a loss of HKD 4,379,000 for the same period in 2022, representing an increase in loss of 102%[39] Income and Expenses - Total other income increased to HKD 1,593,000 in 2023 from HKD 800,000 in 2022, marking a significant growth of 99.1%[4] - The company's administrative and operating expenses rose to HKD 11,153,000, up from HKD 8,365,000 in the previous year, reflecting a 33.5% increase[4] - The company recorded total other income of HKD 1,593,000 for the six months ended September 30, 2023, compared to HKD 800,000 for the same period in 2022, representing a 99% increase[26] - The company reported total expenses of HKD 6,041,000 for the six months ended September 30, 2023, which includes unallocated corporate expenses[21] Cash Flow and Assets - The company's cash and cash equivalents decreased to HKD 121,385,000 from HKD 136,708,000, representing a decline of 11.2%[7] - As of September 30, 2023, the company's total assets less current liabilities stood at HKD 2,635,854,000, down from HKD 2,817,366,000 as of March 31, 2023, a decline of 6.5%[8] - Non-current assets totaled HKD 2,517,110,000 as of September 30, 2023, compared to HKD 2,683,639,000 at the end of the previous fiscal year, a decrease of 6.2%[7] - The company's equity attributable to owners decreased to HKD 2,105,806,000 from HKD 2,248,520,000, reflecting a decline of 6.3%[8] - The total cash and cash equivalents at the end of the period decreased to HKD 121,385 thousand from HKD 150,303 thousand in 2022[12] - The net decrease in cash and cash equivalents for the period was HKD (12,009) thousand, compared to HKD (21,795) thousand in the prior year[12] Project Developments - The Jeanette project has an estimated initial capital cost of USD 771 million, with a total capital cost of USD 1,252 million over its lifespan[48] - The Jeanette project is projected to produce 6.4 million ounces of gold over its lifespan, with a cash operating cost of USD 521 per ounce[48] - The Evander project has an estimated mineral resource of 19.64 million tons containing 4.29 million ounces of gold, with an average grade of 6.80 grams per ton[49] - The Evander project has an estimated initial capital cost of $875 million and a total capital cost of $1,126 million over a 20-year mine life, with cash operating costs of $704 per ounce[51] - The total gold mined during the project life is projected to be 4.1 million ounces, resulting in a total cost of $991 per ounce[51] - The Jeanette project financing phase is expected to be finalized between Q3 2024 and Q2 2025, with construction planned from Q3 2025 to the end of 2027[59] - The Evander project research phase is scheduled for Q3 2025 to Q4 2025, with financing arrangements to be finalized in 2026[60] Corporate Governance - The company has complied with the corporate governance code as of September 30, 2023[70] - The audit committee consists of three independent non-executive directors who reviewed the unaudited consolidated financial statements for the six months ending September 30, 2023[73] - The company has established written guidelines for employees regarding securities trading, which are as stringent as the standard code[71] - There are no known violations of the written guidelines by employees[71] Shareholder Information - The company did not declare an interim dividend for the six months ended September 30, 2023, consistent with the previous year[32] - The board of directors did not recommend the payment of an interim dividend for the six months ended September 30, 2023, consistent with the previous year[40] - As of September 30, 2023, Goldborn Holdings Limited holds 2,001,362,075 shares, representing 11.03% of the total equity[68] - Mandra Materials Limited owns 777,434,722 shares, accounting for 4.28% of the total equity[68] - Mandra Esop Limited has 16,238,369 shares, which is 0.09% of the total equity[68] - Woo Foong Hong Limited possesses 276,530,727 shares, making up 1.52% of the total equity[68] - There are no short positions recorded in the company's shares or related shares as of September 30, 2023[69] Operational Status - The company has not conducted any mining or production activities during the reporting period, focusing instead on project planning and community engagement[43] - The company has a total of 24 employees as of September 30, 2023, consistent with the previous reporting period[62] - The company has not granted or exercised any options under the 2020 share option plan as of September 30, 2023[63] - The company did not purchase, sell, or redeem any of its shares or other listed securities during the reporting period[73]

