PYX Resources Limited Preliminary Final Report

RNS Number : 7146A

PYX Resources Limited

14 March 2025

 

FORM: Preliminary final report

Name of issuer

PYX Resources Limited

 

ACN or ARBN		Half yearly (tick)		Preliminary final (tick)		Financial year ended ('Current period')
ABN 30 073 099 171				ü		31 December 2024

 

 

For announcement to the market
Extracts from this statement for announcement to the market (see note 1).

									$US,000
Revenue (item 1.1)		up/down		(51)	%		to		11,042
Profit (loss) for the period (item 1.9)		up/down		67	%		to		(3,448)
Profit (loss) for the period attributable to members of the parent (item 1.11)		up/down		88	%		to		(1,246)
Dividends    Franking rate applicable:			Current period			Previous corresponding period
Final dividend (preliminary final report only)(item 10.13-10.14) Amount per security Franked amount per security Interim dividend (Half yearly report only) (item 10.11 -10.12) Amount per security Franked amount per security			-			-
			-			-
Short details of any bonus or cash issue or other item(s) of importance not previously released to the market:

 

 

Consolidated income statement (The figures are not equity accounted)

(see note 3)

(as per paragraphs 81-85 and 88-94 of AASB 101: Presentation of Financial Statements)

			Current period - $US'000	Previous corresponding period - $US'000
1.1	Revenues (item 7.1)		11,042	22,672
1.2	Other income		-	29
1.3	Expenses, excluding finance costs (item 7.3)		(15,123)	(33,157)
1.4	Finance costs		-	-
1.5	Share of net profits (losses) of associates and joint ventures (item 15.7)		-	-
1.6	Profit (loss) before income tax		(4,081)	(10,456)
1.7	Income tax expense (see note 4)		633	-
1.8	Profit (loss) from continuing operations		-	-
1.9	Profit (loss) from discontinued operations (item 13.3)
1.10	Profit (loss) for the period		(3,448)	(10,456)
1.11	Profit (loss) attributable to minority interests		(2,202)	132
	Profit (loss) attributable to members of the parent		(1,246)	(10,588)
1.12
1.13	Basic earnings per security (item 9.1)		(0.75)	(2.32)
1.14	Diluted earnings per security (item 9.1)		(0.75)	(2.32)
1.15	Dividends per security ( item 9.1)		-	-

 

 

 

 

Comparison of half-year profits

 

(Preliminary final statement only)

		Current period - $US'000	Previous corresponding period - $US'000
2.1	Consolidated profit (loss) after tax attributable to members reported for the 1st half year (item 1.11 in the half yearly statement)	(717)	(9,296)
2.2	Consolidated profit (loss) after tax attributable to members for the 2nd half year	(1,246)	(10,588)

 

Consolidated balance sheet

(See note 5)

(as per paragraphs 68-69 of AASB 101: Financial Statement Presentation)

	Current assets	Current period -$US'000	Previous corresponding period -  $US'000
3.1	Cash and cash equivalents	5,008	7,829
3.2	Trade and other receivables	2,099	1,558
3.3	Inventories	54	2,309
3.4	Other current assets (provide details if material)	1,035	1,338
3.5	Total current assets	8,196	13,034
	Non-current assets
3.6	Available for sale investments	-	-
3.7	Other financial assets	-	-
3.8	Investments in associates	-	-
3.9	Deferred tax assets	1,127	527
3.10	Exploration and evaluation expenditure capitalised (see para. 71 of AASB 1022 - new standard not yet finalised)	-	-
3.11	Development properties (mining entities)	-	-
3.12	Property, plant and equipment (net)	6,939	6,042
3.13	Investment properties	-	-
3.14	Goodwill	8	8
3.15	Other intangible assets	73,648	73,488
3.16	Other (provide details if material)	9	2
3.17	Total non-current assets	81,731	80,067
3.18	Total assets	89,927	93,101
	Current liabilities
3.19	Trade and other payables	1,205	1,370
3.20	Short term borrowings	19	-
3.21	Current tax payable	-	-
3.22	Short term provisions	-	-
3.23	Current portion of long term borrowings	-	-
3.24	Other current liabilities (provide details if material)	8,298	7,608
		9,522	8,978
3.25	Liabilities directly associated with non-current assets classified as held for sale (para 38 of AASB 5)	-	-
3.26	Total current liabilities	9,522	8,978
	Non-current liabilities	9,522	8,978
		Current period - $US'000	Previous corresponding period - $US'000
3.27	Long-term borrowings	-	-
3.28	Deferred tax liabilities	-	-
3.29	Long term provisions	-	-
3.30	Other (provide details if material)	-	-
3.31	Total non-current liabilities	-	-
3.32	Total liabilities	9,522	8,978
3.33	Net assets	80,405	84,123
	Equity
3.34	Share capital	105,787	105,592
3.35	Other reserves	599	672
3.36	Retained earnings	(22,004)	(20,758)
			-
	Amounts recognised directly in equity relating to non-current assets classified as held for sale		-
3.37	Parent interest	-	-
3.38	Minority interest	(3,977)	(1,383)
3.39	Total equity	80,405	84,123

