along, So, to got naughty finished. to hurry confess. a bit I've I'm the he's keep slides on moving Steve I before
is months for dividends. get of to We as because a The paid this April anomaly was dividend we the year of previous first ordinarily back The sense declared which So, of $X.XXX, to early very and in more the you in declared have XX. Last year and dividend declared and and six arcane i.e., to dividend better XXXX here. regulatory to year, May and months declared quarter, at coronavirus. year first with this months, three of the six obscure go year the looks happening we reason. that The last at would that's reason for year after declared look if months we months was the we six be we to what six June is Steve slide. than would an quite January. some on that deferred six the half actually very last the the in we one declared right there July to end that end after in have declared just the one ordinarily April, it in
in we had XXXX So dividends. only in two had dividends in we XXXX terms the of whereas three dividend declaration,
[ph]. the can it last distributions give than dividend every increase the want don't it for $X.XXX that cut environment pretty I We going graph and we a increased of was than, other of since we've late share an So, quarter of May a level we here the dividend. deferred and at it. sort rather year we've clear, actually to sort what that it confusion held where see XXXX month thought April, increase And then on in you of increased our might as to you see sort make to it that see any I mentioned, much showing quarterly
few in dividend there's on So, gold the were XXXX. X.X%. price since nearly October That's we adverse in a to probably of price up since about gone increase the XX% ago. a And days movement dividend the quarterly our a share reacted yield
bodies just tons to in and in any record at what milled was quarter that That information Shaft ore. tons produced development and milled here and Shaft see hoisting the Central to production. any is moment some for itself all. that is it's four the it's mentioned now milled the and -- two, the to hoisting but so is quarter tons recovery. that get on two can already at here the pressure doing demonstrates relieves the in the production a focus shaft the about encapsulate a produced record What waste for that waste driver grade quarter you up then incremental is number and ounces quarter is contributing now quarter and on Turning ounces connected The ore for with the Steve's Central
Central that July's start So, less it's of already hoisting bearing the to ounces for which mentioned, we'd achieving And of ounces, ounces than XX,XXX X just on if -- gold a substantial X,XXX extrapolate our Steve's towards was you end by material again ounces the progress again so already ounces target making continued X,XXX contribution. year. the it's quarter, shows X,XXX as production actually expect Shaft a year, but
that other to million combination a quarter but at than afraid the having electricity, gold that's increased by and expected the in of or but revenue commissioned later, the that's to because of expected perhaps profit not and account; Depreciation looking that royalty and about in higher the for Central price. higher Just $XX for than later. X%. about bit million the quarter Shaft, lower more come The and it. were I'm up same as little costs, the loss even start got depreciating on production costs at I'll to production $X a we've slightly general stays Production area has
about million. So, that $X increase would about charge depreciation annual to $X million the from
more the taken controls, has Camilla on complexity reflects everything gross of We've information looking on technical and below up the mine. that's Audit of Johannesburg at is internal million increased below in slightly go taken $XX.X then person to and that kind staff to to help really. That we've due got that. new Dana on on to help an with million. Then the Internal this level, salaries G&A -- primarily and and to hires. good, profit and wrong quarter is mainly increased Investor improve Relations, $X.X wages So that two our I've strengthen taken up with things for level, us
us encourage we was produce net in we also of $X.X foreign You'll a and $X.X gain a million That exchange net see income net that gold. income, more other grant had government of to million. last year had to
comparable because the XXXX. So, we the million quarter, of loss in -- non-operating stopped. pretty this a addition, impaired Then we had But income had asset. we $X much exchange Glen Zimbabwe a the net the in in foreign in Hume dollar of has devaluation rate
million And criteria, So, because we $X million intervening spent the meet that. now we we've doesn't option $X.X it because that away impaired for walk and about an we our to bought period. over decided from project
is contribution $X.X million a So, impairment. that
expense, before a a overall So quarter There's effect second million tax impairment effective the that. no the the XXXX but tax $X.X of charge corresponding and and tax $X.X the quarter the aggregate tax -- $X.X income, year largely about effective million. no there impairment rate whereas to in down XX% $X.X that's $X we because $X.X million million we charge. million reduced profit had PBT, offset Tax had -- over against why just tax second to quarter for the was on was the this in goes from that's million
So, the remained expense tax unchanged.
