Mineral Resources and Reserves - The total mineral resource estimate as of December 31, 2019, is 14,000 kilotonnes at a grade of 3.2 g/t gold, equivalent to 1,500 thousand ounces of gold, representing a 3% increase in tonnes and ounces compared to December 31, 2018[12]. - The total ore reserve as of December 31, 2019, is confirmed at 3,400 kilotonnes at a grade of 2.9 g/t gold, equivalent to 310 thousand ounces of gold, showing a 30% increase in tonnes and a 33% increase in ounces compared to December 31, 2018[12]. - The Fäboliden ore reserve increase is primarily due to significant estimates that extend the planned open-pit mining duration to approximately eight years[13]. - The company aims to enhance its resource estimation accuracy, reflecting relative uncertainty in the reported figures[23]. - The total estimated mineral resources are rounded to two significant figures to account for estimation uncertainties[24]. - The total estimated ore reserves across all production centers amount to 3,000 thousand ounces[32]. - The company confirmed that there are no new data that would significantly impact the previously reported mineral resource estimates[36]. Production and Operations - The trial mining at Fäboliden has processed 60,393 tonnes of ore, with operational issues resolved, and full-scale mining is expected to commence by the end of the year[8]. - The company has commenced mining operations at the new Kaapelinkulma mine, with satisfactory progress reported[8]. - The total production at the Vammala production center reached 1,600 thousand tons, with an average gold grade of 3.8 grams per ton[19]. - The Svartliden production center reported a total production of 4,800 thousand tons, with an average gold grade of 2.9 grams per ton[19]. - Total gold production from the company reached 3,400 thousand ounces, with an average grade of 2.9 grams per ton[32]. - The Vammala processing plant produced a total of 362,157 ounces of gold concentrate in 2019, an increase of 4.2% compared to 336,219 ounces in 2018[54]. - The average gold grade processed at the Vammala plant was 3.1 grams per ton in 2019, up from 2.9 grams per ton in 2018[54]. - The total mining volume at the Jokisivu mine was 256,706 tons with an average gold grade of 2.9 grams per ton in 2019, compared to 264,679 tons and 2.8 grams per ton in 2018[58]. - The Kaapelinkulma open-pit mine commenced production in April 2019, with a total mining volume of 28,499 tons and a gold grade of 3.0 grams per ton[62]. - The Orivesi mine produced 29,547 tons of ore with a gold grade of 4.6 grams per ton in 2019, down from 37,140 tons and 3.9 grams per ton in 2018[64]. Financial Performance - The company reported a net profit of AUD 6.3 million for the year ended December 31, 2019, compared to a net loss of AUD 9.5 million in 2018[98]. - The average gold price increased to USD 1,403 per ounce in 2019, up from USD 1,267 per ounce in 2018, contributing to improved profitability[99]. - The group sold 25,958 ounces of gold in 2019, generating operating revenue of AUD 53.1 million, a 40.2% increase from AUD 37.9 million in 2018[100]. - Total sales costs slightly increased to AUD 42.2 million in 2019, up from AUD 41.2 million in 2018, including an additional AUD 1.8 million in rehabilitation expenses[101]. - The company achieved a gross profit of AUD 10.9 million in 2019, with a gross margin of 20.5%, compared to a total loss of AUD 3.3 million in 2018[105]. - The unit mining cost in Finland decreased by 10.2% to EUR 44 per ton of ore in 2019, due to increased mining volume and the replacement of higher-cost ore[104]. Environmental and Safety Management - The company has implemented a detailed emergency plan to continue operations and protect employee health amid the ongoing COVID-19 pandemic[8]. - The company is committed to sustainable development and environmental protection throughout all stages of mining projects[81]. - The board is responsible for overseeing the company's environmental, social, and governance strategies and risk management systems[84]. - The company faces ongoing operational risks and has implemented policies to manage and mitigate these risks[85]. - The company is actively working on improving safety performance and compliance with occupational health and safety standards[87]. Exploration and Development - The company is actively exploring areas near the Orivesi mine, which has completed its known ore reserves, and a closure report has been submitted[8]. - The company has initiated comprehensive mining at the Kaapelinkulma gold mine and trial mining at Fäboliden, while preparing for exploration activities around the Orivesi mine[138]. - The exploration program in Sweden included 59 reverse circulation drill holes and 51 diamond core drill holes, totaling 3,210.90 meters at the Fäboliden gold mine[135]. - The company plans to continue underground drilling at Jokisivu in 2020 to further evaluate the Kujankallio and Arpola deposits[146]. Corporate Governance - Independent non-executive director Lin Li was appointed on July 18, 2019, and has a background in business with a major in marketing[190]. - Independent non-executive director Carlisle C. Procter has over 30 years of experience at the Reserve Bank of Australia and has served as a non-executive director for several public companies[191]. - Independent non-executive director Bai Weiqiang has over 25 years of experience in accounting and financial management, serving as a financial director for multiple listed companies[192]. - Independent non-executive director Pan Renwei has over 20 years of experience in auditing and accounting, currently serving as a financial director and company secretary for a listed company[197]. - CFO Daniel Broughton has over 14 years of experience in financial operations within the mining sector and was appointed on September 8, 2014[199]. - Financial and administrative manager Päivi Mikkonen has extensive academic qualifications in accounting, finance, and international business, overseeing administrative and financial functions in the Nordic region[200].

