MINEROS S.A.

CONDENSED INTERIM CONSOLIDATED FINANCIAL

STATEMENTS

For the three and nine-month ended 30 September 2021

and 2020 and December 31, 2020

(Expressed in Thousands of United States Dollars)

General Notes

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF PROFIT OR LOSS ................................................................

3

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME................................................

4

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION.........................................................

5

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION.........................................................

6

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY .........................................................

7

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS .......................................................................

8

NOTE 1. CORPORATE INFORMATION ..........................................................................................................................

9

NOTE 2. STATEMENT OF COMPLIANCE .....................................................................................................................

11

NOTE 3. BASIS OF PRESENTATION .............................................................................................................................

11

NOTE 4. RECENT ACCOUNTING PRONOUNCEMENTS................................................................................................

12

NOTE 5. FINANCIAL INSTRUMENTS ...........................................................................................................................

12

NOTE 6. IMPAIRMENT ...............................................................................................................................................

15

NOTE 7. SEGMENTS ...................................................................................................................................................

17

NOTE 8. REVENUES ....................................................................................................................................................

20

NOTE 9. COST OF SALES.............................................................................................................................................

20

NOTE 10. EARNINGS PER SHARE................................................................................................................................

21

NOTE 11. CASH AND CASH EQUIVALENTS .................................................................................................................

23

NOTE 12. TRADE AND OTHER RECEIVABLES .............................................................................................................

23

NOTE 13. INVENTORIES .............................................................................................................................................

24

NOTE 14. TAXES .........................................................................................................................................................

24

NOTE 15. OTHER ASSETS...........................................................................................................................................

27

NOTE 16. EXPLORATION AND EVALUATION PROJECTS ............................................................................................

27

NOTE 17. INTAGIBLE ASSETS,NET .............................................................................................................................

28

NOTE 18. PROPERTY PLANT AND EQUIPMENT, NET .................................................................................................

28

NOTE 19. LOANS AND OTHER BORROWINGS ............................................................................................................

29

NOTE 20. TRADE AND OTHER PAYABLES ...................................................................................................................

30

NOTE 21. PROVISIONS ...............................................................................................................................................

31

NOTE 22. OTHER ACCUMULATED COMPREHENSIVE INCOME ..................................................................................

32

NOTE 23. TRANSACTIONS AND BALANCES WITH RELATED PARTIES .........................................................................

32

NOTE 24. SUBSEQUENT EVENTS................................................................................................................................

33

NOTE 25. APPROVAL OF FINANCIAL STATEMENTS....................................................................................................

33

2

MINEROS S.A.

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF PROFIT OR LOSS

FOR THE THREE AND NINE-MONTHS ENDED SEPTEMBER 30 2021 AND 2020 (UNAUDITED)

AMOUNTS EXPRESSED IN THOUSANDS OF U.S. DOLLARS

Three months ending

Nine months ending September 30

September 30

Note

2021

2020

2021

2020

Revenues

8

120,188

121,263

374,029

363,821

Costs of sales

9

(94,769)

(78,548)

(275,678)

(234,029)

GROSS PROFIT

25,419

42,715

98,351

129,792

Administration expenses

(4,666)

(3,570)

(14,703)

(11,794)

Other income

382

1,647

2,041

2,727

Other expenses

(2,272)

(4,678)

(11,253)

(13,629)

Exploration expenses

(5,033)

(1,645)

(7,551)

(7,945)

Impairment of Asset

6

-

-

-

(7,947)

Finance income

265

299

1,088

622

Finance expense

(2,192)

(1,883)

(6,732)

(6,278)

Gain/(Loss) from Hedging operations

-

2,725

-

(2,490)

Foreign currency exchange differences

(1,943)

2,006

(344)

(359)

PROFIT FOR THE PERIOD BEFORE

13,846

37,616

60,897

82,699

TAX

-

Current tax

14

(6,812)

(10,364)

(23,512)

(31,501)