 

Consolidated statement of changes in equity

(as per paragraphs 96-97 of AASB 101: Presentation of Financial Statements)

		Current period - US$'000	Previous corresponding period - US$'000
	Revenues recognised directly in equity:	-	-
	Expenses recognised directly in equity:	-	-
4.1	Net income recognised directly in equity	-	-
4.2	Profit for the period	(3,448)	(10,456)
4.3	Total recognised income and expense for the period
	Attributable to:
4.4	Members of the parent	(1,246)	(10,588)
4.5	Minority interest	(2,202)	132
	Effect of changes in accounting policy (as per AASB 108: Accounting Policies, Changes in Accounting Estimates and Errors):
4.6	Members of the parent entity	-	-
4.7	Minority interest	-	-

 

Consolidated statement of cash flows
(See note 6)

(as per AASB 107: Cash Flow Statements)

		Current period -$US'000	Previous corresponding period - $US'000
	Cash flows related to operating activities
5.1	Receipts from customers	10,775	22,466
5.2	Payments to suppliers and employees	(11,849)	(24,165)
5.3	Interest and other costs of finance paid	(8)	(56)
5.4	Income taxes paid	18	(195)
5.5	Other (provide details if material)	-	29
5.6	Net cash used in operating activities	(1,064)	(1,921)
	Cash flows related to investing activities
5.7	Payments for purchases of property, plant and equipment	(1,395)	(2,524)
5.8	Proceeds from sale of property, plant and equipment	-	-
5.9	Payment for purchases of equity investments	-	-
5.10	Proceeds from sale of equity investments	-	-
5.11	Loans to other entities	-	-
5.12	Loans repaid by other entities	-	-
5.13	Interest and other items of similar nature received	-	-
5.14	Dividends received	-	-
5.15	Other (provide details if material)	-	-
5.16	Net cash used in investing activities	(1,395)	(2,524)
	Cash flows related to financing activities
5.17	Proceeds from issues of securities (shares, options, etc.)	-	-
5.18	Proceeds from borrowings	-	-
5.19	Repayment of borrowings	-	-
5.20	Dividends paid	-	-
5.21	Other (provide details if material)	(113)	5,099
5.22	Net cash used in financing activities	(113)	5,099
	Net increase (decrease) in cash and cash equivalents	(2,572)	654
5.23	Cash at beginning of period (see Reconciliations of cash)	7,829	7,221
5.24	Exchange rate adjustments to item 5.23	(249)	(47)
5.25	Cash at end of period (see Reconciliation of cash)	5,008	7,828

 

Reconciliation of cash provided by operating activities to profit or loss

(as per paragraph Aus20.1 of AASB 107: Cash Flow Statements)

		Current period $US'000	Previous corresponding period $US'000
6.1	Profit (item 1.9)	(3,448)	(10,456)
	Adjustments for:
6.2	Depreciation	346	361
6.3	Share-based payment	8	7,617
6.4	Exchange differences	(129)	90
6.5	Fair value change of financial instrument	878	1,685
6.6	Increase/decrease in trade and other receivables	(542)	(161)
6.7	Increase/decrease in advances to suppliers	402	187
6.8	Increase/decrease in inventories	2,254	(1,603)
6.9	Increase/decrease in prepayments and deposits	(60)	44
6.10	Increase/decrease in deferred tax assets	(600)	(3)
	Increase/decrease in trade and other payables	(134)	505
6.10	Increase/decrease in current tax liabilities	(39)	(187)
6.11	Net cash from operating activities (item 5.6)	(1,064)	(1,921)