智通财经APP讯，坛金矿业(00621)发布公告，集团的主要业务为投资控股、矿产贸易及勘探、开发及开采位于南非的金矿及相关矿物。尽管公司的股份暂停买卖，集团的营运在所有重大方面均如常进行。 如第二份季度更新所披露，专家团队及其他专业人士(包括南非采矿专家及财务顾问)正在(其中包括)对Jeanette项目的采矿计划进行审阅和修订，并继续加快对可行性研究进行更新，以编制及落实采矿资产估值及减值评估以及核数师的进一步工作。公司初步估计专家团队的调查结果及评估结果将于2024年3月或左右备妥，全年及中期业绩随后可于2024年四月中旬左右前刊发，而年报及中期报告则可于2024年五月左右前寄发。 然而，董事会希望向公司股东及潜在投资者更新最新情况，由于南非采矿专家正在落实Jeanette项目的采矿计划及现金流预测更新，专家团队的调查结果及评估结果需要延迟。因此，全年及中期业绩的刊发及年报及中期报告的寄发将相应进一步延迟。 根据与专家团队及其他专业人士的最新讨论，并视彼等工作进度及核数师的审核，公司初步预期专家团队的调查结果及评估结果将于2024年四月初前备妥，全年及中期业绩随后可于2024年四月底左右前刊发，而年报及中期 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 （於百慕達註冊成立之有限公司） （股份代號：621） 截至二零二三年三月三十一日止年度未經審核全年業績公告 未經審核全年業績 茲 提 述 本 公 司 日 期 為 二 零 二 三 年 六 月 二 十 九 日 的 公 告（「該公告」），內 容 有 關 延 遲 刊 發 全 年 業 績。除 文 義 另 有 所 指 外，本 公 告 所 用 詞 彙 與 該 公 告 所 界 定 者 具 有 相 同 涵 義。 鑒於下文「未經審核全年業績之審閱」一節所述原因，Taung Gold International Limited （壇 金 礦 業 有 限 公 司*）（「本公司」）及 其 附 屬 公 司（統 稱「本集團」）截 至 二 零 二 三 年 三 月 三 十 一 日 止 年 度 之 全 年 業 績 之 審 核 程 序 尚 未 完 成，而 本 公 司 未 能 根 據 香 ...

Financial Performance - For the six months ended September 30, 2022, the company reported a loss before tax of HKD 7,942,000, an improvement from a loss of HKD 10,858,000 in the same period last year, representing a decrease of approximately 26.5%[6] - The total comprehensive loss for the period was HKD 622,699,000, significantly higher than HKD 68,793,000 in the previous year, indicating an increase of approximately 804.5%[8] - The basic and diluted loss per share for the period was HKD 0.02, compared to HKD 0.05 in the same period last year, indicating an improvement of 60%[8] - The company recorded a basic loss attributable to owners of approximately HKD 4,379,000 for the six months ended September 30, 2022, compared to a loss of HKD 9,726,000 for the same period in 2021, representing a 55% improvement in losses year-over-year[50] - The group reported a total loss before tax of HKD (7,942) thousand for the six months ended September 30, 2022, compared to a loss of HKD (10,858) thousand in the same period of 2021[25] Income and Expenses - Other income increased to HKD 800,000 from HKD 428,000 year-on-year, reflecting a growth of approximately 86.9%[6] - The company reported a significant foreign exchange loss of HKD 614,757,000 during the period, compared to a loss of HKD 57,935,000 in the previous year, reflecting a substantial increase in foreign exchange impact[6] - The net cash used in operating activities for the six months ended September 30, 2022, was HKD (18,134) thousand, compared to HKD (15,210) thousand for the same period in 2021[17] - The net cash used in investing activities for the six months ended September 30, 2022, was HKD (3,103) thousand, a significant decrease from HKD 26,802 thousand in 2021[17] - The net cash used in financing activities for the six months ended September 30, 2022, was HKD (558) thousand, compared to HKD 1,795 thousand in the previous year[17] Assets and Liabilities - The company's non-current assets decreased to HKD 2,649,348,000 from HKD 3,263,383,000, a decline of about 18.8%[11] - The total equity attributable to the owners of the company decreased to HKD 2,249,238,000 from HKD 2,739,897,000, representing a decrease of approximately 17.9%[13] - The company’s total liabilities decreased to HKD 5,157,000 from HKD 7,841,000, a reduction of approximately 34.1%[11] - The company’s cash and cash equivalents as of September 30, 2022, were HKD 150,303,000, down from HKD 163,168,000 at the end of the previous reporting period, a decrease of approximately 7.9%[11] - The total cash and cash equivalents at the end of the period was HKD 150,303 thousand, down from HKD 176,702 thousand at the end of the same period in 2021[17] Project Developments - The Evander project has an estimated mineral resource of 19.64 million tons containing 4.29 million ounces of gold, with an average grade of 6.80 grams per ton[58] - The company invested approximately ZAR 2.02 million in the Evander project during the review period[58] - The Jeanette project has an estimated total gold extraction of 2.89 million ounces, with an initial capital cost of $523.5 million[74] - The project has a mine life of 22 years, with a payback period of 8.7 years[74] - The company focused on the Jeanette project due to its lower capital costs and quicker delivery time for initial production compared to the Evander project[84] Corporate Actions - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2022, consistent with the previous year[41] - The company decided not to proceed with the proposed acquisition and terminated the agreement, resulting in the return of HKD 30,000,000 as a deposit[80] - The company terminated the sale agreement for its 100% interest in HIL due to the potential buyer's inability to provide sufficient funding[93] - The remaining deposit of HKD 30,000,000 is to be returned by the seller by December 31, 2022[80] Governance and Compliance - The