For personal use only
ABN 61 115 768 986
FINANCIAL REPORT FOR THE HALF YEAR ENDED
31 DECEMBER 2021
DISCOVEX RESOURCES LIMITED
AND CONTROLLED ENTITIES
ABN 61 115 768 986
only | ||
CONTENTS | ||
AUDITOR'S INDEPENDENCE DECLARATION..................................................................................................... | 18 | |
use | ||
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME .......................... | 19 | |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION .................................................................................. | 20 | |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ................................................................................... | 21 | |
CONSOLIDATED STATEMENT OF CASH FLOWS ............................................................................................... | 22 | |
personalFor | ||
CONDENSED NOTES TO AND FORMING PART OF THE ACCOUNTS ................................................................. | 23 | |
DIRECTORS' DECLARATION.............................................................................................................................. | 31 | |
INDEPENDENT AUDITOR'S REVIEW REPORT ................................................................................................... | 32 |
2
DISCOVEX RESOURCES LIMITED
AND CONTROLLED ENTITIES
ABN 61 115 768 986
CORPORATE DIRECTORY
onlyDIRECTORS
Heath Hellewell (Non-executive Chairman) Toby Wellman (Managing Director)
David Morgan (Non-executive Director)
Kim Massey (Non-executive Director)
useREGISTERED OFFICE Unit 1, 72 Kings Park Road West Perth, WA 6005 Telephone: (08) 9380 9440
SOLICITORS
Steinepreis Paganin
16 Milligan Street personalPerth, WA 6000
AUDITORS
PKF Perth
Level 4, 35 Havelock Street
West Perth, WA 6005
SHARE REGISTRY
Automic Pty Ltd
Level 5, 191 St Georges Terrace
Perth, WA 6000
Telephone: (02) 9698 5414
Email: hello@automicgroup.com.au
STOCK EXCHANGE LISTING
Australian Securities Exchange
Home Exchange: Perth, Western Australia
ForCode: DCX
BANK
Westpac Banking Corporation
130 Rokeby Road
Subiaco, WA 6008
3
DISCOVEX RESOURCES LIMITED
AND CONTROLLED ENTITIES
ABN 61 115 768 986
DIRECTORS' REPORT
Your directors submit the financial accounts of DiscovEx Resources Limited and controlled entities (the Group) for onlythe half year ended 31 December 2021.
DIRECTORS
The following persons were directors of DiscovEx Resources Limited (the Company) during the whole of the half year and up to the date of this report unless otherwise stated:
Mr Heath Hellewell
Mr Toby Wellman useMr David Morgan
Mr Kim Massey
PRINCIPAL ACTIVITIES
The principal activity of the Group is mineral exploration and evaluation.
OPERATING RESULTS
The net loss of the Group for the financial period after provision for income tax was $268,708 (2020: $337,179).
personalDIVIDENDS PAID OR RECOMMENDED
No dividend has been paid or declared during the half year and up to the date of this report.
REVIEW OF OPERATIONS
Overview
During the reporting period, the Company continued its greenfield exploration strategy with the bulk of activities centred on the Sylvania Project near Newman in WA. Activities included broad scale (400 x 200m) soil sampling and infill soil sampling (100 x 100m), which defined several high priority gold targets across the Project.
Together with the regional soil sampling programs at Sylvania, exploration was progressed at the Edjudina Gold Project in the Laverton District of WA. Air core drilling at Octavia was completed together with soil sampling at Hornet East and Jaguar.
At the Newington Gold Project north of Southern Cross in WA, a program of auger drilling was completed which confirmed the continuation of both the Newfield Central and Dawsons structural trends.
ForIn August 2021 the Company divested the Monument Gold Project in WA to SI6 Metals Limited (ASX:SI6).
4
DISCOVEX RESOURCES LIMITED
AND CONTROLLED ENTITIES
ABN 61 115 768 986
REVIEW OF OPERATIONS (Continued)
onlyuse personal Figure 1: Project Locations within Western Australia
ForExploration and Evaluation
Sylvania Gold and Base Metal Projects - Newman, WA
The Sylvania and Billinooka Projects (collectively known as Sylvania) are a compilation of twelve granted exploration licences and six exploration licence applications (which includes 3 tenements subject to a 90/10 JV) that cover a total of 2,294km2 located in the Pilbara Region of Western Australia and are centred nearby the giant Iron Ore hub of Newman. Importantly, the Sylvania Project's proximity to Newman and having both a major bitumen highway and gas pipeline adjacent to and within the tenure, provide excellent baseline infrastructure options for future project development.
In addition, the Sylvania Project is situated immediately to the west (approximately 60km) of one of Western Australia's newest, large-scale gold mine developments operated by Capricorn Metals Ltd at Karlawinda. The Karlawinda Project contains a Mineral Resource estimate of 2.15Moz @ 0.8 g/t Au1 (67.2Mt@0.8g/t Au for 1.722koz - Indicated and 19.5Mt@0.7g/t Au for 422koz - Inferred) and poured its first gold in 2021.
1. ASX:CMM - Annual Report 2021 (29th September, 2021).
5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Discovex Resources Limited published this content on 04 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 February 2022 08:35:09 UTC.