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Preliminary Final Report

RNS Number : 7146A

PYX Resources Limited

14 March 2025

 

FORM: Preliminary final report

Name of issuer

PYX Resources Limited
 
ACN or ARBNHalf yearly (tick)Preliminary final (tick)Financial year ended ('Current period')
ABN 30 073 099 171ü31 December 2024
    For announcement to the market Extracts from this statement for announcement to the market (see note 1).
$US,000
Revenue(item 1.1)up/down(51)%to11,042
Profit (loss) for the period(item 1.9)up/down67%to(3,448)
Profit (loss) for the period attributable to members of the parent(item 1.11)up/down88%to(1,246)
Dividends
Franking rate applicable:
Current periodPrevious corresponding period
Final dividend(preliminary final report only)(item 10.13-10.14)
Amount per security
Franked amount per security
Interim dividend(Half yearly report only)(item 10.11 -10.12)
Amount per security
Franked amount per security
--
--
Short details of any bonus or cash issue or other item(s) of importance not previously released to the market:
    Consolidated income statement (The figures are not equity accounted) (see note 3) (as per paragraphs 81-85 and 88-94 of AASB 101: Presentation of Financial Statements)
Current period - $US'000Previous corresponding period - $US'000
1.1Revenues(item 7.1)11,04222,672
1.2Other income-29
1.3Expenses, excluding finance costs(item 7.3)(15,123)(33,157)
1.4Finance costs--
1.5Share of net profits (losses) of associates and joint ventures(item 15.7)--
1.6Profit (loss) before income tax(4,081)(10,456)
1.7Income tax expense(see note 4)633-
1.8Profit (loss) from continuing operations--
1.9Profit (loss) from discontinued operations(item 13.3)
1.10Profit (loss) for the period(3,448)(10,456)
1.11Profit (loss) attributable to minority interests(2,202)132
Profit (loss) attributable to members of the parent(1,246)(10,588)
1.12
1.13Basic earnings per security (item 9.1)(0.75)(2.32)
1.14Diluted earnings per security(item 9.1)(0.75)(2.32)
1.15Dividends per security( item 9.1)--
        Comparison of half-year profits   (Preliminary final statement only)
Current period - $US'000Previous corresponding period - $US'000
2.1Consolidated profit (loss) after tax attributable to members reported for the 1st half year (item 1.11in the half yearly statement)(717)(9,296)
2.2Consolidated profit (loss) after tax attributable to members for the 2nd half year(1,246)(10,588)
  Consolidated balance sheet (See note 5) (as per paragraphs 68-69 of AASB 101: Financial Statement Presentation)
Current assetsCurrent period -$US'000Previous corresponding period - $US'000
3.1Cash and cash equivalents5,0087,829
3.2Trade and other receivables2,0991,558
3.3Inventories542,309
3.4Other current assets (provide details if material)1,0351,338
3.5Total current assets8,19613,034
Non-current assets
3.6Available for sale investments--
3.7Other financial assets--
3.8Investments in associates--
3.9Deferred tax assets1,127527
3.10Exploration and evaluation expenditure capitalised(see para. 71 of AASB 1022 - new standard not yet finalised)--
3.11Development properties(mining entities)--
3.12Property, plant and equipment (net)6,9396,042
3.13Investment properties--
3.14Goodwill88
3.15Other intangible assets73,64873,488
3.16Other (provide details if material)92
3.17Total non-current assets81,73180,067
3.18Total assets89,92793,101
Current liabilities
3.19Trade and other payables1,2051,370
3.20Short term borrowings19-
3.21Current tax payable--
3.22Short term provisions--
3.23Current portion of long term borrowings--
3.24Other current liabilities (provide details if material)8,2987,608
9,5228,978
3.25Liabilities directly associated with non-current assets classified as held for sale(para 38 of AASB 5)--
3.26Total current liabilities9,5228,978
Non-current liabilities9,5228,978
Current period - $US'000Previous corresponding period - $US'000
3.27Long-term borrowings--
3.28Deferred tax liabilities--
3.29Long term provisions--
3.30Other (provide details if material)--
3.31Total non-current liabilities--
