20974 29Metals AR23 WEB V1 - Flipbook - Page 105
2023 key
results
Chair letter and
CEO report
About
29Metals
Our
assets
Sustainability
& ESG Report
Mineral Resources
and Ore Reserves
Annual
Financial Report
101
29Metals Appendix 4E and Annual Financial Report for 29Metals Limited and its Controlled Entities for the year ended 31 December 2023
26
Directors’ Report
Operating and Financial Review
Impairment and NRV Assessment
s a result of i pair ent indicators a for al assess ent of the carr ing value of the Golden Grove and Capricorn Copper CGUs as co pleted at the
half ear ended
une
and at
ece er
here each CGU’s fair value less costs of disposal (‘&s>’) as co pared against the carr ing
value
or Capricorn Copper the
C included the forecast costs associated ith the recover of operations follo ing the
non cash i pair ent charge of
perfor ed as at
ece er
as recorded for the Capricorn Copper CGU at the half ear
no further i pair ent loss ad ust ent as re uired to e recognised
tre e
eather vent
s a result of the i pair ent test
e penses for Capricorn Copper on a loo for ard asis ill reflect the value of assets post i pair ent
here as no i pair ent recorded for the Golden Grove CGU
su
ar of the e assu ptions and sensitivities in relation to the i pair ent assess ent are included in ote
tate ents
of the Consolidated inancial
rite do ns at
ece er
include a rite do n of surface ore and concentrate stoc piles at oth operating sites predo inantl as a result of
changes in etal price assu ptions and co prise
▪
an
rite do n of
relating to Capricorn Copper ore stoc piles
▪
an
rite do n of
relating to Golden Grove inc copper and lead
▪
an
rite do n of
relating to Golden Grove gold ore stoc piles
ore and concentrate stoc piles and
For the year ended 31 December
tre e
– nventories –
2023
2022
VAR
eather vent
rite do n
(
– sset i pair ent e pense
pair ent e pense relating to Capricorn Copper cash generating unit (‘'h’)
Capricorn Copper nventories –
Golden Grove nventories –
)
(
(
(
Golden Grove nventories – gold stoc piles
dŽƚĂůĂƐƐĞƚŝŵƉĂŝƌŵĞŶƚĞdžƉĞŶƐĞĂŶĚEZsǁƌŝƚĞĚŽǁŶ
ΨΖϬϬϬ
)
(
)
rite do n
rite do n
(
)
)
(
)
)
(
)
(
)
(
)
(
)
(
)
;ϮϬϳ͕ϯϴϬͿ
Ϭ
;ϮϬϳ͕ϯϴϬͿ
EBITDA
he Group recorded an
loss of
for the eporting eriod (
for the eporting eriod is set out in the follo ing ta le
)
For the year ended 31 December
;E>dͿͬEWd
ΨΖϬϬϬ
reconciliation of Group
2023
2022
VAR
;ϰϰϬ͕ϰϲϯͿ
;ϰϳ͕ϮϮϮͿ
;ϯϵϯ͕ϮϰϭͿ
dd nco e ta e pense ( enefit)
(
dd
tre e
dd
pair ent e pense relating to Capricorn Copper CGU
to Group
)
eather vent – asset i pair ent as a result of da age or loss
rite off of e ploration and evaluation e penditure
rite do n of inventor – stoc pile
dd
et finance costs
dd
epreciation and a ortisation
(
dd Unrealised foreign e change loss
dd
(
)
)
(
)
et loss on derivative financial instru ents
/dϭ
/dis a non
ΨΖϬϬϬ
financial infor ation
etric
efer to page
for i portant infor ation regarding the use of non
;Ϯϭ͕ϭϴϲͿ
financial infor ation
ϭϱϭ͕ϱϳϵ
;ϭϳϮ͕ϳϲϱͿ
etrics in this report
26
