Last checked at 22 Jun 2023 07:00
22 June 2023
Adriatic Metals PLC
("Adriatic Metals" or the "Company")
Report on Payments to Governments for the Year Ended 31 December 2022
Adriatic Metals (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) advises, in accordance with DTR 4.3A and in compliance with The Reports on Payments to Governments Regulations 2014 as amended (the Regulations), the payments made by the Company and its subsidiaries to governments for the year ended 31 December 2022.
Beneficiary of payment | Nature of payment |
| ||||||
(In USD'000) | Production entitlements | Taxes paid | Royalties paid | Dividends paid | Signature, discovery and production bonuses paid | Licence fees, rental fees, entry fees and other considerations for licences and/or concessions paid | Infrastructure improvements paid | Total |
Bosnia and Herzegovina |
| |||||||
Federation of Bosnia and Herzegovina | - | 18 | - | - | - | - | - | 18 |
Municipality Vares | 687 | - | 687 | |||||
Ze Do Canton | - | - | - | - | - | 266 | - | 266 |
Total | - | 18 | - | - | - | 944 | - | 962 |
Basis of preparation:
a) Payments made in currencies other than USD are translated at the average foreign exchange rate for the relevant month.
b) Taxes paid include taxes levied on the income, production or profits of companies but excludes any taxes levied on consumption such as value added taxes, personal income taxes or sales taxes.
This report is available for download at https://www.adriaticmetals.com/investors/lse-announcements/
Authorised by, and for further information please contact: Paul CroninManaging Director & CEO info@adriaticmetals.com
** ENDS **
For further information please visit: www.adriaticmetals.com; email: info@adriaticmetals.com, @AdriaticMetals on Twitter; or contact:
Adriatic Metals PLC | |
Paul Cronin / Klara Kaczmarek | Via Buchanan |
Buchanan | Tel: +44 (0) 20 7466 5000 |
Bobby Morse / Oonagh Reidy | adriatic@buchanan.uk.com |
Canaccord Genuity Limited (Joint Corporate Broker) |
|
Jeremy Dunlop (Australia) | Tel: +61 2 9263 2700 |
James Asensio (UK) | Tel: +44 (0) 207 523 8000 |
RBC Capital Markets (Joint Corporate Broker) |
|
James Agnew / Jamil Miah | Tel: +44 (0) 20 7653 4000 |
Stifel Nicolaus Europe Limited (Joint Corporate Broker) | |
Ashton Clanfield / Callum Stewart | Tel: +44 (0) 20 7710 7600 |
Citadel Magnus | |
Cameron Gilenko | Tel: +61 8 6160 4900 |
ABOUT ADRIATIC METALS
Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) is a precious and base metals developer that is advancing the world-class Vares Silver Project in Bosnia & Herzegovina, as well as the Raska Zinc-Silver Project in Serbia.
The Vares Silver Project is fully funded to production, which is expected in Q4 2023. The 2021 Project Definitive Feasibility Study shows robust economics of US$1,062 million post-tax NPV8, 134% IRR and a capex of US$168 million. Concurrent with ongoing construction activities, the Company continues to explore across its highly prospective 44km2 concession package.
The Mineral Resource estimate for the Rupice underground deposit comprising part of the Vares Silver Project was announced in accordance with ASX Listing Rule 5.8 on 1 September 2020. The Company confirms that it is not aware of any new information or data that materially affects the information included in the previous announcement and that all material assumptions and technical parameters underpinning the estimate in the previous announcement continue to apply and have not materially changed.
The Ore Reserve estimate for the Rupice deposit comprising part of the Vares Silver Project was announced in accordance with ASX Listing Rule 5.9 on 19 August 2021. The Company confirms that it is not aware of any new information or data that materially affects the information included in the previous announcement and that all material assumptions and technical parameters underpinning the estimate in the previous announcement continue to apply and have not materially changed.
In accordance with ASX Listing Rule 5.19, the Company confirms that the production targets and forecast financial information for the Vares Project were first disclosed in accordance with ASX Listing Rules 5.16 and 5.17 in the Company's announcement dated 19 August 2021. The Company confirms that all the material assumptions underpinning the production target and the forecast financial information in the previous announcement continue to apply and have not materially changed.