company has complied with the corporate governance code during the six months ending September 30, 2022, with minor deviations noted[108] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial statements for the six months ending September 30, 2022[112] - There were no purchases, sales, or redemptions of the company's shares or other listed securities during the reporting period[113] Employee and Shareholder Information - As of September 30, 2022, the total number of employees was 24, consistent with the previous quarter[94] - Goldborn Holdings Limited holds 2,001,362,075 shares, representing 11.03% of the total issued shares[102] - Mandra Materials Limited owns 777,434,722 shares, accounting for 4.28% of the total issued shares[102] - The company has no short positions in its shares or related securities as of September 30, 2022[107] - The new share option plan allows for the issuance of up to 1,815,147,198 shares, representing 10% of the issued share capital as of August 28, 2020[95] - The company has not granted or exercised any options under the new share option plan as of September 30, 2022[95]

Company Transition and Projects - The company transitioned from a gold developer to a gold producer during the reporting period, driven by the development of the Jeanette project[16] - The company is focusing on the Jeanette project while reducing further work and funding on the Evander project due to ongoing travel restrictions[17] - The company continues to evaluate potential gold projects to accelerate its transition to a gold producer, although reviewed assets have not met investment criteria[20] - The company plans to identify short-term gold mining assets for potential acquisition[37] - The company is focused on advancing the engineering, procurement, and construction contracts for the Jeanette project with MCC[37] - The Jeanette project is planned to be executed in phases, with the first phase involving the completion and commissioning of existing infrastructure, targeting a production rate of 30,833 tons per month and an ore grade of 11.92 grams per ton[43] - The second phase of the Jeanette project will involve the development of two new shafts, increasing the production rate to 69,167 tons per month and an ore grade of 11.06 grams per ton[44] - The Evander project has a proven and probable resource of 19.85 million tons with an average gold grade of 8.47 grams per ton, containing 5.41 million ounces of gold[57] - The company has established a joint venture with the Pakistan Border Engineering Organization for the Tanjeel H4 deposit but has decided to focus resources on the Jeanette project due to political delays and COVID-19 impacts[79] Financial Performance - The average gold price for the year was $1,799 per ounce, an increase of approximately 2% compared to 2020[20] - South African gold producers experienced an 18% increase in total revenue to 102 billion Rand, supported by a 10% growth in gold production to 105 tons[20] - The company recorded a basic profit attributable to shareholders of approximately HKD 45,147,000 for the fiscal year ending March 31, 2022, compared to a loss of HKD 526,232,000 for the previous year[30] - The total comprehensive income for the year was approximately HKD 64,655,000, down from HKD 633,122,000 in the previous year, primarily due to foreign exchange differences[32] - The company's total assets as of March 31, 2022, were approximately HKD 3,440,722,000, an increase from HKD 3,311,838,000 the previous year[33] - The company has no outstanding bank borrowings as of March 31, 2022, maintaining a capital debt ratio of zero[33] - The company has not recommended any dividends for the fiscal year ending March 31, 2022[31] - The company remains optimistic about gold prices and the mining industry outlook, driven by factors such as central bank net purchases and strong demand from emerging market jewelry consumers[22] Project Costs and Returns - The initial capital cost for the first phase is estimated at $523.5 million, significantly reduced from the previous estimate of $723.8 million[46] - The total capital cost for the project is estimated at $646.6 million, with a cash operating cost of $471 per ounce and a profit margin of 46.2%[47] - The internal rate of return for the project is projected at 14.1%, with a net present value of $509.9 million at a 5% discount rate[47] - The Evander project's initial capital cost is estimated at $579.3 million, with a total capital cost of $714.7 million and a cash operating cost of $486 per ounce[58] - The internal rate of return for the Evander project is projected at 17.6%, with a net present value of $724.8 million at a 5% discount rate[58] Environmental, Social, and Governance (ESG) Initiatives - The company identified significant environmental, social, and governance (ESG) issues through a materiality assessment, focusing on greenhouse gas emissions and climate change as very important topics[146] - The company reported a direct greenhouse gas emission increase from 7,212 liters in FY2021 to 9,515 liters in FY2022, representing a 32% increase[157] - Indirect greenhouse gas emissions decreased significantly from 95,005 kWh in FY2021 to 24,816 kWh in FY2022, indicating a reduction of approximately 74%[157] - The company has established environmental goals to reduce emissions and resource consumption in daily operations, which were reviewed and discussed by the board[147] - The company adheres to local environmental regulations and has obtained waste management permits for its projects, ensuring compliance with environmental laws[152] - The company has not faced any legal actions for environmental violations during the reporting period, demonstrating compliance with environmental regulations[152] - The board regularly reviews and adjusts strategies to ensure the effectiveness of ESG initiatives and the achievement of environmental goals[147] - The company emphasizes the importance of stakeholder feedback in shaping its ESG strategies and practices[146] - The company has adopted various environmental management measures to mitigate ecological impacts, including comprehensive environmental impact assessments for mining projects[168] - The company recognizes potential climate risks, such as extreme weather events, which could affect mining operations and has developed emergency policies to address these risks[171] Employee and Labor Practices - The company adheres to local labor laws and maintains high employment standards, ensuring fair recruitment practices regardless of personal characteristics[172] - The company provides competitive compensation and fair promotion opportunities based on employee performance evaluations[175] - Total number of employees during the reporting period was 24, with 11 in South Africa and 13 in Hong Kong[181] - Employee turnover rate for the fiscal year 2022 was 0% across all demographics, including gender and age groups[183] - 25% of executive directors and 15% of general employees participated in training programs during the fiscal year 2022[188] - The company has implemented a comprehensive health and safety management policy, ensuring compliance with local laws and providing necessary protective equipment[184] - The company has not employed any child or forced labor during the reporting period and has not faced any legal actions related to labor violations[190] - The company offers a competitive compensation package and attractive benefits, including paid leave and insurance[181] - The company is committed to diversity and equal opportunity, ensuring no discrimination based on race, religion, gender, or disability[178] Community Engagement and Support - Community support initiatives were implemented during lockdowns, assisting local residents with food production and small business development[17] - The company believes in enhancing community quality of life and has implemented educational development programs to positively impact surrounding communities[200] Corporate Governance - The company has established high ethical standards, prohibiting employees from soliciting or accepting bribes or personal benefits[196] - A whistleblowing policy is in place to encourage employees to report any misconduct, with clear guidelines for handling reports confidentially[197] - Employees are trained on ethical business conduct, covering topics such as integrity, confidentiality, and conflict of interest[199] - The company has received annual confirmations of independence from all independent non-executive directors, affirming their independence[135] - The company appointed Guotai Junan (Hong Kong) CPA Limited as the new auditor effective February 23, 2022, following the resignation of Deloitte[138]

Financial Performance - For the six months ended September 30, 2021, the company reported a loss before tax of HKD 10,858,000, a decrease of 11.1% compared to a loss of HKD 12,267,000 in the same period of 2020[5]. - Total comprehensive loss for the period was HKD 68,793,000, compared to a comprehensive income of HKD 184,867,000 in the prior year, reflecting a significant decline[7]. - Other income decreased to HKD 428,000 from HKD 1,249,000, indicating a drop of 65.7% year-on-year[5]. - Administrative and operating expenses were reduced to HKD 10,364,000, down 29.5% from HKD 14,690,000 in the previous year[5]. - The company reported a basic and diluted loss per share of HKD 0.05, consistent with the previous year's loss per share of HKD 