20974 29Metals AR23 WEB V1 - Flipbook - Page 103
2023 key
results
Chair letter and
CEO report
About
29Metals
Our
assets
Sustainability
& ESG Report
Mineral Resources
and Ore Reserves
Annual
Financial Report
99
29Metals Appendix 4E and Annual Financial Report for 29Metals Limited and its Controlled Entities for the year ended 31 December 2023
24
Directors’ Report
Operating and Financial Review
Gross profit / (loss)
For the year ended 31 December
2023
2022
$’000
inin
ot
Pro e in
$’000
ot
ite er i e o t
epre iation an amorti ation (‘
’)
(
)
(
)
(
$’000
( 0
$’000
(
ot
a u tment
$’000
(
$’000
0
0
000 a a e rea e o
a
(
0)
(
0)
)
)
(
)
(
)
)
0)
0
00
re u tion in ite peratin o t
it lo er a ti ity le el re ultin rom t e u pen ion o operation at apri orn opper partly o
i er unit rate un er ontra t minin a reement at ot operation a a re ult o t e impa t o in u try i e in lation
▪
a
▪
a to pile mo ement re it o $
▪
a
re u tion in royalty e pen e an a 0 re u tion in ot er pro u tion an
pri e
▪
t e ene it o pro u ti ity an
▪
a$
0 000 ( 0
il) in entory rite o n e pen e a ain t ore on t e
pa an
o t attri ute to t e e in entorie an t e a e e
at urrent ommo ity pri e
it lo er pro u tion rate re ultin in lo er epre iation o
000 ( 0
(
)
rom t e prior perio re le tin
▪
re u tion in &
0
0 )
$’000
o t o ale o $
0
)
(
)
o ernment royaltie
ellin
(
(
$’000
t er pro u tion an
(
$’000
to pile mo ement
n entory rite o n –
)
$’000
$’000
VAR
0
$
000) re le tin
in
et y
a et
on entrate in entorie un ol at t e en o t e eportin Perio
ellin
o t ea
re le tin lo er ale
olume an
ommo ity
o t re u tion initiati e an
on entrate to pile
ein t e i eren e et een t e
D&A
For the year ended 31 December
Property Plant & Equipment (‘
ine propertie
lea e amorti ation
ntan i le amorti ation
2023
’)
2022
VAR
$’000
(
$’000
(
$’000
$’000
0
)
)
(
)
( )
$’000
otal & o $
000 ( 0 $
000) in lu e & in relation to t e E treme eat er E ent an ea o i e ar e not in lu e in o t o
ale &
a lo er in t e e on al o t e eportin Perio re le tin t e impairment o PPE an
ine propertie a et reporte at t e al year
24
