Ann: Half Yearly Report and Accounts, page-37

"The report states Net Tangible Assets per Share as 31/12/21 - $2.10 and 31/12/20 - $1.75.
The report from this time last year states - 31/12/20 - $0.66 and 31/12/19 - $0.59
How has the Net Tangible Assets per Share figure for 31/12/20 increased by 250% since last years H1 results. Sorry if this is a dumb question, but shouldn't this figure stay the same? "

The most likely explanation is that in order to get comparable figures of the Tropicana-acquisition (even if concluded in 2021) were incorporated into the 31/12/20 figures. Otherwise the asset per share figure in comparison would be distorted and misleading.

Also as to the question of the massive D/A-increase and the reduced overall profitability (%-figure earnings/turnover): Most of the payment on the Tropicana acquisition naturally has been capitalized and now has to be written off. The proiftability of Tropicana after D/A was bound to be lower than the rest of the business (which is probably an important reason why market has been very reluctant to greet that event with warmth) and therefore overall profitability (as a relative term to turnover) is lower. Unfortunately other reasons (especially overakk rising costs/AISC) have added to that development.

Except for the write downs on stock piles these figures largely were to be expected. Also RRL is investing much more than in previous times. With rising GOP that should pay off mid-term.
gltah