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Red 5 Reports Full Year Financial Results for 12 Months to 30 June 2021

01 Sep 2021  |  08:21:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Full year financial results

Red 5 announced its financial results for the year ended 30 June 2021 (FY 2021). FY 2021 was a period of growth and development for Red 5, with the development of the KOTH Gold Project approved. Gold sales of 75,907oz for the year underpinned sales revenue of $173.3m, resulting in a gross profit from operations of $2.3m and a net loss from continuing operations after income tax of $9.5m. The Company has available tax losses of $27.0m at 30 June 2021. At 30 June 2021, the Company had total cash and cash equivalents of $21.4m, and an additional $28.5m in restricted cash.

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