AIS 2.56% 19.0¢ aeris resources limited

After completing further reconciliations, I have to revise my...

  1. 10,598 Posts.
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    After completing further reconciliations, I have to revise my P&L FY21 predictions and also attach a Cash flow statement.
    FY21 P& L with last year's actuals in brackets $Amil:

    Revenue from operations 421(227) --- Copper 234(227), Gold 187(0)
    Cost of Goods sold -317(-217) ---- Copper -184(-217), Gold -133(0)
    Gross profit from operations 104(10) --- Copper 50(10), Gold 54(0)

    Exploration expense -1(-1)
    Administration -15(-9)
    Foreign exchange 1(-3)
    Other expenses 0(-1)
    Transaction expense -4(-3)
    Impairment write-back 23(-23)
    Profit before finance costs 108(-30)

    Net finance costs -13(-8)
    Profit before income tax 95(-38)
    Income tax expense 0(0)
    Profit for the year 95(-38)

    Detail on Cost of Goods sold:
    Cost of production - mining 251(182) ---- Copper 166(182), Gold 85(0)
    Depreciation - Plant 21(17) ---- Copper 13(17), Gold 8(0)
    Amortisation - mine properties 45(18) ---- Copper 5(18), Gold 40(0)
    Total Cost of Goods 317(217)

    There was a $18.2mil net hedging loss for the year comprised of a $20.5mil loss from copper hedging and a $2.3mil surplus from gold hedging. There was a further copper hedging loss unrealised at 30Jun amounting to $3.6mil gross less tax benefit of $1.1mil = $2.5mil loss that will appear below the line in Comprehensive Income for the July21 copper hedging.
    Aeris cashflow.pdf Cashflow Statement for FY21
 
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