0.06[7]. - The total equity attributable to owners of the company decreased to HKD 2,588,474,000 from HKD 2,643,888,000, reflecting a decline of 2.1%[12]. - The company reported a loss attributable to shareholders of approximately HKD 9,726,000 for the six months ended September 30, 2021, compared to a loss of HKD 10,913,000 for the same period in 2020, representing a decrease in loss of about 10.9%[54]. Cash Flow and Assets - Cash and cash equivalents increased to HKD 176,702,000 from HKD 163,140,000, showing a growth of 8.5%[10]. - The net cash used in operating activities for the six months ended September 30, 2021, was HKD (15,210) thousand, compared to HKD (13,931) thousand for the same period in 2020, indicating a decline in operational cash flow[17]. - The net cash generated from investing activities was HKD 26,802 thousand, a significant increase from HKD (1,336) thousand in the previous year, reflecting improved investment performance[17]. - The net cash generated from financing activities was HKD 1,795 thousand, compared to HKD (685) thousand in the prior year, showing a positive shift in financing cash flow[17]. - The total cash and cash equivalents at the end of the period increased to HKD 176,702 thousand from HKD 183,180 thousand, despite a net increase of HKD 13,387 thousand during the period[17]. - The company's non-current assets totaled HKD 3,056,636,000 as of September 30, 2021, a decrease from HKD 3,141,727,000 as of March 31, 2021[10]. Taxation - The company has not recognized any income tax expense for the period, maintaining a consistent tax position[5]. - The group did not make any provisions for Hong Kong profits tax or South African income tax during both periods due to the absence of taxable profits[37]. Strategic Initiatives - The company continues to explore opportunities for market expansion and new product development as part of its strategic initiatives[5]. - The company focused on advancing the Jeanette project and community development activities during the review period, with no mining or production activities conducted[60]. - The company identified potential short-term gold mining assets for acquisition during the review period[60]. - The company has decided to focus resources on the Jeanette project development, halting progress on the Tanjeel H4 deposit in Pakistan due to unclear pre-qualification results and the impact of COVID-19[88]. Project Developments - The Evander project has an estimated total capital cost of USD 714.7 million, with a projected internal rate of return of 17.6%[65]. - The Evander project is expected to produce 4,113,000 ounces of gold over its lifespan, with an average annual production of 309,000 ounces[65]. - The Jeanette project feasibility study estimates a preliminary capital cost of 523.5 million USD (2019) and a total capital cost of 646.6 million USD over a 22-year mine life[79]. - The Jeanette project is expected to produce 2.89 million ounces of gold over its lifespan, with a cash operating cost of 471 USD per ounce and a profit margin of 46.2%[79]. - The internal rate of return for the Jeanette project is projected at 14.1%, with a payback period of 8.7 years[79]. - The phased approach for the Jeanette project reduces initial capital cost estimates from 723.8 million USD to 523.5 million USD[76]. - The feasibility study results for the Jeanette project have been published, leading the company to prioritize the EPC contract for Jeanette over the Evander project[89]. - The EPC contract for the Jeanette project was awarded to MCC with a contract value of $521,546,000, which will be split into two contracts for engineering and construction[95]. Shareholder Information - As of September 30, 2021, Christiaan Rudolph de Wet de Bruin holds 244,650,717 shares, representing 1.30% of the company's issued share capital[103]. - Goldborn Holdings Limited is the largest shareholder with 2,001,362,075 shares, accounting for 11.03% of the total equity[111]. - Gold Commercial Services Limited (GoldCom) holds 1,006,304,384 shares, which is 5.54% of the company's equity[111]. - Mandra Materials Limited and Mandra Esop Limited hold 777,434,722 shares (4.28%) and 16,238,369 shares (0.09%) respectively[111]. - The company has not reported any short positions in its shares or related securities as of September 30, 2021[113]. Corporate Governance - The company has complied with the corporate governance code as of September 30, 2021, except for the non-executive directors' appointment terms[114]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial statements for the six months ending September 30, 2021[118]. - There were no purchases, sales, or redemptions of the company's listed securities during the reporting period[119].

