Financial Performance - Revenue for the six months ended June 30, 2022, was AU$24,403,000, a decrease of 4.6% from AU$25,590,000 in the same period of 2021[8] - Gross profit for the same period was AU$5,592,000, significantly up from AU$2,875,000, reflecting a gross margin increase[8] - Profit before tax was AU$4,240,000, compared to AU$697,000 in the prior year, indicating a substantial improvement[8] - Profit after income tax for the period was AU$3,619,000, a turnaround from a loss of AU$266,000 in the previous year[10] - Total comprehensive income for the period was AU$1,548,000, compared to a loss of AU$286,000 in the same period last year[10] - Basic and diluted earnings per share were 2.29 cents, a significant increase from a loss of 0.17 cents per share in the prior year[8] - The company reported a profit for the period of AU$3,619,000, compared to a loss of AU$266,000 in the previous period[13] - Total comprehensive income for the period was AU$1,548,000, after accounting for other comprehensive losses[13] - For the six months ended June 30, 2022, the Group achieved a profit before tax of AU$4.240 million, compared to AU$0.697 million for the same period in 2021, indicating a significant increase in profitability[36] - The net profit after income tax for the period was AU$3.619 million, a turnaround from a net loss of AU$0.266 million in the previous year[36] Assets and Liabilities - Total assets increased to AU$102,752,000 as of June 30, 2022, up from AU$95,300,000 at December 31, 2021, representing an increase of 7.7%[12] - Current assets totaled AU$41,456,000, a slight increase from AU$40,099,000, reflecting a growth of 3.4%[12] - Non-current assets rose to AU$61,296,000, compared to AU$55,201,000, marking an increase of 11.3%[12] - Total liabilities increased to AU$41,235,000 from AU$35,331,000, which is an increase of 16.8%[12] - Net assets reached AU$61,517,000, up from AU$59,969,000, indicating a growth of 2.6%[12] Cash Flow and Financing - As of June 30, 2022, the Group had cash and cash equivalents of AU$14.053 million, slightly down from AU$14.370 million at the end of 2021[37] - The Group's working capital surplus increased to AU$29.788 million as of June 30, 2022, compared to AU$29.048 million at the end of 2021[37] - The Group has an unsecured AU$12.000 million loan facility with AP Finance Limited, with the repayment date extended to December 31, 2023[37] - Net cash from operating activities for the six months ended June 30, 2022, was AU$2.376 million, up from AU$0.450 million in the same period of 2021[36] - The net cash used in investing activities was AU$1.751 million for the period, compared to AU$0.874 million in the previous year[36] - The Group's cash flows from financing activities resulted in a net cash outflow of AU$0.111 million, contrasting with a net inflow of AU$3.583 million in the same period of 2021[36] Exploration and Evaluation - Exploration expenditure for the six months was AU$1,971,000, slightly higher than AU$1,954,000 in the previous year[8] - Total mineral exploration and evaluation expenditure for the six months ended June 30, 2022, was AU$1,823,000, compared to AU$1,625,000 for the same period in 2021[112] - Exploration write-off for the period was AU$33,000, primarily from Finland[143] Environmental and Regulatory Matters - The Swedish Court rejected the company's application for an environmental permit for full-scale mining at Fäboliden on June 28, 2022, despite the environmental impact assessment being approved[48] - The company lodged an appeal on July 19, 2022, requesting an extension until December 15, 2022, to submit detailed grounds of appeal on the ruling[49] - The company has lodged an appeal with the Swedish Land and Environmental Court regarding the environmental permit for Fäboliden, with an extension granted until December 15, 2022[103] Corporate Governance and Compliance - The company has complied with all code provisions of the Corporate Governance Code during the half-year period ended June 30, 2022[187] - The Audit and Risk Management Committee reviewed the interim results for the half-year period ended June 30, 2022, ensuring adherence to accounting principles[194] - Ernst & Young conducted a review of the interim financial information in accordance with international standards, confirming the accuracy of the financial statements[194] Employee and Shareholder Information - Total employee benefits, including directors' remuneration, amounted to AU$4,076,000, an increase of 2.7% from AU$3,969,000 in the previous year[76] - The company’s total employee entitlements as of June 30, 2022, amounted to AU$5,778,000 for current provisions, compared to AU$3,114,000 at the end of 2021[118] - The company did not declare any interim dividends for the period ended June 30, 2022, consistent with the previous year[131] - The Company and its subsidiaries did not purchase, sell, or redeem any shares during the half-year ended 30 June 2022[200]
龙资源(01712) - 2022 - 中期财报