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RTNominal up0.880 +0.020 (+2.326%)

08/02/2022 17:51

Dragon Mining (01712) sees decrease in year profit

[ET Net News Agency, 8 February 2022] Dragon Mining Limited (01712) said it is expected
that the group will record a net profit after tax for the year ended 31 December 2021
ranging between approximately AU$0.1 and AU$0.5 million, as compared to the net profit
after tax of AU$10.2 million for the year ended 31 December 2020.
It was due to (a) the group's Finnish operations incurring an AU$3.7 million income tax
expense after having utilised all of its carry forward tax losses; (b) the corresponding
period includes gold produced from higher grade test-mining ore tonnes at Faboliden from
May to September 2020; and (c) lower average mined ore grade as a result of Vammala
processing only ore tonnes mined from the Jokisivu mine upon completion of open pit mining
at Kaapelinkulma in April 2021 and exhausting the remaining stockpiles of Orivesi ore.

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