Mineros S A : Q2 2023 Mineros Consolidated Interim Financial Statements

MINEROS S.A.

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

As at June 30, 2023 and December 31, 2022 and for the three and six-months ended June 30, 2023, and 2022.

(Thousands of United States Dollars)

MINEROS S.A.

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

General Notes

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF PROFIT OR LOSS	3
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME	4
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION	5
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION	6
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY	7
CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS	8
NOTE 1. CORPORATE INFORMATION	9
NOTE 2. STATEMENT OF COMPLIANCE	10
NOTE 3. BASIS OF PRESENTATION	10
NOTE 4. RECENT ACCOUNTING PRONOUNCEMENTS	11
NOTE 5. FINANCIAL INSTRUMENTS	11
NOTE 6. SEGMENTS	15
NOTE 7. REVENUE	18
NOTE 8. COST OF SALES	18
NOTE 9. ADMINISTRATION EXPENSES	19
NOTE 10. OTHER INCOME	19
NOTE 11. OTHER EXPENSES	20
NOTE 12. FINANCE INCOME	19
NOTE 13. FINANCE EXPENSES	20
NOTE 14. EARNINGS PER SHARE	20
NOTE 15. CASH AND CASH EQUIVALENTS	22
NOTE 16. TRADE AND OTHER RECEIVABLES	23
NOTE 17. INVENTORIES	23
NOTE 18. TAXES	24
NOTE 19. INTANGIBLE ASSETS	26
NOTE 20. EXPLORATION AND EVALUATION	26
NOTE 21. PROPERTY PLANT AND EQUIPMENT, NET	28
NOTE 22. LOANS AND OTHER BORROWINGS	28
NOTE 23. TRADE AND OTHERS PAYABLES	29
NOTE 24. PROVISIONS	30
NOTE 25. RESERVES	31
NOTE 26. OTHER ACCUMULATED COMPREHENSIVE INCOME	31
NOTE 27. RETAINED EARNINGS	31
NOTE 28. TRANSACTIONS AND BALANCES WITH RELATED PARTIES	31
NOTE 29. COMMITMENTS	32
NOTE 30. EVENTS AFTER REPORTING PERIOD	33
NOTE 31. APPROVAL OF FINANCIAL STATEMENTS	33

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MINEROS S.A.

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF PROFIT OR LOSS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2023 AND 2022 (Unaudited)

THOUSANDS OF UNITED STATES DOLLARS, EXCEPT EARNINGS PER SHARE AMOUNTS

		Three Months Ended June 30,		Six months ended June 30,
	Note	2023			2022		2023			2022
Revenue	7	138,826			137,286	256,916			261,936
Cost of sales	8	(99,801)			(99,487)	(185,621)			(191,492)
GROSS PROFIT		39,025			37,799		71,295			70,444
Administrative expenses	9	(4,622)			(5,976)	(9,298)			(11,413)
Other income	10	(352)			(46)	4,847			702
Other expenses	11	(6,849)			(1,949)	(8,989)			(4,153)
Exploration expenses		(4,920)			(3,611)	(7,279)			(6,296)
Finance income	12	2,544			244	3,037			612
Finance expense	13	(4,174)			(2,745)	(7,615)			(5,063)
Foreign exchange differences		(735)			3,387	(2,093)			683
PROFIT FOR THE PERIOD BEFORE TAX		19,917			27,103		43,905			45,516
Current tax	18	(11,544)			(11,042)	(23,107)			(20,289)
Deferred tax	18	4,179			(4,662)	7,158			(3,356)
NET PROFIT FOR THE PERIOD		12,552			11,399	27,956			21,871
Attributable to:
Owners of the Group		12,552			11,399	27,956			21,871
Non-controlling interests		-	-		-	-
NET PROFIT FOR THE PERIOD		12,552			11,399		27,956			21,871
Basic and diluted earnings per share	14	0.04			0.04	0.09			0.07
(Signed)" Andrés Restrepo Isaza"		(Signed)"Miguel Ángel Hinestroza Hoyos"
ANDRÉS RESTREPO ISAZA		MIGUEL ÁNGEL HINESTROZA HOYOS
PRESIDENT AND CEO		ACCOUNTANT
		P.C 74290-T

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MINEROS S.A.

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2023 AND 2022 (Unaudited)

THOUSANDS OF UNITED STATES DOLLARS, EXCEPT EARNINGS PER SHARE AMOUNTS

		Three Months Ended June 30,		Six months ended June 30,
		2023		2022		2023		2022
NET PROFIT FOR THE PERIOD	12,552	11,399	27,956	21,871
Other comprehensive income, net of taxes
Items that will not be reclassified subsequently to
profit or loss:
Revaluation of property, plant and equipment	34	34	68	67
		34	34	68	67
Items that may be reclassified subsequently to
profit or loss:
Cash flows hedges	2,938	3,076	1,370	1,056
Foreign exchange differences on translation of foreign	615	(740)	848	(262)
operations
		3,553		2,336		2,218		794
Other comprehensive income, net of taxes		3,587		2,370		2,286		861
TOTAL COMPREHENSIVE INCOME FOR THE	16,139		13,769		30,242		22,732
PERIOD
Total comprehensive income attributable to:
Owners of the Group	16,139	13,769	30,242	22,732
Non-controlling interests	-		-		-		-
		16,139		13,769		30,242		22,732

(Signed)" Andrés Restrepo Isaza"	(Signed)"Miguel Ángel Hinestroza Hoyos"
ANDRÉS RESTREPO ISAZA	MIGUEL ÁNGEL HINESTROZA HOYOS
PRESIDENT AND CEO	ACCOUNTANT
	P.C 74290-T

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MINEROS S.A.

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

AS AT JUNE 30, 2023, AND DECEMBER 31, 2022 (Unaudited)

THOUSANDS OF UNITED STATES DOLLARS

	Notes	30/06/2023			31/12/2022
ASSETS
Current assets
Cash and cash equivalents	15	47,415			49,791
Trade and other receivables, net	16	34,529			18,189
Inventories	17	85,259			75,166
Derivative financial instruments	5	666			1,529
Investments in financial assets		1,427			116
Income tax assets	18	25,965			5,666
Other tax assets	18	27,138			25,998
Other assets		14,135			13,296
Total Current assets		236,534			189,751
Non-current assets
Trade and other receivables	16	2,250			2,122
Inventories	17	28,501			27,006
Investments in financial assets		10,572			10,603
Other tax assets	18	358			343
Deferred tax assets	18	1,619			1,616
Investment property		2,024			2,025
Exploration and evaluation projects, net	20	55,051			62,244
Intangible assets, net	19	36,201			40,066
Investment in associates		5,403			5,285
Property, plant and equipment, net	21	226,841			228,482
Total Non-current assets		368,820			379,792
TOTAL ASSETS		605,354			569,543
(Signed)" Andrés Restrepo Isaza"	(Signed)"Miguel Ángel Hinestroza Hoyos"
ANDRÉS RESTREPO ISAZA	MIGUEL ÁNGEL HINESTROZA HOYOS
PRESIDENT AND CEO	ACCOUNTANT
	P.C 74290-T

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