Xanadu Mines : Third Quarter 2021 Financial Statements and MD&A - TSX

ASX/TSX ANNOUNCEMENT

By electronic lodgement

Third Quarter 2021 Financial Statements and MD&A

For personal use only

15 November 2021

ASX Markets Announcement Office

Exchange Centre

20 Bridge Street

Sydney NSW 2000

BY ELECTRONIC LODGEMENT

Third Quarter 2021 Financial Statements and Management's Discussion & Analysis

Please find attached for release to the market, Xanadu Mining Ltd's Third Quarter 2021 Financial Statements and Management's Discussion & Analysis, prepared in accordance with National Instrument (NI) 51-102Continuous Disclosure Obligations and NI 51-102F1 Management's Discussion and Analysis, issued by the Canadian Securities Administrators, for lodgement on the Canadian System for Electronic Document Analysis and Retrieval (SEDAR).

	-ENDS-
For further information, please contact:
Andrew Stewart	Spencer Cole
Chief Executive Officer	Chief Financial Officer
M: [phone]	M: [phone]
E:[e-mail]	E:[e-mail]
W:www.xanadumines.com

About Xanadu Mines Ltd:

Xanadu is an ASX and TSX listed Exploration company operating in Mongolia. We give investors exposure to globally significant, large scale copper-gold discoveries and low-cost inventory growth. Xanadu maintains a portfolio of exploration projects and remains one of the few junior explorers on the ASX or TSX who control a globally significant copper-gold deposit in our flagship Kharmagtai project. For information on Xanadu visit: www.xanadumines.com.

This Announcement was authorised for release by Xanadu's Board of Directors.

AUSTRALIA	MONGOLIA	Xanadu Mines Ltd ACN 114 249 026
c/o Company Matters Pty Limited	Suite 23, Building 9B
Level 12, 680 George Street	Olympic St, Sukhbaatar District	www.xanadumines.com
Sydney NSW 2000	Ulaanbaatar, Mongolia
T: [phone]	T: [phone]

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onlyXanadu Mines Ltd

useThird Quarter 2021 Report

Condensed Interim Consolidated Financial Statements

personalAs at and for the nine months ended September 30, 2021

Unaudited

(stated in Australian dollars, unless otherwise indicated)

INDEX

ForUnaudited Condensed Interim Consolidated Financial Statements

• Condensed Interim Consolidated Statements of Profit or Loss and Other Comprehensive Income
• Condensed Interim Consolidated Statements of Financial Position
• Condensed Interim Consolidated Statements of Changes in Equity
• Condensed Interim Consolidated Statements of Cash Flows
• Notes to the Condensed Interim Consolidated Financial Statements

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Interim Financial Statements

NOTICE OF NO AUDITOR REVIEW OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

onlyUnder National Instrument 51-102, Part 4, subsection 4.3(3) (a), if an auditor has not performed a review of the interim financial statements, they must be accompanied by a notice indicating that the interim financial statements have not been reviewed by an auditor.

The accompanying unaudited condensed interim consolidated financial statements of the Company have been prepared by and are the responsibility of the Company's Management.

The Company's independent auditor has not performed a review of these condensed interim consolidated financial statements in accordance with standards established by CPA Canada for a review of interim financial

usestatements by an entity's auditor. personalFor

Interim Financial Statements - Third Quarter 2021

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Interim Financial Statements

CONDENSED INTERIM CONSOLIDATED STATEMENTS PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (Unaudited - stated in thousands of Australian dollars, except share and per share amounts)

onlyRevenue Other income

Expenses useOth r expenses

D preciation and amortisation expense

Finance costs

Lo before income tax expense

Income tax expense

Loss after income tax expense for the period Other comprehensive income

Items that may be reclassified subsequently to profit or loss

	3 months ended		9 months ended
	Sep 30, 2021	Sep 30, 2020		Sep 30, 2021	Sep 30, 2020
Note	A$'000	A$'000		A$'000	A$'000
5	-	38	-	89
6	(929)	(937)	(2,723)	(2,391)
	(11)	(12)	(38)	(40)
	(10)	(7)	(25)	(17)
	(950)	(918)	(2,786)	(2,359)
	-	-	-	-
	(950)	(918)	(2,786)	(2,359)

personal

Foreign currency translation

Other comprehensive income for the period, net of tax

Total comprehensive income for the period

P ofit/(loss) for the period is attributable to: Non-controllinginterest

Owners of Xanadu Mines Ltd

ForTotal comprehensive income for the period is attributable to:

2,240 (2,195)

2,240 (2,195)

1,290 (3,113)

148(276)

(1,098)(642)

1. (918)

3,215 (2,855)

3,215 (2,855)

429 (5,214)

199(358)

(2,985) (2,001)

(2,786) (2,359)

N n-controlling interest Owners of Xanadu Mines Ltd

Basic earnings per share

	297	(436)	420	(560)
	993	(2,677)		9	(4,654)
	1,290	(3,113)	429	(5,214)
	Cents	Cents		Cents	Cents
12	(0.09)	(0.08)	(0.25)	(0.24)

Interim Financial Statements - Third Quarter 2021

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Interim Financial Statements

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited - stated in thousands of Australian dollars)

onlyASSETS Current Assets

Cash and cash equivalents

Other receivables

Prepayments and other assets

useTotal current assets

Non-current Assets

Property, plant and equipment Right-of-use-assets

Deferred exploration and evaluation expenditure Total non-current assets

		Sep 30, 2021		Dec 31, 2020
		A$'000		A$'000
Note
	7,048	7,687
	88	145
	184	201
		7,320		8,033
	561	128
	320	238
7	53,163	43,317
		54,044		43,683

Total Assets		61,364	51,716
personal
LIABILITIES
Current Liabilities
Trade and other payables		445	547
Co tract liabilities		-	306
Employee benefits		8	5
Lease liabilities		45	64
T tal current liabilities			498			922
Non-current Liabilities
Lea e liabilities		200	88
Total non-current liabilities			200			88
Total Liabilities			698		1,010
Net Assets		60,666	50,706
EQUITY
For	8	145,536	136,005
Issued capital
Reserves		(3,780)	(6,774)
Accumulated losses		(85,182)	(82,197)
Equity attributable to the owners of Xanadu Mines Ltd			56,574			47,034
Non-controlling interest			4,092		3,672
Total Equity		60,666		50,706

Interim Financial Statements - Third Quarter 2021

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