RE: GGP IR21 Mar 2022 07:49
Great we have plenty of dosh!
Operational and financial review
REVIEW OF INTERIM RESULTS
• Net loss after tax of £3,588,686;
• Operating cash outflow of £4,027,264;
• Net assets of £12,239,930, with cash of £14,286,415 as at 31 December 2021
Mine development for Havieron continued with expenditure of £5,713,854 capitalised for the six months ended 31
December 2021.
The Group’s exploration and evaluation expenses was £1,793,379, which included both 100% owned tenements and
drilling to test geophysical targets outside of the known Havieron system at Havieron North, and Zipa as part of the Havieron
Joint Venture. In accordance with the Group’s accounting policy, exploration and evaluation expenditure for areas of
interest not yet considered to be commercially viable are expensed as incurred.
In addition the Juri Joint Venture’s exploration activities continued during the period, which were fully funded by Newcrest
Mining Limited under the Juri Farm-In and Joint Venture Agreement.