Financial Performance - Revenue from customers for the six months ended June 30, 2021, was AU$25,590,000, a decrease of 29% compared to AU$35,921,000 for the same period in 2020[11] - Gross profit for the six months ended June 30, 2021, was AU$2,875,000, down 68.7% from AU$9,182,000 in the prior year[12] - Profit before tax for the six months ended June 30, 2021, was AU$697,000, a significant decline from AU$6,258,000 in the same period of 2020[14] - The company reported a loss after income tax of AU$266,000 for the six months ended June 30, 2021, compared to a profit of AU$6,258,000 in the previous year[15] - Basic and diluted loss per share for the six months ended June 30, 2021, was (0.17) cents, compared to earnings of 4.51 cents per share in the same period of 2020[17] - Total comprehensive loss for the period was AU$286,000, compared to a comprehensive income of AU$6,759,000 for the same period in 2020[18] - The company reported a net loss of AU$266,000 for the period, compared to a profit of AU$6,258,000 in the previous period[21] - The Group achieved a profit before tax of AU$0.7 million and a net loss after income tax of AU$0.3 million for the period ended 30 June 2021, compared to a net profit of AU$6.3 million for the same period in 2020[38] Cash Flow and Assets - Net cash from operating activities was AU$450,000 for the six months ended June 30, 2021, compared to AU$11,915,000 for the same period in 2020, indicating a significant decline[23] - Cash and cash equivalents at the end of the period were AU$17,556,000, up from AU$11,745,000 at June 30, 2020, reflecting a year-over-year increase of 49.8%[23] - Total assets increased to AU$90,661,000 as of June 30, 2021, up from AU$85,397,000 at December 31, 2020, representing a growth of 3.0%[20] - Current assets totaled AU$38,185,000, an increase of 3.3% from AU$36,953,000 at the end of 2020[20] - Total liabilities decreased to AU$30,841,000 from AU$31,919,000, a reduction of 3.4%[20] - Total equity increased to AU$59,820,000 as of June 30, 2021, up from AU$53,478,000 at December 31, 2020, marking an increase of 11.8%[20] - The Group has a working capital surplus of AU$30.3 million as of 30 June 2021, up from AU$27.6 million as of 31 December 2020, and is debt-free at the date of this Interim Report[38] Exploration and Expenditure - The company incurred exploration expenditure of AU$327,000 for the six months ended June 30, 2021, compared to AU$42,000 in the prior year[13] - The total mineral exploration and evaluation expenditure for the period ended June 30, 2021, was AU$4,541,000, an increase from AU$3,989,000 as of December 31, 2020[120] Expenses and Costs - Management and administration expenses for the six months ended June 30, 2021, were AU$1,954,000, slightly up from AU$1,867,000 in the previous year[13] - Total employee benefits, including directors' remuneration, amounted to AU$3,969,000 for the six months ended June 30, 2021, compared to AU$4,224,000 in the same period of 2020, reflecting a decrease of 6%[83] - The company incurred finance costs of AU$18,000 for the six months ended June 30, 2021, down from AU$63,000 in the same period of 2020[82] Taxation - The company recognized an income tax expense of AU$963,000 for the period ended June 30, 2021, with a tax receivable asset of AU$410,000[88] - The income tax expense for the six months ended June 30, 2021, was AU$963,000, with a tax receivable asset of AU$410,000[90] - The company did not make any provision for Hong Kong profits tax as there were no assessable profits derived from or earned in Hong Kong during the period ended June 30, 2021[87] Shareholder Information - The issued share capital increased by a net amount of AU$6,632,371 through the issuance of 20,000,000 ordinary shares at AU$0.33 each on January 22, 2021[149] - The company’s board resolved not to declare any interim dividend for the period ended June 30, 2021, consistent with the previous year[159] - As of June 30, 2021, Allied Properties Resources Limited owns 41,032,727 ordinary shares, representing a 25.83% interest in the Company, up from 19.97% on June 30, 2020[169] Regulatory and Compliance - The Interim Financial Statements are prepared in accordance with the applicable disclosure requirements of Appendix 16 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and with International Accounting Standard ("IAS") 34 Interim Financial Reporting[33] - The financial statements are presented in Australian dollars (AUD) and values are rounded to the nearest thousand[36] - The Group has adopted the going concern basis of preparation for its financial statements[37] - The financial statements do not include adjustments for potential recoverability or classification of assets and liabilities if operations are put on care and maintenance[51] Market and Operational Insights - The Group operates primarily in gold mining and exploration, with subsidiaries in Sweden and Finland focused on gold production[29] - The Company expects to resolve production issues at the Vammala Plant with a new replacement Crusher planned for installation during the September 2021 maintenance shutdown[45] - The Company anticipates its application for a Permit will be granted following the Main Court Hearing in early 2022, with the County Administration Board supporting the application[49] Impairment and Rehabilitation - The Company identified two impairment indicators related to the Fäboliden Environmental Permit application pending a court hearing in early 2022[109] - The rehabilitation provision increased by AU$1.8 million due to scope changes in the closure plan at Jokisivu[136] - The company has confirmed the addition of rehabilitation provisions for all mines during the reporting period, with Jokisivu showing the largest increase of €1.2 million (approximately AU$1.8 million) due to changes in the closure plan prepared by Envineer Oy[137] Accounting Standards - The Group adopted new accounting standards effective from January 1, 2021, with no material impact on financial position or performance identified[57] - Amendments to IAS 16 prohibit deducting proceeds from the sale of items produced while preparing property, plant, and equipment from its cost, requiring recognition of these proceeds in profit or loss[60] - The amendments aim to ensure consistent application of standards and clarity in financial reporting practices[62]
龙资源(01712) - 2021 - 中期财报