(Boursier.com) — According to French accounting standards, Euro Resources recorded a net profit of €10.1 million (€0.162 per share) for the financial year ended December 31, 2021, compared to €10.8 million (€0.173 per share) for the financial year ended December 31, 2021 2020.
Under IFRS, EURO recorded a net profit of 7.6 ME (0.122 E per share) for the year ended 31 December 2021 (14.0 ME; 0.223 E per share in 2020).
According to French accounting standards, EURO recognized revenue of 12.8 ME in 2021, down from the 19.2 ME recognized in 2020.
Under IFRS, EURO recorded operating income of 12.6 ME in 2021, down from 19.2 ME recorded in 2020.
Outlook
In 2021, production related to Rosebel royalties amounted to 104,319 ounces and is expected to be between 113,000 and 139,000 ounces in 2022. 15.2M
(US$14.7 million and $18.2 million) in 2022.
These pre-tax income are based on a gold price established at 1,700 dollars per ounce and on an exchange rate of 1.20$ for 1 euro.
Commercial production from the Bomboré project is expected to start in the third quarter of 2022.
EURO’s cash flow is expected to be affected primarily by the payment of income taxes.
Point of health situation
The company continues to closely monitor the evolution of the pandemic and take the necessary steps to manage its effects on all aspects of its business. At Rosebel, the COVID-19 situation began to stabilize and improved during Q4, but the new Omicron variant remains a concern as new cases recorded in January 2022 were the highest since the start of the pandemic.