Financial Performance - Revenue for the six months ended June 30, 2019, was AU$22,271,000, an increase from AU$19,742,000 in the same period of 2018, representing a growth of 7.7%[9] - Gross profit for the period was AU$5,328,000, compared to a gross loss of AU$2,175,000 in the prior year, indicating a significant turnaround[9] - Profit before tax was AU$2,700,000, a substantial improvement from a loss of AU$5,301,000 in the previous year[9] - Basic earnings per share for the period was 1.94 cents, compared to a loss of 5.97 cents per share in the same period of 2018[9] - Total comprehensive income for the period was AU$2,751,000, compared to a loss of AU$4,845,000 in the prior year, reflecting a positive shift in financial performance[11] - The company reported a profit for the period of AU$2,700,000 for the six months ended June 30, 2019, compared to a loss of AU$5,301,000 in the previous period[15] - The company’s total comprehensive profit for the period was AU$2,751,000, compared to a total comprehensive loss of AU$4,845,000 in the previous period[15] Revenue and Income Sources - Other revenue increased to AU$48,000 from AU$4,000 in the previous year, showcasing growth in additional income streams[9] - Gold sales to external customers amounted to AU$19,436,000, while inter-segment sales were AU$2,835,000, leading to a total segment revenue of AU$22,271,000[115] - The total other revenue for the period was AU$48,000, which includes interest revenue of AU$41,000[115] Assets and Liabilities - Total assets increased to AU$69,066,000 as of June 30, 2019, up from AU$62,750,000 at December 31, 2018, representing an increase of 10.5%[13] - Total liabilities increased to AU$28,868,000 as of June 30, 2019, compared to AU$25,303,000 at December 31, 2018, marking an increase of 10.1%[13] - Total equity increased to AU$40,198,000 as of June 30, 2019, compared to AU$37,447,000 at December 31, 2018, reflecting a growth of 4.7%[13] - Non-current assets as of June 30, 2019, totaled AU$40,097,000, up from AU$37,368,000 at the end of 2018, reflecting a growth of approximately 7.3%[122] Cash Flow and Operating Activities - Net cash from operating activities was AU$1,173,000 for the six months ended June 30, 2019, compared to a net cash used of AU$3,176,000 in the same period of 2018[17] - Cash and cash equivalents at the end of the period were AU$8,458,000, significantly up from AU$2,926,000 at the end of June 30, 2018[17] - Current assets decreased to AU$28,969,000 from AU$25,381,000, with cash and cash equivalents at AU$8,458,000, down from AU$10,905,000[13] Exploration and Development - Management indicated ongoing exploration and development efforts, although specific figures for exploration expenditure were not detailed[9] - The company incurred payments for mineral exploration totaling AU$27,000 during the six months ended June 30, 2019[17] - Mineral exploration and evaluation costs totaled AU$6,251,000 for the period ending 30 Jun 2019, compared to AU$5,333,000 for the previous period, marking an increase of about 17.2%[81] Corporate Governance and Compliance - The financial statements are prepared in accordance with International Accounting Standard (IAS) 34 and the applicable disclosure requirements of the Hong Kong Stock Exchange[27] - The Company has complied with all code provisions of the Corporate Governance Code during the half-year period ended June 30, 2019[170] - The Audit and Risk Management Committee reviewed the interim results for the half-year period ended June 30, 2019, and the figures were agreed upon by the Company's Auditors, Ernst & Young[172] Operational Efficiency - The cost of sales for the six months ended June 30, 2019, was AU$16,943,000, a decrease of 22.5% compared to AU$21,917,000 for the same period in 2018[53] - The overall production cost net of inventory movements was AU$13,769,000 for the six months ended June 30, 2019, significantly lower than AU$20,535,000 in the same period of 2018, highlighting improved operational efficiency[53] - The depreciation of mine properties and equipment increased to AU$3,174,000 