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].
坛金矿业(00621) - 2022 - 中期财报