Gold Price and Market Trends - Gold price increased by approximately 25% in USD terms during 2020, with the South African Rand price per kilogram rising by about 23% compared to the previous year[12] - The global economic recovery is uneven, with COVID-19 and geopolitical tensions expected to support stronger gold prices[18] Jeanette Project Development - The company's Jeanette project is progressing with a phased approach to reduce capital requirements and shorten construction time, with significant progress made in basic design negotiations by Q3 2020[11] - The Jeanette project has a total estimated mineral reserve of 7.12 million ounces of gold in the Basal Reef, as per the pre-feasibility study completed in February 2016[36] - The first phase of the Jeanette project is estimated to have an initial construction capital cost of US$523.5 million, with a total capital cost of US$646.6 million over the project life[42] - The Jeanette project's first phase is expected to produce 2.89 million ounces of gold over a 22-year mine life, with a post-tax NPV of US$509.9 million at a 5% discount rate and an IRR of 14.1%[42] - The company's capital efficiency for the Jeanette project is estimated at US$4,017 per ounce, with a cash operating cost of US$471 per ounce and a total sustainable cost of US$666 per ounce[42] - Jeanette project expenses for the fiscal year ending March 31, 2021: consultants and service providers (1.53 million ZAR), staff (4.04 million ZAR), and indirect expenses (1.10 million ZAR)[49] - The Jeanette project's EPC contract with MCC has a bid amount of $521.546 million, with potential adjustments due to scope changes during basic design[77] - The company expects to finalize the total price proposal for the Jeanette project by December 2021, pending shareholder approval[78] Evander Project Development - Evander project's Kimberley Reef area has proven and controlled resources of 19.85 million tons with an average gold grade of 8.47 grams per ton, containing 5.41 million ounces of gold[52] - Evander project's profitability study estimates total gold production of 4,113,000 ounces over the project life, with an annual production of 309,000 ounces at a grade of 6.51 grams per ton[53] - Initial construction capital cost for Evander project estimated at 579.3 million USD, with total capital cost over the project life at 714.7 million USD[53] - Evander project's after-tax net present value at a 5% discount rate is 724.8 million USD, with an after-tax internal rate of return of 17.6%[53] - Evander project's cash operating cost is 486 USD per ounce, with a sustainable total cost of 583 USD per ounce and a total cost of 724 USD per ounce[53] - Evander project's peak annual production estimated at 338,000 ounces of gold with a recovery grade of 7.41 grams per ton and a cash cost of 402 USD per ounce[61] - Evander project's payback period is 3.6 years from the date of first production[53] - Evander project's proven mineral resource is 0.11 million tons with a grade of 10.81 g/t, containing 1.09 tons of gold (0.04 million ounces)[70] - Evander project's controlled mineral resource is 19.75 million tons with a grade of 8.47 g/t, containing 167.18 tons of gold (5.37 million ounces)[70] - Total expenditure for the Evander project for the year ended March 31, 2021, was 5.00 million ZAR, including 3.95 million ZAR for staff and 1.05 million ZAR for indirect expenses[68] - Environmental impact assessments for the Evander project require revisions, with production phases expected to begin approximately 6 years after commencement, not impacting the critical path of project construction[85] - The company holds environmental permits for the dewatering and construction phases of the Evander project, along with a water use permit for handling excess mine water[85] - Evander project's remaining work is expected to take 12 to 18 months from the decision to proceed, with key tasks including finalizing binding terms, initiating financing discussions, and awarding contracts[82] Financial Performance and Capital Structure - The company recorded a basic loss attributable to owners of approximately HK$526,232,000 or a basic loss per share of HK$0.0292 for the fiscal year ended March 31, 2021, compared to a basic loss of HK$41,359,000 or HK$0.0023 per share in the previous fiscal year[24] - The company had no revenue for the fiscal year ended March 31, 2021, and the net loss attributable to equity holders was approximately HK$526,232,000, compared to HK$41,359,000 in the previous fiscal year[26] - The company's cash and cash equivalents balance was approximately HK$163,140,000 as of March 31, 2021, down from HK$199,594,000 in the previous year[27] - The company has no outstanding bank borrowings or bank financing as of March 31, 2021, and a capital gearing ratio of zero[27] - As of March 31, 2021, the company had no distributable reserves for cash or in-kind distributions to shareholders, with a share premium account balance of approximately HKD 5.3 billion[94] - The company reported no significant changes in its capital structure during the year and did not purchase, sell, or redeem any listed securities[89] COVID-19 Measures and Operational Adjustments - The company implemented