Adriatic Metals PLC
("Adriatic Metals" or the "Company")
Report on Payments to Governments for the Year Ended 31 December 2021
Adriatic Metals (ASX:ADT, LSE:ADT1) advises, in accordance with DTR 4.3A and in compliance with The Reports on Payments to Governments Regulations 2014 as amended (the Regulations), the payments made by the Company and its subsidiaries to governments for the year ended 31 December 2021.
| Beneficiary of payment | Nature of payment |
| ||||||
| (In GBP'000) | Production entitlements | Taxes paid | Royalties paid | Dividends paid | Signature, discovery and production bonuses paid | Licence fees, rental fees, entry fees and other considerations for licences and/or concessions paid | Infrastructure improvements paid | Total |
| Serbia |
|
|
|
|
|
|
|
|
| State budget: National budget | - | - | - | - | - | 9 | - | 9 |
| Bosnia and Herzegovina | | | | | | | |
|
| Federation of Bosnia and Herzegovina | - | - | - | - | - | 286 | - | 286 |
| Municipality Vares | - | - | - | - | - | 3 | - | 3 |
| Ze Do Canton | - | - | - | - | - | 184 | - | 184 |
| Total | - | - | - | - | - | 482 | - | 482 |
Basis of preparation:
a) Payments made in currencies other than GBP are translated at the average foreign exchange rate for the relevant month.
b) Taxes paid include taxes levied on the income, production or profits of companies but excludes any taxes levied on consumption such as value added taxes, personal income taxes or sales taxes.
This report is available for download at https://www.adriaticmetals.com/investors/lse-announcements/
Authorised by, and for further information please contact:
Paul Cronin
Managing Director & CEO
info@adriaticmetals.com
*
* ENDS **
For further information please visit www.adriaticmetals.com; @AdriaticMetals on Twitter; or contact:
| Adriatic Metals PLC | |
| Paul Cronin | |
| | |
| Canaccord Genuity Limited (Joint Corporate Broker) |
|
| Jeremy Dunlop (Australia) | Tel: +61 2 9263 2700 |
| James Asensio (UK) | Tel: +44 (0) 207 523 8000 |
| | |
| RBC Capital Markets (Joint Corporate Broker) |
|
| Marcus Jackson / Jamil Miah | Tel: +44 (0) 20 7653 4000 |
| | |
| Stifel Nicolaus Europe Limited (Joint Corporate Broker) | |
| Ashton Clanfield / Callum Stewart | Tel: +44 (0) 20 7710 7600 |
| | |
| Buchanan | |
| Bobby Morse / Ariadna Peretz | Tel: +44 (0) 207 466 5000 adriatic@buchanan.uk.com |
| | |
| | |
ABOUT ADRIATIC METALS
Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) is a precious and base metals developer that is advancing the world-class Vares Silver Project in Bosnia & Herzegovina, as well as the Raska Zinc-Silver Project in Serbia.
The Vares Silver Project is fully-funded to production, which is expected in Q2 2023. The 2021 Project Definitive Feasibility Study boasts robust economics of US$1,062 million post-tax NPV8, 134% IRR and a capex of US$168 million. Concurrent with ongoing construction activities, the Company continues to explore across its highly prospective 41km2 concession package.
There have been no material changes to the assumptions underpinning the forecast financial information derived from the production target in the 19 August 2021 DFS announcement and these assumptions continue to apply and have not materially changed. Adriatic Metals is not aware of any new information or data that materially affects the information included in the announcement of the updated Mineral Resource Estimate announced on 1 September 2020 and all material assumptions and technical parameters underpinning the Mineral Resource Estimate continue to apply and have not materially changed.
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