3.32Total liabilities9,5228,978
3.33Net assets80,40584,123
Equity
3.34Share capital105,787105,592
3.35Other reserves599672
3.36Retained earnings(22,004)(20,758)
-
Amounts recognised directly in equity relating to non-current assets classified as held for sale-
3.37Parent interest--
3.38Minority interest(3,977)(1,383)
3.39Total equity80,40584,123
  Consolidated statement of changes in equity (as per paragraphs 96-97 of AASB 101: Presentation of Financial Statements)
Current period - US$'000Previous corresponding period - US$'000
Revenues recognised directly in equity:--
Expenses recognised directly in equity:--
4.1Net income recognised directly in equity--
4.2Profit for the period(3,448)(10,456)
4.3Total recognised income and expense for the period
Attributable to:
4.4Members of the parent(1,246)(10,588)
4.5Minority interest(2,202)132
Effect of changes in accounting policy(as perAASB 108: Accounting Policies, Changes in Accounting Estimates and Errors):
4.6Members of the parent entity--
4.7Minority interest--
  Consolidated statement of cash flows (See note 6) (as per AASB 107: Cash Flow Statements)
Current period -$US'000Previous corresponding period - $US'000
Cash flows related to operating activities
5.1Receipts from customers10,77522,466
5.2Payments to suppliers and employees(11,849)(24,165)
5.3Interest and other costs of finance paid(8)(56)
5.4Income taxes paid18(195)
5.5Other (provide details if material)-29
5.6Net cash used in operating activities(1,064)(1,921)
Cash flows related to investing activities
5.7Payments for purchases of property, plant and equipment(1,395)(2,524)
5.8Proceeds from sale of property, plant and equipment--
5.9Payment for purchases of equity investments--
5.10Proceeds from sale of equity investments--
5.11Loans to other entities--
5.12Loans repaid by other entities--
5.13Interest and other items of similar nature received--
5.14Dividends received--
5.15Other (provide details if material)--
5.16Net cash used in investing activities(1,395)(2,524)
Cash flows related to financing activities
5.17Proceeds from issues of securities (shares, options, etc.)--
5.18Proceeds from borrowings--
5.19Repayment of borrowings--
5.20Dividends paid--
5.21Other (provide details if material)(113)5,099
5.22Net cash used in financing activities(113)5,099
Net increase (decrease) in cash and cash equivalents(2,572)654
5.23Cash at beginning of period
(see Reconciliations of cash)
7,8297,221
5.24Exchange rate adjustments to item 5.23(249)(47)
5.25Cash at end of period
(see Reconciliation of cash)
5,0087,828
  Reconciliation of cash provided by operating activities to profit or loss (as per paragraph Aus20.1 of AASB 107: Cash Flow Statements)
Current period $US'000Previous corresponding period $US'000
6.1Profit(item 1.9)(3,448)(10,456)
Adjustments for:
6.2Depreciation346361
6.3Share-based payment87,617
6.4Exchange differences(129)90
6.5Fair value change of financial instrument8781,685
6.6Increase/decrease in trade and other receivables(542)(161)
6.7Increase/decrease in advances to suppliers402187
6.8Increase/decrease in inventories2,254(1,603)
6.9Increase/decrease in prepayments and deposits(60)44
6.10Increase/decrease in deferred tax assets(600)(3)
Increase/decrease in trade and other payables(134)505
6.10Increase/decrease in current tax liabilities(39)(187)
6.11Net cash from operating activities(item 5.6)(1,064)(1,921)
  Notes to the financial statements Details of revenues and expenses (see note 16) (Where items of income and expense are material, disclose nature and amount below in accordance with paragraphs 86-87 of AASB 101: Presentation of Financial Statements)
Current period - $US'000Previous corresponding period - $US'000
7.1Revenue
Total Revenue
11,042
11,042
22,672
22,672
7.2Other income-29
7.3Expenses
Cost of sales
Selling and distribution expenses
Corporate and administrative expenses
Other operating expenses
Total Expenses
(8,623)
(1,495)
(2,305)
(2,700)
(15,123)
(19,895)
(1,223)
(2,588)
(9,451)
(33,157)
Profit (loss) before tax(4,081)(10,456)
     