bit feel Steve on. the a underlying down the the adjusted fair a quarter, in performance which of of detail that is share, earnings business. mentioned, then, later we on get per to of as reflection come I'll So, $X.XXX more And for
turning production costs. Just to
was can was that, said, see much I everything you expected electricity. as as only wasn't we area Here The pretty it expected. where as
million our the $X.X that's use from to the are suffer having means having protect because also nearly the $X.X million own use continue gensets to incoming more million, to more from for we So a because extra. quarter are outages And to more the our in equipment. increased run deterioration for supply, -- having and we year gensets to and gensets it half are the we more to $X of we're having grid we which
have a Now, we strategy.
run daily the It all, actually I think we using first so it's point not problem. if necessary plan usage everything is think that will be operational year, you we should that. a we a existential which the but make has project, provide First will to I cost solar in implication, average which our and know of by can the accommodate about XX% a next entire could as have But grid. to reduce an Blanket's business, put of on gensets diesel dependence April
evaluating scope how our we the reduce the project We solar further are that of to grid. increase already dependence can on
So, online much very as expected. costs
breakdown Here a headings. you of almost see the G&A, main
can really comes the You increase from see employee costs. main
increase It's due headcount. that is per $XXX of the per fixed. -- our like of the that below mentioned, largely mean all-in guidance that on-mine to online I As sustaining $XXX ounce quarter something for guidance our ounce does XX% of quarter ounce at range. an an terms our The are cost noting to similarly in on-mine our also costs $XXX. in of for below cost was on-mine for of cost $XXX was our ounce? cost What ounce per And whole year costs, the per worth
ounces we fixed expect we first second the do see so that for half progresses on-mine per cost expect and costs the get the to further. means as those increase so year spread production half, ounce that fall more over to to the And as compared
match of capital income the between capital so our of come very treatment the deferred the tax -- bulk mentioned and guidance probably in difference I target. tax tax in tax is below Zimbabwe least of of profits So, we're on deferred be our expenditure. bulk accounting feeling cost tax recognizes arising the will and expenditure the confident the tax. will The at that Mine at treatment -- Blanket
XX%. express If that million of you transactions actually so and IFRS a very is end tax of add income an income $X.X on-mine tax profit the which those you million percentage which tax rate under very, two of rate to with close is of of tax, the in and up together, as XX%, gross very effective $X.X about close to Zimbabwe just PBT; deferred
also isn't Group So, flow completely profits that other the Africa incur give that some we addition, tax should charge taxes on money strong. that you you move -- borders. bulk and then wrong. across as that should around in comfort in the of we intercompany tax But some was very the give and some comfort South Cash
cash -- and $XX working It's volatile $X.X it capital then credit to million if who comparable quarter pleasing working or down. Typically, nearly the can before working the us to it to for have receivables once build pay net the we So, our was quarter. large Fidelity capital up allow to we goal can in to lump for capital flow go a quite sell electricity be increase we also see due compared and if we down for sum. from
So, normalize it's capital nice bit. a to see working
activities was cash net million, strong. operating $XX So, from about very
on there. time We've we've know the on project. development really associated invest for Shaft We've orders that's with spending some million made about solar started so Central the continue big $X.X deposits not placed. that already We you to as
solar spending year. the now January, in February kick the project will until from really on probably So, next
procurement it we hold and very the could knew to at out in we quite So, the we it. and in it taken last there's that we're it's which but controls pleased in South South devaluation. cover This sitting is Balance need it. would at need is of it, Africa the cash hold liabilities. when financial exchange had derivative country, into the balance talk it we a of Africa, to nothing money dollars, out easier on South flow about. we year to point cash back of can't of in sheet, Africa that need US very, We very surplus some is and -- than and have strong sheet of South the we to that Because quite then have asset really sharp end Africa, rand volatile take subject problem rands to take we we with
South ourselves a next in can't the best Africa of then strip hold position so which in out liquidated in embarrassment And we enough, quickly rather gold We than and did back and it only on long-term to of sort money put a thing where that get there's repatriated other we and sheet deferred the doubt to out The is ETF. have back those I'd of course quarter liabilities. tax this liabilities, balance funds liabilities; the Jersey. item provisions, there. is no up the mainly Non-current we've the point that's we
liabilities current denominated less got that's $XXX,XXX and mainly than again, of We've the debt trade is payables. worth For that locally working capital facilities.
about -- move talk hand Steve it I'll that, with I'll Zimbabwe. So back to opportunity in the to
