Financial Performance - Revenue from customers for the six months ended June 30, 2020, was AU$35,921,000, an increase from AU$22,271,000 in the same period of 2019, representing a growth of 61.5%[9] - Gross profit for the same period was AU$9,182,000, compared to AU$5,328,000 in 2019, reflecting a 72.5% increase[9] - Profit before tax for the six months ended June 30, 2020, was AU$6,258,000, significantly higher than AU$2,700,000 in 2019, marking a 132.5% increase[9] - Profit after income tax for the period was AU$6,258,000, up from AU$2,700,000 in the previous year, indicating a 132.5% rise[12] - Basic earnings per share attributable to ordinary equity holders was 4.51 cents, compared to 1.94 cents in the same period of 2019, representing an increase of 132.5%[9] - Total comprehensive income for the period was AU$6,759,000, compared to AU$2,751,000 in 2019, showing a growth of 145.5%[15] Expenses and Costs - Total expenses for the six months were AU$(1,867,000), a decrease from AU$(2,199,000) in the same period of 2019, reflecting improved cost management[9] - The cost of sales was AU$26,739,000, an increase of 58% compared to AU$16,943,000 for the same period in 2019[48] - Management and administration expenses decreased to AU$1,867,000 in the first half of 2020 from AU$2,199,000 in the same period of 2019, a reduction of 15%[51] - The total finance costs for the six months ended June 30, 2020, were AU$63,000, significantly higher than AU$22,000 in the same period of 2019, marking an increase of 186%[51] Assets and Liabilities - As of June 30, 2020, total assets increased to AU$79,765,000, up from AU$78,633,000 as of December 31, 2019, reflecting a growth of 1.44%[19] - Total liabilities decreased to AU$29,642,000 as of June 30, 2020, down from AU$35,269,000 at the end of 2019, a reduction of 16.06%[19] - The company’s net assets increased to AU$50,123,000 as of June 30, 2020, compared to AU$43,364,000 at the end of 2019, reflecting a growth of 15.67%[19] Cash Flow - Net cash from operating activities for the six months ended June 30, 2020, was AU$11,951,000, significantly higher than AU$1,200,000 for the same period in 2019, representing a growth of 895.92%[23] - Cash and cash equivalents at the end of the period increased to AU$11,745,000 from AU$8,458,000 at the end of June 30, 2019, marking a rise of 38.88%[23] Exploration and Development - Exploration expenditure for the period was AU$(42,000), compared to AU$(25,000) in 2019, indicating an increase in investment in exploration activities[9] - Payments for development activities amounted to AU$3,762,000 for the six months ended June 30, 2020, compared to AU$2,993,000 in the same period of 2019, an increase of 25.69%[23] - Total mineral exploration and evaluation expenditure for the period was AU$7,045,000, down from AU$8,699,000 in the previous period, representing a decrease of approximately 19%[67] Shareholder Information - There has been no movement in ordinary share capital during the six months ended 30 June 2020, maintaining 138,840,613 shares outstanding[87] - The Board resolved not to declare any interim dividend for the six months ended 30 June 2020, consistent with the previous year[92] - The total number of shares issued by the company was 138,840,613 as of June 30, 2020[134] Compliance and Governance - The consolidated interim financial statements are prepared in accordance with International Accounting Standard (IAS) 34, ensuring compliance with the relevant disclosure requirements[34] - The interim financial information was reviewed and found to be in compliance with IAS 34, ensuring the accuracy of financial reporting[129] - The Company complied with all code provisions of the Corporate Governance Code during the half-year period[153] Environmental and Legal Matters - The Company has a valid environmental test mining permit for Fäboliden and is in the process of obtaining a full mining permit expected to be finalized by early 2021[63] - The Company applied for a retrospective Environmental Permit following the risk assessment findings, indicating proactive compliance with environmental regulations[118] - The Group maintains that PEIC Oy's claims lacked valid basis beyond the amount provided by the Company[114] Production and Operations - Gold production at the Vammala Plant for the half-year ended June 30, 2020, was 12,102 ounces, a decrease of 17.3% compared to the same period in 2019[179] - The Vammala Plant treated 160,342 tonnes of ore with an average grade of 2.8 g/t gold and achieved a process recovery of 85.3%[179] - Gold production from Jokisivu for the period was 10,213 ounces, slightly down from 10,269 ounces in the previous year[186] - At Kaapelinkulma, 30,869 tonnes of ore were mined at a grade of 2.6 g/t, with a significant increase in waste rock removal to 282,435 tonnes[192]
龙资源(01712) - 2020 - 中期财报