 

Notes to the financial statements

Details of revenues and expenses

(see note 16)

(Where items of income and expense are material, disclose nature and amount below in accordance with paragraphs 86-87 of AASB 101: Presentation of Financial Statements)

		Current period - $US'000	Previous corresponding period - $US'000
7.1	Revenue       Total Revenue	11,042       11,042	22,672       22,672
7.2	Other income	-	29
7.3	Expenses Cost of sales Selling and distribution expenses Corporate and administrative expenses Other operating expenses Total Expenses	(8,623) (1,495) (2,305) (2,700) (15,123)	(19,895) (1,223) (2,588) (9,451) (33,157)
	Profit (loss) before tax	(4,081)	(10,456)

 

 

 

Ratios		Current period	Previous corresponding period
	Profit before tax / revenue
8.1	Consolidated profit (loss) before tax (item 1.5) as a percentage of revenue (item 1.1)	(37%)	(46%)
	Profit after tax / equity interests
8.2	Consolidated profit (loss) after tax attributable to members (item 1.11) as a percentage of equity (similarly attributable) at the end of the period (item 3.37)	-	-

 

Earnings per Security

9.1	Provide details of basic and fully diluted EPS in accordance with paragraph 70 and Aus 70.1 of AASB 133: Earnings per Share below:
	Basic profit per share =(US$3,448,323) / 460,497,688 Shares =(US$0.75) cents   Diluted profit per share =(US$3,448,323) / 460,497,688 Shares =(US$0.75) cents

 

Dividends

10.1		Date the dividend is payable	N/A
10.2		Record date to determine entitlements to the dividend (i.e. on the basis of registrable transfers received up to 5.00 pm if paper based, or by 'End of Day' if a proper ASTC/CHESS transfer)	N/A
10.3	If it is a final dividend, has it been declared? (Preliminary final report only)

 

10.4       The dividend or distribution plans shown below are in operation.

Currently the Company has no plan for dividend.

 

 

The last date(s) for receipt of election notices to the dividend or distribution plans

N/A

 

 

10.5       Any other disclosures in relation to dividends or distributions

N/A     .

Dividends paid or provided for on all securities

(as per paragraph Aus126.4 AASB 101: Presentation of Financial Statements)

		Current period - $US'000	Previous corresponding period - $US'000	Franking rate applicable
	Dividends paid or provided for during the reporting period
10.6 10.7	Current year interim Franked dividends	- -	- -	- -
10.8 10.9	Previous year final Franked dividends	- -	- -	- -
	Dividends proposed and not recognised as a liability
10.10	Franked dividends	-	-	-

 

 

 

 

 

Dividends per security

(as per paragraph Aus126.4 of AASB 101: Presentation of Financial Statements)

		Current year	Previous year	Franking rate applicable
	Dividends paid or provided for during the reporting period
10.11 10.12	Current year interim Franked dividends - cents per share	- -	- -	- -
10.13 10.14	Previous year final Franked dividends - cents per share	- -	- -	- -
	Dividends proposed and not recognised as a liability
10.15	Franked dividends - cents per share	-	-	-

 

Exploration and evaluation expenditure capitalised
To be completed only be issuers with mining interests if amounts are material.  Include all expenditure incurred regardless of whether written off directly against profit

		Current period $US'000	Previous corresponding period $US'000
11.1	Opening balance	-	-
11.2	Expenditure incurred during current period	-	-
11.3	Expenditure written off during current period	-	-
11.4	Acquisitions, disposals, revaluation increments, etc.	-	-
11.5	Expenditure transferred to Development Properties	-	-
11.6	Closing balance as shown in the consolidated balance sheet (item 3.10)	-	-

 

Development properties
(To be completed only by issuers with mining interests if amounts are material)

		Current period $US'000	Previous corresponding period $US'000
12.1	Opening balance	-	-
12.2	Expenditure incurred during current period	-	-
12.3	Expenditure transferred from exploration and evaluation	-	-
12.4	Expenditure written off during current period	-	-
12.5	Acquisitions, disposals, revaluation increments, etc.	-	-
12.6	Expenditure transferred to mine properties	-	-
12.7	Closing balance as shown in the consolidated balance sheet (item 3.11)	-	-

