CNMC Goldmine Holdings Limited

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All-in Costs and Margins

Financials

First Half All-in Cost Breakdown

Financials

1 Adjusted operating costs include production costs such as mining production and maintenance costs, royalties, and operating costs such as storage, net of by-product credits. These costs may vary depending on seasonal or cyclical factors, including among others, rainy season and grade of gold extracted from the ore.

2 All-in sustaining costs include adjusted operating costs and sustaining capital expenditure, corporate general and administrative expenses, exploration expense, reflecting the full cost of gold production from current operations.

3 Include all-in sustaining costs and non-sustaining costs. Non-sustaining costs are costs incurred for new operations and costs related to construction of the new production facility for the existing operations where these projects are expected to materially increase production in future.

 

The all-in costs per ounce in 1H2022 was US$1,280 per ounce, 16.1% lower than the all-in costs in 1H2021. The decrease in the adjusted operating costs was due to the exclusion of costs incurred for the lead and zinc mining activities (“L&Z Operations”). The L&Z Operations is situated at the heap leach facility, which is temporarily not used for gold production. With the manpower and facilities at the aforesaid heap leap facility re-deployed instead for the L&Z Operations, all-in costs for gold operations were lower as a result. This decrease was partly offset by the higher capital expenditure from non-sustaining operations, resulting from construction of additional underground mining facilities for gold.

If the L&Z Operations was included, the all-in costs would be US$1,556 per ounce, 2% higher than in 1H2021.

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