various COVID-19 prevention measures, including social distancing, mandatory temperature checks, and reduced non-essential travel, to maintain operations[21] - The company closed its Johannesburg office in September 2021 and established a smaller satellite office in Pretoria for physical meetings[21] - The company is transitioning from a gold project developer to a gold producer, focusing on the Jeanette project while scaling back work on the Evander project due to international travel restrictions[11] - The company reviewed several gold projects to potentially accelerate its transition to a gold producer but found that the assets did not meet its investment criteria[12] Environmental, Social, and Governance (ESG) Initiatives - The company's environmental, social, and governance (ESG) report covers the period from April 1, 2020, to March 31, 2021, and focuses on gold mining operations in South Africa[128] - The company has implemented strategies to reduce greenhouse gas emissions, including minimizing business travel, saving energy, and conserving water[137] - The company's mining projects are in the pre-production stage, resulting in minimal environmental impact and no generation of hazardous waste during the reporting period[137] - The Jeanette project will have net water consumption due to minimal underground fissure water, while the Evander project will have net water discharge due to existing underground fissure water sources[140] - The company has established a health and safety management system called "TanGold Safety Road" to ensure a safe working environment for all employees[150] - No work-related deaths or injuries were reported during the reporting period, with a 0% work-related death rate and no lost workdays due to injuries[152] - The company provided on-the-job training, safety, and first aid courses to employees during the reporting period to promote career development[153] - The company implemented specific educational development programs in communities near its projects as part of its social and labor plan[154] - The company strictly prohibits child labor, forced labor, and any form of coercion or fraud in employment, with no reported cases of violations during the reporting period[156][157] - The company has a supplier selection and evaluation mechanism to ensure compliance with environmental and corporate social responsibility measures, including monitoring BEE scores and carbon emissions of potential suppliers[158] - The company maintains high ethical standards, with strict anti-corruption, anti-money laundering, and whistleblowing policies in place, and no reported cases of violations during the reporting period[162][163] - The company strengthened its social and labor plan during the COVID-19 pandemic, training over 1,100 households in food production to address unemployment and hunger in the Jeanette project area[165] - The company provided training and ongoing support to vegetable producers, including materials for building greenhouses and irrigation systems[166] - The company regularly reviews and monitors its social and labor plan through meetings with local municipal authorities and the Department of Mineral Resources and Energy[166] Corporate Governance and Board Activities - The Board of Directors consists of six members, including three executive directors and three independent non-executive directors[189] - The Board held six regular meetings and two shareholder meetings during the fiscal year ending March 31, 2021[189] - All directors attended 100% of the regular Board meetings, except for one executive director who attended 1 out of 2 other Board meetings[190] - The Audit Committee, composed of three independent non-executive directors, held seven meetings to review the Group's financial performance, internal controls, and risk management systems[199] - The Audit Committee reviewed the annual financial statements for the year ending March 31, 2021, and the interim financial statements for the six months ending September 30, 2020, and found them to be in compliance with applicable accounting standards[199] - The Board has established four committees: Audit Committee, Nomination Committee, Remuneration Committee, and Technical Safety and Environment Committee, each with written terms of reference[196] - The Board is responsible for approving major acquisitions and disposals, annual and interim results, major capital transactions, and changes in share capital[185] - The Board focuses on overall corporate strategy and policy, particularly the company's financial performance[185] - The Board has delegated authority to management for day-to-day operations, but major decisions require prior Board approval[191] - The company has arranged appropriate liability insurance to indemnify directors for liabilities arising from corporate governance activities[195] Shareholder and Share Option Information - The company's shareholding structure shows that Christiaan Rudolph de Wet de Bruin holds 244,650,717 shares, representing 1.30% of the company's issued share capital[109] - The company's 2010 Share Option Plan allows for the issuance of up to 161,924,000 shares, which is 10% of the total issued shares as of January 4, 2010[115] - The updated 2010 