Discontinued Operations

(see note 18)

(as per paragraph 33 of AASB 5: Non-current Assets Held for Sale and Discontinued Operations)

		Current period - US$'000	Previous corresponding period - US$'000
13.1	Revenue	-	-
13.2	Expense	-	-
13.3	Profit (loss) from discontinued operations before income tax	-	-
13.4	Income tax expense (as per para 81 (h) of AASB 112)	-	-
13.5	Gain (loss) on sale/disposal of discontinued operations	-	-
13.6	Income tax expense (as per paragraph 81(h) of AASB 112)	-	-

Movements in Equity

(as per paragraph 97 of AASB 101: Financial Statement Presentation)

		Number issued	Number listed	Paid-up value (cents)	Current period - US$'000	Previous corresponding period - US$'000
14.1	Preference securities (description)	-	-	-	-	-
14.2	Balance at start of period	-	-	-	-	-
14.3	a)   Increases through issues	-	-	-	-	-
14.4	a)   Decreases through returns of capital, buybacks etc.	-	-	-	-	-
14.5	Balance at end of period	-	-	-	-	-
14.6	Ordinary securities (description)
14.7	Balance at start of period	458,817,161	458,817,161	-	105,592	102,227
14.8	a)   Increases through issues	2,826,693	2,826,693	-	378	3,365
14.9	b)   Decreases through returns of capital, buybacks etc.	-	-	-	(183)	-
14.10	Balance at end of period	461,643,854	461,643,854	-	105,787	105,592
14.11	Convertible Debt Securities (description & conversion factor)	-	-	-	-	-
14.12	Balance at start of period	-	-	-	-	-
14.13	a)   Increases through issues	-	-	-	-	-
14.14	b)   Decreases through maturity, converted.	-	-	-	-	-
14.15	Balance at end of period	-	-	-	-	-
		Number issued	Number listed	Paid-up value (cents)	Current period - US$'000	Previous corresponding period - US$'000
14.16	Options (description & conversion factor)
14.17	Balance at start of period	4,407,076	-	-	554	554
14.18	Issued during period	-	-	-	-	-
14.19	Exercised during period	-	-	-	-	-
14.20	Expired during period	-	-	-	-	-
14.21	Balance at end of period	4,407,076	-	-	554	554
14.22	Debentures (description)	-	-	-	-	-
14.23	Balance at start of period	-	-	-	-	-
14.24	a)   Increases through issues	-	-	-	-	-
14.25	b)   Decreases through maturity, converted	-	-	-	-	-
14.26	Balance at end of period	-	-	-	-	-
14.27	Unsecured Notes (description)	-	-	-	-	-
14.28	Balance at start of period	-	-	-	-	-
14.29	a)   Increases through issues	-	-	-	-	-
14.30	b)   Decreases through maturity, converted	-	-	-	-	-
14.31	Balance at end of period	-	-	-	-	-
14.32	Total Securities	466,050,930	461,643,854	-	106,341	106,341

 

 

 

 

		Current period - US$'000	Previous corresponding period - US$'000
	Reserves
14.33	Balance at start of period	672	8,905
14.34	Transfers to/from reserves	-	-
14.35	Total for the period	(73)	(8,233)
14.36	Balance at end of period	599	672
14.37	Total reserves	599	672
	Retained earnings
14.38	Balance at start of period	(20,758)	(26,027)
14.39	Changes in accounting policy
14.40	Share based payments cancelled	-	15,857
14.41	Profit for the balance	(1,246)	(10,588)
14.42	Total for the period
14.43	Dividends
14.44	Balance at end of period	(22,004)	(20,758)

 

Details of aggregate share of profits (losses) of associates and joint venture entities

(equity method)

(as per paragraph Aus 37.1 of AASB 128: Investments in Associates and paragraph Aus 57.3 of AASB 131: Interests in Joint Ventures)

Name of associate or joint venture entity

N/A

 

Reporting entities percentage holding

N/A

 

