METALS X LIMITED The Board of Metals X is pleased to release its half year results for the first half of the 2014/2015 financial year.
Key Financial Highlights and comparison to corresponding period in previous year.Half Yr Ending 31-Dec-14 | Half Yr Ending 31-Dec-13 | Increase | |
Revenue $ | 149,284,856 | 72,703,370 | 105% |
EBITDA $ | 45,798,329 | 19,224,253 | 138% |
Profit before impairments $ | 26,542,083 | 11,230,998 | 136% |
Impairments $ | (10,631,443) | (2,020,875) | n/a |
Net profit after tax $ | 15,910,640 | 9,210,133 | 73% |
Cashflow from operating activities $ | 37,347,314 | 21,679,898 | 72% |
Capital & exploration works funded $ | 30,907,595 | 17,312,250 | 79% |
Return on equity % * | 5.07 | 3.30 | 53% |
Cash balance $ | 107,080,618 | 36,621,387 | 192% |
Cash and working capital $ | 100,587,381 | 49,553,577 | 103% |
Net assets $ | 316,584,220 | 284,085,846 | 11% |
Earnings per share (cents per share) | 3.84 | 2.23 | 72% |
* Return on equity is for the six month period only. Six month pre-impairment return on equity was 8.45% (2013: 4.03%).
Underlying cash flow was in line with expectations. Impairments were recognised on the carrying value of the Chalice underground mine at the Higginsville Gold Operation which was closed during the half year period. Additionally, consolidation and rationalisation of exploration carrying values at the Central Murchison Gold Project resulted in an impairment which was conservatively taken in readiness for the project start-up.
Commenting on the results, Metals X Executive Director & CEO, Peter Cook said
"The results show a very pleasing and solid fiscal performance for the Company with 'in-line' performance from our gold and tin operations. The real highlight in the half year is the physical growth in the Company's gold division that has expanded with further acquisitions at the Central Murchison and recently, the Central Tanami Gold Project. The commercial impact of this growth will be evident in the ensuing years as these assets move into production. Our regional exploration has delivered much success with additional high grade copper-gold results from Rover 1, a new lead-zinc discovery at Curiosity and newly discovered copper-zinc gossans at Warumpi."
Metals X has a dividend policy whereby the Board intends that up to 30% of NPAT will be paid to shareholders on an annual basis and a dividend re-investment plan is offered. Metals X also completed a 1 for 4 reconstruction of capital during the year.
ENQUIRIES | ||
Peter Cook Executive Director & CEO e: peter.cook@metalsx.com.au | Warren Hallam Executive Director e: warren.hallam@metalsx.com.au | Rod Corps Manager - Investor Relations e: rod.corps@metalsx.com.au |
ASX Code: MLX
OTCQX Code: MLXEF
Level 3, 18-32 Parliament Place
West Perth WA 6005
Australia
reception@metalsx.com.au www.metalsx.com.au
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