INSIDE INFORMATION REVISED RESULTS FOR THE THIRD QUARTER ENDED SEPTEMBER 30, 2022
* The HK$ amount was converted using the period end exchange rate of $1 CAD = $5.7268 HKD as at September 30, 2022.
Impact of the Adjustment on the consolidated financial statements of the Company for 3Q22 are as follows: |
Impact on Condensed Consolidated Interim Statements of Financial Position (Expressed in thousands of Canadian dollars) |
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September 30, 2022 |
Amount Before adjustment |
Change in amount |
Amount after adjustment |
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Exploration and evaluation |
282,931 |
85,039 |
367,970 |
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Property, plant and equipment |
632,114 |
211,251 |
843,365 |
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Non-Current Assets |
934,227 |
296,290 |
1,230,517 |
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Total Assets |
944,563 |
296,290 |
1,240,853 |
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Deficit |
(1,080,636) |
296,290 |
(784,346) |
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Equity attributable to owners of the Company |
306,189 |
296,290 |
602,479 |
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Shareholders' Equity |
305,279 |
296,290 |
601,569 |
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Impact on Condensed Consolidated Interim Statements of Operations and Comprehensive Profit and Loss (Expressed in thousands of Canadian dollars, except for per share amounts) |
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Amount Before adjustment |
Change in amount |
Amount after adjustment |
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Three months ended September 30, 2022 |
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Reversal of impairment loss on E&E and PP&E |
(64,869) |
(296,290) |
(361,159) |
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Expenses |
(38,456) |
(296,290) |
(334,746) |
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Profit/(Loss) before income taxes |
26,581 |
296,290 |
322,871 |
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Net profit/(loss) |
26,581 |
296,290 |
322,871 |
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Net profit/(loss) and comprehensive profit/(loss) for the year attributable to owners of the Company |
26,655 |
296,290 |
322,945 |
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Basic and diluted profit/(loss) per share |
$0.11 |
$1.22 |
$1.33 |
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Amount Before adjustment |
Change in amount |
Amount after adjustment |
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Nine months ended September 30, 2022 |
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Reversal of impairment loss on E&E and PP&E |
(191,816) |
(296,290) |
(488,106) |
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Expenses |
(126,197) |
(296,290) |
(422,487) |
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Profit/(Loss) before income taxes |
128,912 |
296,290 |
425,202 |
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Net profit/(loss) |
128,912 |
296,290 |
425,202 |
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Net profit/(loss) and comprehensive profit/(loss) for the year attributable to owners of the Company |
129,139 |
296,290 |
425,429 |
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Basic and diluted profit/(loss) per share |
$0.53 |
$1.22 |
$1.75 |
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Impact on Condensed Consolidated Interim Statements of Changes in Shareholders’ Equity (Expressed in thousands of Canadian dollars) |
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Amount Before adjustment |
Change in amount |
Amount after adjustment |
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Nine months ended September 30, 2022 |
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Total Attributable to Equity Holders |
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Deficit |
(1,080,636) |
296,290 |
($784,346) |
|
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Total |
306,189 |
296,290 |
$602,479 |
|
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Non-controlling interests |
(910) |
- |
($910) |
|
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Total Equity |
305,279 |
296,290 |
$601,569 |
|
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Impact on Condensed Consolidated Interim Statements of Cash Flows (Expressed in thousands of Canadian dollars) |
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Amount Before adjustment |
Change in amount |
Amount after adjustment |
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Three months ended September 30, 2022 |
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Net profit/(loss) |
26,581 |
296,290 |
322,871 |
|
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Depletion, depreciation and impairment |
(62,890) |
(296,290) |
(359,180) |
|
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Amount Before adjustment |
Change in amount |
Amount after adjustment |
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Nine months ended September 30, 2022 |
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Net profit/(loss) |
128,912 |
296,290 |
425,202 |
|
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Depletion, depreciation and impairment |
(189,370) |
(296,290) |
(485,660) |
|
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Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.
Hong Kong, February 15, 2023
Calgary, February 14, 2023
As at the date of this Announcement, the Board consists of Mr. Kwok Ping Sun and Ms. Gloria Pui Yun Ho as executive directors; Mr. Michael John Hibberd, Ms. Linna Liu and Ms. Xijuan Jiang as non-executive directors; and Mr. Yi He, Mr. Alfa Li and Mr. Guangzhong Xing as independent non-executive directors.