		Current period - $US'000	Previous corresponding period - $US'000
15.1	Profit (loss) before income tax	-	-
15.2	Income tax	-	-
15.3	Profit (loss) after tax	-	-
15.4	Impairment losses	-	-
15.5	Reversals of impairment losses	-	-
15.6	Share of non-capital expenditure contracted for (excluding the supply of inventories)	-	-
15.7	Share of net profit (loss) of associates and joint venture entities	-	-

 

Control gained over entities having material effect
(See note 8)

16.1

Name of issuer (or group)

N/A

 

		$US'000
16.2	Consolidated profit (loss) after tax of the issuer (or group) since the date in the current period on which control was acquired	N/A
16.3	Date from which profit (loss) in item 16.2 has been calculated	N/A
16.4	Profit (loss) after tax of the issuer (or group) for the whole of the previous corresponding period	N/A

 

Loss of control of entities having material effect
(See note 8)

17.1

Name of issuer (or group)

N/A

 

		$US'000
17.2	Consolidated profit (loss) after tax of the entity (or group) for the current period to the date of loss of control	-
17.3	Date from which the profit (loss) in item 17.2 has been calculated	-
17.4	Consolidated profit (loss) after tax of the entity (or group) while controlled during the whole of the previous corresponding period	-
17.5	Contribution to consolidated profit (loss) from sale of interest leading to loss of control	-

 

Material interests in entities which are not controlled entities

The economic entity has an interest (that is material to it) in the following entities.

		Percentage of ownership interest (ordinary securities, units etc) held at end of period or date of disposal		Contribution to profit (loss) (item 1.9)
18.1	Equity accounted associated entities	Current period	Previous corresponding period	Current period $U'000	Previous corresponding period $US'000
	-	-	-	Equity accounted
	-	-	-	-	-
	-	-	-	-	-
	-	-	-	-	-
18.2	Total	-	-	-	-
18.3	Other material interests			Non equity accounted (i.e. part of item 1.9)
	-	-	-	-	-
	-	-	-	-	-
18.4	Total	-	-	-	-

 

Reports for industry and geographical segments
Information on the industry and geographical segments of the entity must be reported for the current period in accordance with AASB 114: Segment Reporting.  Because of the different structures employed by entities, a pro forma is not provided.  Segment information should be completed separately and attached to this statement.  However, the following is the personation adopted in the Appendices to AASB 114 and indicates which amount should agree with items included elsewhere in this statement.

		Current period - $US'000	Previous corresponding period - $US'000
	Segments
	Revenue:
19.1	External sales	11,042	22,701
19.2	Inter-segment sales	-	-
19.3	Total (consolidated total equal to item 1.1)	11,042	22,701
19.4	Segment result
19.5	Unallocated expenses	(15,123)	(33,157)
19.6	Operating profit (equal to item 1.5)	(4,081)	(10,456)
19.7	Interest expense	-	-
19.8	Interest income	-	-
19.9	Share of profits of associates	-	-
19.10	Income tax expense	633	-
19.11	Net profit (consolidated total equal to item 1.9)	(3,448)	(10,456)
	Other information	-	-
19.12	Segment assets	-	-
19.13	Investments in  equity method associates	-	-
19.14	Unallocated assets	-	-
19.15	Total assets (equal to item 3.18)	89,927	93,101
19.16	Segment liabilities	-	-
19.17	Unallocated liabilities	-	-
19.18	Total liabilities (equal to item 3.32)	9,522	8,978
19.19	Capital expenditure	-	-
19.20	Depreciation	-	-
19.21	Other non-cash expenses	-	-

 

NTA Backing

(see note 7)

20.1		Current period	Previous corresponding period
Net tangible asset backing per ordinary security		6.38%	10.06%

 

Non-cash financing and investing activities
Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows are as follows.  If an amount is quantified, show comparative amount.

21.1

N/A

 

International Financial Reporting Standards

Under paragraph 39 of AASB 1:  First -time Adoption of Australian Equivalents to International Financial Reporting Standards, an entity's first Australian-equivalents-to-IFRS's financial report shall include reconciliations of its equity and profit or loss under previous GAAP to its equity and profit or loss under Australian equivalents to IFRS's. See IG63 in the appendix to AASB 1 for guidance.

