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Wiluna Mining Corporation Ltd (ASX:WMX) Half Year Financial Report - Explanation of Results
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 Wiluna Mining Corporation (ASX:WMX) (FRA:NZ3) (OTCMKTS:WMXCF) reports its financial results for the half-year ended 31 December 2020.
EXPLANATION OF HALF-YEAR INFORMATION
- There was significant investment of $30m into Mine Development, Resource/Reserve definition/drilling activities, and plant and equipment. These major investing activities will sustain and create substantial value over the next 6-12 months as the Company transitions to its three-year development plan to produce 250kozpa.
- Ongoing investing activities relating to the current free-milling operations will be minimal and the Company expects operating margins and net operating cash flows to increase. Future transitional cash flows generated from the current free-milling operations will be able to be applied against future debt repayments as well as partially fund the three-year development plan related activities.
- Owing to a combination of operating performance and proceeds from equity transactions, the Company continued to strengthen the balance sheet, having improved its working capital position by A$15m since 30 June 20201.
- Net profit for the half-year ended 31 December 2020 of $11m. Gross profit and cash flows from operations of A$9m and A$1m respectively, was underpinned by gold production of 26,758oz at an All in Sustaining Cost ('AISC') of A$1,839/oz.
A review of the Company's operations is provided in the Directors' Report in the Half-Year Financial Report.
To view the half year financial report, please visit:
https://media.abnnewswire.net/media/en/docs/ASX-WMX-6A1022118.pdf
Milan Jerkovic
Executive Chair
+61 8 9322 6418
Jim Malone
General Manager
Investor Relations
+61 419 537 714
Dannika Warburton
Media & Communications
+61 401 094 261
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