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 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.