Adriatic Metals PLC Report on Payments to Governments (3098C)
June 18 2021 - 1:00AM
UK Regulatory
TIDMADT1
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 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 - - - - - 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
info@adriaticmetals.com
** ENDS **
For further information please visit www.adriaticmetals.com ;
@AdriaticMetals on Twitter; or contact:
Adriatic Metals PLC
Paul Cronin / Thomas Horton Tel: +44 (0) 7866
913207
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
Tavistock Communications Limited
Charles Vivian Tel: +44 (0) 7977
297 903
The Capital Network
Julia Maguire / Lelde Smits Tel: +61 2 8999 3699
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 NPV(8) , 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
95km(2) 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.
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END
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