RatiosCurrent periodPrevious corresponding period
Profit before tax / revenue
8.1Consolidated profit (loss) before tax(item 1.5)as a percentage of revenue(item 1.1)(37%)(46%)
Profit after tax / equity interests
8.2Consolidated profit (loss) after tax attributable to members(item 1.11)as a percentage of equity (similarly attributable) at the end of the period(item 3.37)--
  Earnings per Security
9.1Provide details of basic and fully diluted EPS in accordance with paragraph 70 and Aus 70.1 of AASB 133: Earnings per Share below:
Basic profit per share
=(US$3,448,323) / 460,497,688 Shares
=(US$0.75) cents
Diluted profit per share
=(US$3,448,323) / 460,497,688 Shares
=(US$0.75) cents
  Dividends
10.1Date the dividend is payableN/A
10.2Record date to determine entitlements to the dividend (i.e. on the basis of registrable transfers received up to 5.00 pm if paper based, or by 'End of Day' if a proper ASTC/CHESS transfer)N/A
10.3If it is a final dividend, has it been declared?
(Preliminary final report only)
  10.4       The dividend or distribution plans shown below are in operation.
Currently the Company has no plan for dividend.
   
The last date(s) for receipt of election notices to the
dividend or distribution plans
N/A
    10.5       Any other disclosures in relation to dividends or distributions
N/A
.
Dividends paid or provided for on all securities (as per paragraph Aus126.4 AASB 101: Presentation of Financial Statements)
Current period -
$US'000
Previous corresponding period - $US'000Franking rate applicable
Dividends paid or provided for during the reporting period
10.6
10.7
Current year interim
Franked dividends
-
-
-
-
-
-
10.8
10.9
Previous year final
Franked dividends
-
-
-
-
-
-
Dividends proposed and not recognised as a liability
10.10Franked dividends---
          Dividends per security (as per paragraph Aus126.4 of AASB 101: Presentation of Financial Statements)
Current yearPrevious yearFranking rate applicable
Dividends paid or provided for during the reporting period
10.11
10.12
Current year interim
Franked dividends - cents per share
-
-
-
-
-
-
10.13
10.14
Previous year final
Franked dividends - cents per share
-
-
-
-
-
-
Dividends proposed and not recognised as a liability
10.15Franked dividends - cents per share---
  Exploration and evaluation expenditure capitalised To be completed only be issuers with mining interests if amounts are material.  Include all expenditure incurred regardless of whether written off directly against profit
Current period $US'000Previous corresponding period $US'000
11.1Opening balance--
11.2Expenditure incurred during current period--
11.3Expenditure written off during current period--
11.4Acquisitions, disposals, revaluation increments, etc.--
11.5Expenditure transferred to Development Properties--
11.6Closing balance as shown in the consolidated balance sheet(item 3.10)--
  Development properties (To be completed only by issuers with mining interests if amounts are material)
Current period $US'000Previous corresponding period $US'000
12.1Opening balance--
12.2Expenditure incurred during current period--
12.3Expenditure transferred from exploration and evaluation--
12.4Expenditure written off during current period--
12.5Acquisitions, disposals, revaluation increments, etc.--
12.6Expenditure transferred to mine properties--
12.7Closing balance as shown in the consolidated balance sheet(item 3.11)--
Discontinued Operations (see note 18) (as per paragraph 33 of AASB 5: Non-current Assets Held for Sale and Discontinued Operations)
Current period - US$'000Previous corresponding period - US$'000
13.1Revenue--
13.2Expense--
13.3Profit (loss) from discontinued operations before income tax--
13.4Income tax expense(as per para 81 (h) of AASB 112)--
13.5Gain (loss) on sale/disposal of discontinued operations--
13.6Income tax expense(as per paragraph 81(h) of AASB 112)--
Movements in Equity (as per paragraph 97 of AASB 101: Financial Statement Presentation)
Number issuedNumber listedPaid-up value (cents)Current period - US$'000Previous corresponding period - US$'000
14.1Preference securities
(description)
-----
14.2Balance at start of period-----
14.3a) Increases through issues-----
14.4a) Decreases through returns of capital, buybacks etc.-----
14.5Balance at end of period-----
14.6Ordinary securities
(description)
14.7Balance at start of period458,817,161458,817,161-105,592102,227
14.8a) Increases through issues2,826,6932,826,693-3783,365
14.9b) Decreases through returns of capital, buybacks etc.---(183)-
14.10Balance at end of period461,643,854461,643,854-105,787105,592
14.11Convertible Debt Securities
(description & conversion factor)
-----
14.12Balance at start of period-----
14.13a) Increases through issues-----
14.14b) Decreases through maturity, converted.-----
14.15Balance at end of period-----
Number issuedNumber listedPaid-up value (cents)Current period - US$'000Previous corresponding period - US$'000
14.16Options
(description & conversion factor)
14.17Balance at start of period4,407,076--554554
14.18Issued during period-----
14.19Exercised during period-----
14.20Expired during period-----
14.21Balance at end of period4,407,076--554554
14.22Debentures
(description)
-----
14.23Balance at start of period-----
14.24a) Increases through issues-----
14.25b) Decreases through maturity, converted-----
14.26Balance at end of period-----
14.27Unsecured Notes
(description)
-----
14.28Balance at start of period-----
14.29a) Increases through issues-----
14.30b) Decreases through maturity, converted-----
14.31Balance at end of period-----
14.32Total Securities466,050,930461,643,854-106,341106,341
       