22.1

N/A

 

 

Under paragraph 4.2 of AASB 1047: Disclosing the Impacts of Adopting Australian Equivalents to International Financial Reporting Standards, an entity must disclose any known or reliably estimable information about the impacts on the financial report had it been prepared using the Australian equivalents to IFRSs or if the aforementioned impacts are not known or reliably estimable, a statement to that effect.

 

22.2

N/A

Comments by directors

Comments on the following matters are required by the Exchange or, in relation to the half yearly statement, by AASB 134: Interim Financial Reporting.  The comments do not take the place of the directors' report and statement (as required by the Corporations Act) but may be incorporated into the directors' report and statement.  For both half yearly and preliminary final statements, if there are no comments in a section, state NIL.  If there is insufficient space in comment, attach notes to this statement.

Basis of accounts preparation

If this statement is a half yearly statement, it is a general purpose financial report prepared in accordance with the listing rules and AASB 134: Interim Financial Reporting.  It should be read in conjunction with the last annual report and any announcements to the market made by the issuer during the period.   This report does not include all notes of the type normally included in an annual financial report [Delete if inapplicable.]

A description of each event since the end of the current period which has had a material effect and is not related to matters already reported, with financial effect quantified (if possible). In a half yearly report, provide explanatory comments about any seasonal or irregular factors affecting operations (as per paragraphs 16(b), 16(b) and Aus 16.1  of AASB 134: Interim Financial Reporting)

N/A

 

Any other factors which have affected the results in the period, or which are likely to affect results in the future, including those where the effect could not be quantified.

N/A

Franking credits available and prospects for paying fully or partly franked dividends for at least the next year

N/A

Changes in accounting policies, estimation methods and measurement bases since the last annual report are disclosed as follows.

(Disclose changes in the half yearly statement in accordance with paragraph16(a) of AASB 134: Interim Financial Reporting.  Disclose changes in the preliminary final statement in accordance with paragraphs 28-29 of 108: Accounting Policies, Changes in Accounting Estimates and Errors.)

N/A

An issuer shall explain how the transition from previous GAAP to Australian equivalents to IFRS' affected its reported financial position, financial performance and cash flows.  (as per paragraph 38 of AASB 1: First-time Adoption of Australian Equivalents to International Financial Reporting Standards)

N/A

Revisions in estimates of amounts reported in previous periods.  For half yearly reports the nature and amount of revisions in estimates of amounts reported in previous annual reports if those revisions have a material effect in this half year (as per paragraph 16(d) of AASB 134: Interim Financial Reporting)

N/A

Changes in contingent liabilities or assets.  For half yearly reports, changes in contingent liabilities and contingent assts since the last annual report (as per paragraph 16(j) of AASB 134: Interim Financial Reporting)

N/A

The nature and amount of items affecting assets, liabilities, equity, profit or loss, or cash flows that are unusual because of their nature, size or incidence (as per paragraph 16(c) of AASB 134: Interim Financial Reporting)

N/A

Effect of changes in the composition of the entity during the interim period, including business combinations, acquisition or disposal of subsidiaries and long-term investments, restructurings and discontinued operations (as per paragraph 16(i) of AASB 134: Interim Financial Reporting)

N/A

Annual meeting

(Preliminary final statement only)

The annual meeting will be held as follows:

Place	To be confirmed
Date	To be confirmed
Time	To be confirmed
Approximate date the annual report will be available	31 March 2025

Compliance statement

1.         This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to the Exchange (see note 13).

Identify other standards used

2.         This statement, and the financial statements under the Corporations Act (if separate), use the same accounting policies.

3.         This statement does/does not* (delete one) give a true and fair view of the matters disclosed (see note 2).

4.         This statement is based on financial statements to which one of the following applies:

	The financial statements have been audited.		The financial statements have been subject to review by a registered auditor (or overseas equivalent).
ü	The financial statements are in the process of being audited or subject to review.		The financial statements have not yet been audited or reviewed.

 

5.         If the accounts have been or are being audited or subject to review and the audit report is not attached, details of any qualifications are attached/will follow immediately they are available* (delete one).  (Half yearly statement only - the audit report must be attached to this statement if the statement is to satisfy the requirements of the Corporations Act.)

6.         The issuer has/does not have* (delete one) a formally constituted audit committee.

Sign here:    .......................................................   Date:14 March 2025
          (Director)

Print name:  Oliver B.Hasler

 

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