Adriatic Metals PLC Payments to Governments for FY 2021 (7487Q)

TIDMADT1

RNS Number : 7487Q

Adriatic Metals PLC

30 June 2022

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                                            Nature of payment 
  of payment 
 (In GBP'000)     Production     Taxes    Royalties    Dividends    Signature,       Licence       Infrastructure   Total 
                  entitlements    paid       paid         paid       discovery     fees, rental     improvements 
                                                                        and        fees, entry          paid 
                                                                    production       fees and 
                                                                      bonuses         other 
                                                                       paid       considerations 
                                                                                   for licences 
                                                                                      and/or 
                                                                                   concessions 
                                                                                       paid 
                --------------  -------  -----------  -----------  ------------  ---------------  ---------------  ------ 
 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

[e-mail]

*

* 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: [phone] 
 James Asensio (UK)                             Tel: +44 (0) 207 
                                                 523 8000 
 
 RBC Capital Markets (Joint Corporate Broker) 
 Marcus Jackson / Jamil Miah                    Tel: [phone] 
                                                 4000 
 
 Stifel Nicolaus Europe Limited (Joint 
  Corporate Broker) 
 Ashton Clanfield / Callum Stewart              Tel: [phone] 
                                                 7600 
 
 Buchanan 
 Bobby Morse / Ariadna Peretz                   Tel: +44 (0) 207 
                                                 466 5000 [e-mail] 
 
 
 

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 41km(2) 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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June 30, 2022 02:05 ET (06:05 GMT)