Report on Payments to Governments

RNS Number : 3098C

Adriatic Metals PLC

18 June 2021

 

Adriatic Metals PLC 

("Adriatic Metals" or the "Company")

Report on Payments to Governments for the Year Ended 31 December 2020

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 2020.

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	-	-	-	-	-	19	-	19
Bosnia and Herzegovina
Federation of Bosnia and Herzegovina	-	-	-	-	-	7	-	7
Municipality Vares	-	-	-	-	-	2	60	62
Ze Do Canton	-	-	-	-	-	337	-	337
Total	-	-	-	-	-	365	60	425

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
[e-mail]

** ENDS **

For further information please visit  www.adriaticmetals.com ; @AdriaticMetals on Twitter; or contact:

Adriatic Metals PLC
Paul Cronin / Thomas Horton	Tel: [phone]
Canaccord Genuity Limited (Joint Corporate Broker)
Jeremy Dunlop (Australia)	Tel: [phone]
James Asensio  (UK)	Tel: [phone]
RBC Capital Markets (Joint Corporate Broker)
Marcus Jackson / Jamil Miah	Tel: [phone]
Stifel Nicolaus Europe Limited (Joint Corporate Broker)
Ashton Clanfield / Callum Stewart	Tel: [phone]
Tavistock Communications Limited
Charles Vivian	Tel: [phone]
The Capital Network
Julia Maguire / Lelde Smits	Tel: [phone]

ABOUT ADRIATIC METALS

Adriatic Metals Plc (ASX:ADT, LSE:ADT1) 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 Project Pre-Feasibility Study boasts robust economics of US$1,040 million post-tax NPV₈, 113% IRR and a capex of US$173 million. The Company is the only publicly listed mining company exploring in Bosnia and is leveraging its first-mover advantage. The Company is well-funded and concurrent with the advancing Definitive Feasibility Study, continues exploring across its large concession package.

Adriatic Metals Plc completed the acquisition TSX-listed Tethyan Resource Corp.  in Q4 2020, which contained the Raska Zinc-Silver Project in southern Serbia. The Company is exploring across its 95km² highly prospective concession area, which includes around the formerly operating Kizevak and Sastavci polymetallic mines.

There have been no material changes to the assumptions underpinning the forecast financial information derived from the production target in the 15 October 2020 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.

 

END

 

 

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