for the six months ended June 30, 2019, compared to AU$1,382,000 in the previous year, reflecting a significant rise in asset utilization[53] Shareholder Information - As of June 30, 2019, the total number of shares issued by the company was 138,840,613[155] - The company has a loan facility with AP Finance Limited for AU$12.0 million, with a repayment date extended to 31 December 2020[91] - The company has not declared any interim dividend for the six months ended June 30, 2019, consistent with the previous year[95] Safety and Production Metrics - The Vammala Plant produced 14,655 ounces of gold in concentrate for the half-year ending June 30, 2019, representing a 23.8% increase compared to the same period in 2018[187] - The average grade of ore processed at the Vammala Plant was 3.3 g/t gold, with a process recovery rate of 88.1%[190] - The total ore mined from the Jokisivu Gold Mine was 120,943 tonnes at an average grade of 2.9 g/t gold, resulting in a gold production of 10,270 ounces for the period[194]

Financial Performance - The company reported a net loss of AUD 9.5 million for the year due to high costs associated with maintaining the Svartliden plant and expenses related to the listing[8]. - The company recorded a net loss of AUD 9.5 million for the year ended December 31, 2018, compared to a loss of AUD 0.6 million in 2017, primarily due to increased costs associated with operations in Sweden and listing expenses in Hong Kong[90]. - Gold production decreased by 11.8% year-on-year, with 22,498 ounces sold in 2018 compared to 25,739 ounces in 2017, resulting in operational revenue of AUD 37.9 million, down 8.3% from AUD 41.3 million in 2017[97]. - The C1 cash cost increased by 37.2% to USD 992 per ounce in 2018, up from USD 723 per ounce in 2017, while total sales costs rose by 15.2% to AUD 41.2 million[100]. - The company reported a gross loss of AUD 3.3 million for the year, compared to a gross profit of AUD 5.5 million in 2017[104]. - Other income remained stable at AUD 0.2 million, consistent with 2017 figures[107]. - Financial costs increased to AUD 0.2 million from AUD 0.01 million in 2017, due to interest payments on a AUD 12.0 million unsecured loan[108]. - Total assets increased to AUD 25.4 million in 2018 from AUD 20.0 million in 2017, with cash and cash equivalents rising by AUD 4.3 million[111]. - The company's net asset value rose to AUD 37.4 million in 2018, up from AUD 31.4 million in 2017[110]. - The company had a cash balance of AUD 10.9 million as of December 31, 2018, compared to AUD 6.6 million in 2017[110]. - The debt-to-equity ratio was 11% as of December 31, 2018, compared to zero in 2017[110]. - Non-current liabilities increased to AUD 16.9 million in 2018 from AUD 10.8 million in 2017, primarily due to an increase in interest-bearing liabilities[111]. Mining Operations and Projects - Dragon Mining Limited successfully listed on the Hong Kong Stock Exchange on November 5, 2018, raising funds for the development of the Fäboliden gold project[6]. - The company anticipates that the Jokisivu gold mine's lifespan will extend, allowing for continued production until the Fäboliden project can commence full-scale mining[11]. - The Kaapelinkulma new mine is undergoing overburden stripping and is expected to start producing ore by the end of March 2019[7]. - The Svartliden plant is expected to process trial mining ore starting in August 2019[7]. - The company is focusing on advancing the long-term production of the Fäboliden project and ongoing exploration at Orivesi[8]. - The company plans to commence trial mining at the Fäboliden gold mine in May 2019, with the first ore expected to be produced in August 2019[52]. - The company continues to advance the Kaapelinkulma and Fäboliden projects in preparation for production[143]. - Kaapelinkulma project is preparing for mining operations with minimal capital investment, aiming to start in Q2 2019 after completing sedimentation pond construction[151]. - The company plans to process Fäboliden's trial mining ore at the Svartliden plant starting in August 2019[70]. Mineral