Deferred tax

14

1,116

(2,457)

(5,058)

(1,698)

NET PROFIT FOR THE PERIOD

8,150

25,795

32,327

49,500

Attributable to:

Controlling interest

8,150

24,730

32,211

49,290

Non-controlling interests

-

65

116

210

NET PROFIT FOR THE PERIOD

8,150

24,795

32,327

49,500

Basic and diluted earnings

per

10

0.03

0.09

0.12

0.19

share in U.S. Dollars

(Signed)"Andrés Restrepo Isaza"

(Signed)"Miguel Angél Hinestroza Hoyos"

ANDRÉS RESTREPO ISAZA

MIGUEL ÁNGEL HINESTROZA HOYOS

PRESIDENT AND CEO

CPA

T.P.74290-T

3

MINEROS S.A.

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

FOR THE THREE AND NINE-MONTH ENDED SEPTEMBER 30 2021 AND 2020 (UNAUDITED)

AMOUNTS EXPRESSED IN THOUSANDS OF U.S. DOLLARS

Three months ending September

Nine months ending

30

September 30

2021

2020

2021

2020

NET PROFIT FOR THE PERIOD

8,150

24,795

32,327

49,500

Other comprehensive income, net of taxes

Items that will not be reclassified to results for the

period:

Remeasurement of defined benefit plans

-

-

4

-

Revaluation of property, plant and equipment

(83)

-

104

-

(83)

-

108

-

Items that will be reclassified to results for the

period:

Cash flows hedges

Foreign exchange differences on translation of foreign operations

Foreign exchange differences on translation of foreign operations non-controlling interests

Other comprehensive income, net of taxes

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

Total comprehensive income attributable to:

Controlling interest

Non-controlling interests

(152)

(796)

2,129

(1,268)

(171)

65,065

196

46,065

(323)

64,269

2,325

44,797

-

(257)

24

(262)

(406)

64,012

2,457

44,535

7,744

88,807

34,784

94,035

7,744

88,999

34,644

94,087

-

(192)

140

(52)

7,744

88,807

34,784

94,035

(Signed)"Andrés Restrepo Isaza"

(Signed)"Miguel Angél Hinestroza Hoyos"

ANDRÉS RESTREPO ISAZA

MIGUEL ÁNGEL HINESTROZA HOYOS

PRESIDENT AND CEO

CPA

T.P.74290-T

4

MINEROS S.A.

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

AS OF SEPTEMBER 30, 2021, AND DECEMBER 31,2020 (UNAUDITED)

AMOUNTS EXPRESSED IN THOUSANDS OF U.S. DOLLARS

Notes

30/09/2021

31/12/2020

ASSETS

Current assets

Cash and cash equivalents

11

51,776

63,598

Trade and other receivables

12

30,051

19,811

Inventories

13

50,476

64,621

Derivative financial instruments

5

3,540

11,332

Investments

98

1,563

Income tax receivables

14

8,140

5,189

Other tax receivables

14

18,717

29,192

Other assets

15

9,923

4,969

Current assets

172,721

200,275

Non-current assets

Trade and other receivables

12

1,981

2,414

Inventories

13

25,153

21,232

Investments

4,763

5,235

Other tax receivables

14

522

592

Deferred tax assets

14

1,397

4,612

Investment property

2,441

2,441

Exploration and evaluation projects

16

60,169

26,112

Intangible assets, net

17

33,729

39,897

Property, plant and equipment, net

18

262,231

239,425

Total non-current assets

392,386

341,960

TOTAL ASSETS

565,107

542,235

(Signed)"Andrés Restrepo Isaza"

(Signed)"Miguel Angél Hinestroza Hoyos"

ANDRÉS RESTREPO ISAZA

MIGUEL ÁNGEL HINESTROZA HOYOS

PRESIDENT AND CEO

CPA

T.P.74290-T

5

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Mineros SA published this content on 22 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 November 2021 13:24:07 UTC.