Investor Presentaiton
Consolidated Statement of Financial Position - 30th June 2021
Selected Key Items
In US$ million,
unless stated otherwise
As at
As at
% chg
30th Jun 2021
31st Dec 2020
Cash and cash equivalents (1)
16.1
40.2
(60)
Inventories current
Other current assets
35.5
31.2
14
86.8
30.6
184
Total current assets
138.4
101.9
36
Inventories - non current
93.9
89.1
15
Fixed assets
174.6
143.1
22
Mine properties
222.0
196.7
13
Exploration and evaluation assets
55.4
48.9
13
Other non-current assets
29.4
20.5
43
Total assets
713.7
600.2
19
Short term bank loans
19.6
2.3
752
Trade payables
36.9
8.3
343
Current maturities of long term liabilities
68.2
68.6
(1)
Total current liabilities
178.1
126.0
41
Non-current liabilities
293.1
326.4
(10)
Total liabilities
524.5
505.9
4
Non-controlling interest
Total equity
0.05
189.2
0.02
166
94.3
101
Note:
Healthy balance sheets position with low debt to equity
("DER") level
Approximately US$65mn of gross IPO proceeds received at
the end of June 2021, with c.US$60mn recorded as restricted
cash toward debt reduction.
Higher fixed assets and mine properties mainly from higher
capex spending on mine development for Araren stage 5 Pit,
plant expansion project, exploration activities and land
acquisitions.
Increased in short term bank loans due to additional working
capital loans drawdown in March 2021.
Higher trade payables were mainly due to significant increase
in mine development and exploration activities.
Total net debt (2) was at US$314.2mn on 30th June 2021,
calculated as total interest bearing debts of US$380.9mn
reduced by restricted cash in relation to Debt Service of
US$66.7mn.
In early July 2021, the Company had paid a portion of the long
term bank loan amounted to US$59.3 mn from the IPO
proceeds. Therefore, Archi's debt to equity ("DER") ratio is now
at 1.7x, a significant improvement compared to 4.1x as at 31st
December 2020.
The financial position as at 30th June 2021 have been prepared in accordance with Indonesian Financial Accounting Standards and are unaudited. The financial position as at 31st December 2020 has been prepared in accordance with Indonesian Financial
Accounting Standards and audited in accordance with the auditing standards established by the Indonesian Institute of Certified Public Accountants.
(1) Cash and cash equivalents were excluding restricted cash in relation to Debt Service amounted to US$66.7 mn,
(2) Net Debt is calculated as the total balance of interest bearing debt reduced by current restricted cash in relation to Debt Service.
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