Current period - US$'000Previous corresponding period - US$'000
Reserves
14.33Balance at start of period6728,905
14.34Transfers to/from reserves--
14.35Total for the period(73)(8,233)
14.36Balance at end of period599672
14.37Total reserves599672
Retained earnings
14.38Balance at start of period(20,758)(26,027)
14.39Changes in accounting policy
14.40Share based payments cancelled-15,857
14.41Profit for the balance(1,246)(10,588)
14.42Total for the period
14.43Dividends
14.44Balance at end of period(22,004)(20,758)
  Details of aggregate share of profits (losses) of associates and joint venture entities (equity method) (as per paragraph Aus 37.1 of AASB 128: Investments in Associates and paragraph Aus 57.3 of AASB 131: Interests in Joint Ventures)
Name of associate or joint venture entityN/A
 
Reporting entities percentage holdingN/A
 
Current period - $US'000Previous corresponding period - $US'000
15.1Profit (loss) before income tax--
15.2Income tax--
15.3Profit (loss) after tax--
15.4Impairment losses--
15.5Reversals of impairment losses--
15.6Share of non-capital expenditure contracted for (excluding the supply of inventories)--
15.7Share of net profit (loss) of associates and joint venture entities--
  Control gained over entities having material effect (See note 8)
16.1Name of issuer (or group)N/A
 
$US'000
16.2Consolidated profit (loss) after tax of the issuer (or group) since the date in the current period on which control was acquiredN/A
16.3Date from which profit (loss) initem 16.2has been calculatedN/A
16.4Profit (loss) after tax of the issuer (or group) for the whole of the previous corresponding periodN/A
  Loss of control of entities having material effect (See note 8)
17.1Name of issuer (or group)N/A
 