Share Option Plan, approved on November 21, 2014, allows for the issuance of up to 1,217,991,569 shares, representing 10% of the issued share capital as of that date[115] - The new Share Option Plan, approved on August 28, 2020, allows for the issuance of up to 1,815,147,198 shares, which is 10% of the issued share capital as of that date[115] - As of March 31, 2021, no share options have been granted under the new Share Option Plan[115] - Total share options outstanding as of March 31, 2021, amounted to 174,933,901, all of which were forfeited during the year[117] - Goldborn Holdings Limited holds 11.03% of the company's issued shares, totaling 2,001,362,075 shares[119] - Mandra Materials Limited holds 4.28% of the company's issued shares, totaling 777,434,722 shares[119] - Gold Commercial Services Limited holds 6.21% of the company's issued shares, totaling 1,126,724,384 shares[119] - The company maintained a public float of at least 25% of its issued shares as required by listing rules[124] Operational and Production Status - The company did not conduct any mining or production activities as of March 31, 2021[32] - No mining or production activities were conducted during the reporting period due to the pre-construction phase of the Evander and Jeanette projects in South Africa[128] - The company is focusing on advancing the Jeanette project, including engineering, procurement, and construction contracts with MCC, and identifying short-term gold mining assets for potential acquisition[31] - The company has not yet commenced any mining or production activities, so product responsibility policies are not applicable at this stage[159] Employee and Community Engagement - The company employed approximately 30 staff in Hong Kong and South Africa as of March 31, 2021, with compensation based on performance, experience, and market conditions[95] - The company has a total of 30 employees, with 16 males and 14 females, distributed between Hong Kong (12 employees) and South Africa (18 employees)[147] - The company engages with stakeholders through various channels, including company websites, shareholder meetings, and community communication meetings[134] - The company provided on-the-job training, safety, and first aid courses to employees during the reporting period to promote career development[153] - The company implemented specific educational development programs in communities near its projects as part of its social and labor plan[154] - The company strengthened its social and labor plan during the COVID-19 pandemic, training over 1,100 households in food production to address unemployment and hunger in the Jeanette project area[165] - The company provided training and ongoing support to vegetable producers, including materials for building greenhouses and irrigation systems[166] - The company regularly reviews and monitors its social and labor plan through meetings with local municipal authorities and the Department of Mineral Resources and Energy[166] Key Performance Indicators (KPIs) and Reporting - The company has disclosed key performance indicators related to emissions, energy consumption, and water usage, though specific data is not applicable at this stage[169] - Total number of employees categorized by gender, employment type, age group, and region[172] - Employee turnover rate categorized by gender, age group, and region[172] - Number and rate of work-related fatalities[172] - Number of lost workdays due to work injuries[172] - Percentage of trained employees categorized by gender and employee category (e.g., senior management, middle management)[172] - Number of suppliers categorized by region[172] - Number of product recalls due to safety and health reasons as a percentage of total products sold or shipped[172] - Number of complaints received regarding products and services and the response methods[172] - Number of concluded corruption cases against the company or its employees during the reporting period[175] - Resources allocated (e.g., money or time) in focused areas such as education, environmental issues, labor needs, health, culture, and sports[175] Audit and Financial Reporting - Deloitte Touche Tohmatsu has audited the financial statements for the year ended March 31, 2021, and is eligible for re-appointment[126] - The Audit Committee reviewed the annual financial statements for the year ending March 31, 2021, and the interim financial statements for the six months ending September 30, 2020, and found them to be in compliance with applicable accounting standards[199] Other Corporate Activities - The company terminated the proposed acquisition of the Pakistan target company, with a refund of HKD 30 million received and an additional HKD 30 million expected by December 31, 2021[73] - The joint venture with Pakistan Frontier Works Organization for the Tanjeel H4 deposit has not progressed due to political delays and COVID-19, with the company retrieving a $15.4 million deposit[74] - The sale of HIL, which holds coal mining rights, is ongoing, with the original potential buyer facing financial difficulties and the company seeking new buyers[86] - The company's independent non-executive directors have confirmed their independence from the company[125]