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]
坛金矿业(00621) - 2025 - 中期业绩