$US'000
17.2Consolidated profit (loss) after tax of the entity (or group) for the current period to the date of loss of control-
17.3Date from which the profit (loss) initem 17.2has been calculated-
17.4Consolidated profit (loss) after tax of the entity (or group) while controlled during the whole of the previous corresponding period-
17.5Contribution to consolidated profit (loss) from sale of interest leading to loss of control-
  Material interests in entities which are not controlled entities The economic entity has an interest (that is material to it) in the following entities.
Percentage of ownership interest (ordinary securities, units etc) held at end of period or date of disposalContribution to profit (loss)(item 1.9)
18.1Equity accounted associated entitiesCurrent periodPrevious corresponding periodCurrent period $U'000Previous corresponding period $US'000
---Equity accounted
-----
-----
-----
18.2Total----
18.3Other material interestsNon equity accounted(i.e. part of item 1.9)
-----
-----
18.4Total----
  Reports for industry and geographical segments Information on the industry and geographical segments of the entity must be reported for the current period in accordance with AASB 114: Segment Reporting.  Because of the different structures employed by entities, a pro forma is not provided.  Segment information should be completed separately and attached to this statement.  However, the following is the personation adopted in the Appendices to AASB 114 and indicates which amount should agree with items included elsewhere in this statement.
Current period - $US'000Previous corresponding period - $US'000
Segments
Revenue:
19.1External sales11,04222,701
19.2Inter-segment sales--
19.3Total(consolidated total equal to item 1.1)11,04222,701
19.4Segment result
19.5Unallocated expenses(15,123)(33,157)
19.6Operating profit(equal to item 1.5)(4,081)(10,456)
19.7Interest expense--
19.8Interest income--
19.9Share of profits of associates--
19.10Income tax expense633-
19.11Net profit(consolidated total equal to item 1.9)(3,448)(10,456)
Other information--
19.12Segment assets--
19.13Investments in equity method associates--
19.14Unallocated assets--
19.15Total assets(equal to item 3.18)89,92793,101
19.16Segment liabilities--
19.17Unallocated liabilities--
19.18Total liabilities(equal to item 3.32)9,5228,978
19.19Capital expenditure--
19.20Depreciation--
19.21Other non-cash expenses--
  NTA Backing (see note 7)
20.1Current periodPrevious corresponding period
Net tangible asset backing per ordinary security6.38%10.06%
  Non-cash financing and investing activities Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows are as follows.  If an amount is quantified, show comparative amount.
21.1N/A
  International Financial Reporting Standards Under paragraph 39 of AASB 1:  First -time Adoption of Australian Equivalents to International Financial Reporting Standards, an entity's first Australian-equivalents-to-IFRS's financial report shall include reconciliations of its equity and profit or loss under previous GAAP to its equity and profit or loss under Australian equivalents to IFRS's. See IG63 in the appendix to AASB 1 for guidance.
22.1N/A
    Under paragraph 4.2 of AASB 1047: Disclosing the Impacts of Adopting Australian Equivalents to International Financial Reporting Standards, an entity must disclose any known or reliably estimable information about the impacts on the financial report had it been prepared using the Australian equivalents to IFRSs or if the aforementioned impacts are not known or reliably estimable, a statement to that effect.  
22.2N/A
Comments by directors Comments on the following matters are required by the Exchange or, in relation to the half yearly statement, by AASB 134: Interim Financial Reporting.  The comments do not take the place of the directors' report and statement (as required by the Corporations Act) but may be incorporated into the directors' report and statement.  For both half yearly and preliminary final statements, if there are no comments in a section, state NIL.  If there is insufficient space in comment, attach notes to this statement. Basis of accounts preparation If this statement is a half yearly statement, it is a general purpose financial report prepared in accordance with the listing rules and AASB 134: Interim Financial Reporting.  It should be read in conjunction with the last annual report and any announcements to the market made by the issuer during the period.   This report does not include all notes of the type normally included in an annual financial report [Delete if inapplicable.] A description of each event since the end of the current period which has had a material effect and is not related to matters already reported, with financial effect quantified (if possible). In a half yearly report, provide explanatory comments about any seasonal or irregular factors affecting operations (as per paragraphs 16(b), 16(b) and Aus 16.1  of AASB 134: Interim Financial Reporting)
N/A
  Any other factors which have affected the results in the period, or which are likely to affect results in the future, including those where the effect could not be quantified.
N/A
Franking credits available and prospects for paying fully or partly franked dividends for at least the next year
N/A
Changes in accounting policies, estimation methods and measurement bases since the last annual report are disclosed as follows. (Disclose changes in the half yearly statement in accordance with paragraph16(a) of AASB 134: Interim Financial Reporting.  Disclose changes in the preliminary final statement in accordance with paragraphs 28-29 of 108: Accounting Policies, Changes in Accounting Estimates and Errors.)
N/A
An issuer shall explain how the transition from previous GAAP to Australian equivalents to IFRS' affected its reported financial position, financial performance and cash flows. (as per paragraph 38 of AASB 1: First-time Adoption of Australian Equivalents to International Financial Reporting Standards)
N/A
Revisions in estimates of amounts reported in previous periods. For half yearly reports the nature and amount of revisions in estimates of amounts reported in previous annual reports if those revisions have a material effect in this half year(as per paragraph 16(d) of AASB 134: Interim Financial Reporting)
N/A
Changes in contingent liabilities or assets. For half yearly reports, changes in contingent liabilities and contingent assts since the last annual report(as per paragraph 16(j) of AASB 134: Interim Financial Reporting)
N/A
The nature and amount of items affecting assets, liabilities, equity, profit or loss, or cash flows that are unusual because of their nature, size or incidence (as per paragraph 16(c) of AASB 134: Interim Financial Reporting)
N/A
Effect of changes in the composition of the entity during the interim period, including business combinations, acquisition or disposal of subsidiaries and long-term investments, restructurings and discontinued operations (as per paragraph 16(i) of AASB 134: Interim Financial Reporting)
N/A
Annual meeting (Preliminary final statement only) The annual meeting will be held as follows:
PlaceTo be confirmed
DateTo be confirmed
TimeTo be confirmed
Approximate date the annual report will be available31 March 2025
Compliance statement 1.         This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to the Exchange (see note 13).
Identify other standards used
2.         This statement, and the financial statements under the Corporations Act (if separate), use the same accounting policies. 3.         This statement does/does not* (delete one) give a true and fair view of the matters disclosed (see note 2). 4.         This statement is based on financial statements to which one of the following applies:
The financial statements have been audited.The financial statements have been subject to review by a registered auditor (or overseas equivalent).
üThe financial statements are in the process of being audited or subject to review.The financial statements have not yet been audited or reviewed.
  5.         If the accounts have been or are being audited or subject to review and the audit report is not attached, details of any qualifications are attached/will follow immediately they are available* (delete one).  (Half yearly statement only - the audit report must be attached to this statement if the statement is to satisfy the requirements of the Corporations Act.) 6.         The issuer has/does not have* (delete one) a formally constituted audit committee. Sign here:    .......................................................   Date:14 March 2025           (Director) Print name:  Oliver B.Hasler   This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.   END     FR PKQBQBBKKNND

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