Resources and Reserves - As of December 31, 2018, the total mineral resource was estimated at 13,638 thousand tons with a grade of 3.2 g/t gold, equating to 1,421 thousand ounces of gold, representing a 0.1% increase in tonnage compared to the previous year[10]. - The total ore reserve confirmed as of December 31, 2018, was 2,615 thousand tons with a grade of 2.8 g/t gold, or 234 thousand ounces of gold, marking a 13.0% increase in tonnage from the previous year[11]. - The total mineral resources at the Vammala production center in southern Finland as of December 31, 2018, amount to 2,516 thousand tons of gold with an average grade of 4.2 grams per ton[14]. - The total mineral resources at the Svartliden production center in northern Sweden as of December 31, 2018, amount to 11,121 thousand tons of gold with an average grade of 3.0 grams per ton[14]. - The total ore reserves at the Vammala production center are estimated at 572 thousand tons with an average grade of 2.4 grams per ton, containing approximately 44.5 thousand ounces of gold[25]. - The total ore reserves at the Svartliden production center are estimated at 2,615 thousand tons with an average grade of 2.8 grams per ton, containing approximately 234 thousand ounces of gold[25]. - The company maintains that mineral resource estimates may not sum due to rounding[14]. Environmental and Regulatory Compliance - Environmental permits for full mining at Fäboliden have been applied for and are currently being processed[7]. - The company is committed to environmental sustainability and has implemented best practices in environmental management across all operational stages[76]. - The company is appealing the rejection of a new environmental permit for the Orivesi mine, citing reduced emissions and compliance with existing permit conditions[160]. - Environmental impact statements have been submitted for Jokisivu mine's waste rock expansion, with updates due by September 2019[164]. - The company has submitted an updated waste management plan to PIR ELY, which was approved in January 2019, indicating progress in regulatory compliance[171]. - The trial mining environmental permit was granted on December 1, 2017, valid until September 30, 2027, subject to certain terms and conditions[174]. - The company is actively pursuing a comprehensive mining permit, with the application submitted to the land and environment court in July 2018[175]. Operational Challenges - The company faced operational challenges during the year, including difficulties at the Orivesi mine and a malfunction of the primary crusher in December[7]. - The company faced operational challenges due to a mechanical failure of the crusher in December, which prevented processing of high-grade ore, leading to a reliance on lower-grade ore from the Jokisivu mine[91]. - Orivesi gold production was negatively impacted due to a decrease in high-grade ore tonnage, with a gold grade of 9.4 grams per ton being replaced by lower-grade ore from Jokisivu[63]. Management and Personnel - Independent non-executive director Mr. Pan Renwei has over 20 years of experience in auditing and accounting[188]. - CFO Mr. Daniel Broughton has over 13 years of experience in financial operations within the mining industry[192]. - Chief Geologist Mr. Neale Edwards has over 25 years of experience in mineral exploration and mining[193]. - Financial and Administrative General Manager Ms. Päivi Mikkonen oversees administrative and financial functions in the Nordic region[194]. - Vammala Production Center General Manager Mr. Ilpo Mäkinen has over 37 years of experience in the mining industry[195]. - Fäboliden Project Manager Mr. Joshua Stewart has over 17 years of experience in the mining industry and is currently leading the trial mining process[198]. - Svartliden Processing Plant Manager Mr. Heikki Miettunen has a background in processing engineering and has held positions in various mining operations[199]. - Vammala Concentration Plant Manager Mr. Jaakko Larkomaa holds a master's degree in processing engineering and has experience in mineral processing[200].