Financial Performance - The company reported a loss before tax from continuing operations of HKD 31.9 million, compared to HKD 28.3 million in the previous year, representing an increase of approximately 5.7%[14] - The after-tax loss from continuing operations was approximately HKD 20.8 million, up from HKD 14.2 million in the previous year, indicating a year-over-year increase of about 46.5%[14] - Exploration and evaluation expenses increased, leading to an operating loss that rose by 77% to HKD 40.3 million, compared to HKD 22.8 million in the previous year[15] - The company incurred total exploration expenses of HKD 17.7 million for the year, compared to HKD 5.5 million in the previous year, reflecting a year-over-year increase of about 221%[17] - The liquidity ratio as of June 30, 2022, is 1.83, compared to 13.69 on June 30, 2021[55] - The capital debt ratio remains stable at 0.08 as of June 30, 2022, consistent with the previous year[55] - The company has issued 9,280,232,000 shares as of the reporting period end[56] Project Development - Total exploration expenditure for the Marillana iron ore project was HKD 14.1 million, significantly up from HKD 2.6 million in the previous year, marking an increase of approximately 440%[17] - The company is advancing the Marillana project and its associated infrastructure, which is expected to alleviate logistical bottlenecks and unlock significant value from the mine[11] - The joint venture with Mineral Resources Limited and Hancock Prospecting Pty Ltd aims to develop critical infrastructure at the Stanley Point Berth 3 and associated rail and port facilities[11] - The company recorded no development expenditure in the financial statements for the year, consistent with the previous year[17] - The total capital expenditure for the Marillana project was HKD 51,000, compared to HKD 19,000 in the previous year, indicating a significant increase in investment[19] - The initial development works for the Marillana project are ongoing, with a port capacity allocation expected to support production requirements[26] - The project development is contingent upon receiving capacity allocation from the Pilbara Ports Authority and positive final investment decisions from the joint venture partners[26] Mineral Resources - Marillana project has a mineral resource estimate of 1.404 billion tons with an average iron grade for DID and 102 million tons for CID[23] - The estimated mineral resources include 169.5 million tons of proven resources and 1.046 billion tons of indicated resources[31] - The total mineral resource estimate for the Marillana project is 1.4044 billion tons with an average iron grade of 42.2%[32] - The estimated recoverable ore reserves for the Marillana project include 967 million tons of DID ore and 46 million tons of CID ore, totaling 1.013 billion tons[36] - The Ophthalmia iron ore project has a total mineral resource of 341 million tons with an iron grade of 59.3%[39] - The total estimated mineral resource for the Coondiner project is 157.6 million tons with an iron grade of 58.4%[46] - The total estimated mineral resource for the Kalgan Creek project is 59.3 million tons with an iron grade of 59.4%[46] Environmental and Sustainability Practices - The company is committed to sustainable operations in the iron ore business, actively working to minimize environmental impacts and respecting indigenous rights[61] - The company has not conducted mining operations during the year, which is expected to minimize environmental disturbances[61] - The company promotes a culture of respect and equality among employees, providing training and organizing activities to enhance relationships and communication[61] - The company has implemented measures to reduce unnecessary business travel, transitioning all board meetings to electronic communication during the reporting period[154] - The company has committed to systematically improving its environmental performance through planning, execution, and monitoring[146] - The company aims to minimize its environmental footprint and is closely monitoring areas such as water management and land restoration[160] - The company has established several management plans to effectively manage its environmental impact, including safety, waste, and environmental monitoring plans[161] Corporate Governance - The company has fully complied with the corporate governance code as of June 30, 2022, according to the Hong Kong Listing Rules[70] - The board consists of nine members, with three being independent directors, ensuring a balanced composition[72] - The company is committed to reviewing its corporate governance policies regularly to ensure compliance with regulations[71] - The board is responsible for establishing and monitoring the achievement of management objectives to enhance shareholder value[70] - The company has adopted a written terms of reference for the board to ensure effective governance practices[70] - The company emphasizes the importance of independent judgment from its non-executive directors in decision-making processes[72] Employee and Workplace Diversity - The total number of employees is 15, with 5 in Australia and 10 in Hong Kong[183] - The gender distribution shows 4 males and 1 female in Australia, and 9 males and 1 female in Hong Kong[183] - The percentage of women in the workplace is 13%, down from 15% in the previous year[178] - The company has implemented a diversity policy to promote equal employment opportunities[176] - The company aims to improve the diversity of its board by appointing individuals with relevant experience and skills[178] - The company is committed to creating a culture of equality, respect, and diversity[179] Risk Management - The company has implemented a risk management system to monitor and address any significant deficiencies identified by the audit committee[110] - The risk management committee has been established to oversee risk management processes and internal controls related to the company's ongoing operations and future actions[118] - The risk management and internal control systems were deemed sufficient and effective, with no significant deficiencies identified as of June 30, 2022[123] Shareholder Engagement - The company is committed to enhancing corporate governance and welcomes shareholder feedback to improve transparency[135] - The company encourages shareholder participation in annual general meetings, providing at least 20 business days' notice[131] - The company has established a communication strategy and continuous disclosure policy to handle insider information appropriately[131]
布莱克万矿业(00159) - 2022 - 年度财报