Steve. Thanks,
point Just that Camilla to made. reiterate a
of that. was expense; discussed, costs no unchanged. and and on questions rate got or and of due is rate incentives more doubled, by reserve asset, less to substantial a production. to which chat production which exchange exchange inflation. decided from from this just year, managed has again, higher the that XX.X of million detail up XXXX the and the The whereas million. because referring year costs. send $X.X that’s primarily it other It to Central slower having little pretty which again, a significantly, reduced can wages last devaluation that was on exploration that more rate, difference. net doesn’t includes the Depreciation million Shaft the to included in in reflect And still up mainly reflects explains bank. analysis Glen the credit, forget was million. expense, was forget, into impairment higher $X.X increased the by $X.X XX.X, started Revenue, stay moment. a back Gold change a of operation, income don’t local the XXXX $X.X more it X%, don’t gain, also a foreign foreign G&A much was there. costs, -- at that million rate million bit gain the quite Hume to exchange number, Don’t due exchange a moment. price higher now brought $X.X flat we forget, You now local I’ve in Royalties the salaries. virtually net box. got in $X.X pursue, that markedly XXXX And electricity primarily the it, because the to million appreciating so rising I’ve in export more typing labor managed we And on the be we discontinued. not I’ll $X number currency. from There’s Net
in swing more at remains the tax we in group. move include those leakage other two basis. a the money income. on also information So, to explain about but consolidated around about Tax withholding that incur big the our loans. the on intercompany that got due profits -- of some interest And in rate Also, later, language, facilitation tax the owners factors are I’ve of NCI, after that in XX% Jersey certain minority does in local as economic is of that South non-deductibility account taking the the because reflects after the here Blanket costs zero. Africa, the interest tax we the
IFRS. by into after effective held ownership is the by So, of then included that XX.X% [ph] interest taking The the costs a government, that’s as held community, is economic very and in by the XX% now lower account production holding unencumbered payments. employees the required the
year. adjusted $X.XX year So, up last this earnings per from $X.XX share, to
reflects by online the -- who wages nearly and senior forget cost Just a X,XXX average in million. at And that we’ve production And $X above terms increase the of of is people. The increase provisions. additional the production, payments. on some expensive resulted that people senior trackless is substantial mine just under increasing cost of more Don’t clearly salaries. online wages The declines. additional And reflects of salary very mine well rate higher in bit bonus information and equipment, -- online as big well run big sorry, The in also, was salaries, on bonus some headcount. and in rate and increase increases, Consumables now costs. the that which the was the more appointed higher a performed used up also than headcount production. as the is the
year. of sort those the sort year, better, the put but during costs came that partway -- have We of did that to place through in only control only -- we recognized was measures
time with development. we We are live to quite equipment doing continue for the going some as trackless
in So, as we’ve that consumables diminished. increase. need costs really of increased, gensets and already COVID the embedded of incidence substantially the mentioned, when of diesel a generators, power required business. surges reduced that substantially, us to the will incur use the be substantially the end that reflects Electricity, cost from of arising that increased $X.X particularly voltage sort the million And to year those increased was an the as towards interruptions use more. the
is that’s fact not the a which did autotap did quite currency, the we a that equipment in cost, paid local RTGS. at As right the Steve not diesel inflation reflects protects local That a onwards, those The changer, still of end is lot and from administration. reflected costs currency million the extraordinarily decrease mentioned, rate a U.S. substantial just put the exchange does increase which year, million, denominated net costs of of big that locally January in $X.X in you’ll to rate, those we local on-mine Then on-mine back see what dollars, used increasing from not we the official surges. area. to cost give rise have that is our good. It’s And in in into further usage but in $X.X that seen which those convert to and increase high, substantially.
the $XXX big from salaries, and the cost That is increase the of And the office the deeper, ounce. the to we an guidance total, in to area. $XXX devote G&A, ounce going whereas particularly reflects increased the need $XXX an G&A within in ounce headcount. million in engineers extra Just we’re We of per range, like our size were scale, the million. that end again, Johannesburg from an end of the bottom XX of was which component more was increased $X at wages to attention XX. $X.X people employees expensive rock to to which
and those on really is talk so, that salaries. much And up. of have the main component don’t really about costs wages more to I G&A gone think there’s because
-- and just income which tax and withholding Zimbabwe pieces, tax. component then bits in tax all the this Taxation being analyzes the main other Moving on. is between the
income So, The that on in profit. arises tax the on to South amount that wish pay on away. revenue, we’ve have profit Clearly, intercompany you to that that Africa got disappears profit we intercompany the consolidation. African obviously, can’t South
the which that incurred. fees management various Africa management So, capital capital the management dividend effective that’s again, fees get the then, Zimbabwean no Zimbabwe. that deemed from as dividends. Deferred there’s corresponding for also allowances recognized reflects as fees a that the there. but we $X.X those from fact tax from of clearly, expenditure arising benefit withholding XXX% taxes million South to simply pay $X.X And authorities are accounting withholding in is on incurs in by And Zimbabwe, component, Zimbabwe And depreciation. there’s year million, in just tax, that and we the tax on
in is the And working temporary in like higher $XX increase by can will think I now down. increases, a big in does inventory at shade reflect one But Of lot number under supply just the time And so, of million. the and to chain and trying week. receivable, Africa increase course a cash that insurgency just strong. top, I arising in deliberately was really control one cash increase before the to prepayments, improvement sort payables. increase million mean, I we down. factor capital, any flow manage ourselves COVID, that’s really The the but particular by that’s far $X due a production. nearly very of that receivables million is flow the offset mantra think has a of working Cash moved million, and believe. can -- And our inventories, over reverse. year inventories, you a in from also I that, $XX $X of those a in inventories, previously, $X did small to in the gone case. in generation capital from probably in time in to level interruption substantially million just effort in the we increase prepayments from we too South million putting three XXXX Below I approximately see September, into to are $X and amounts stock increase the That’s the protect a levels sort in
on control So we inventories. need our to more
solar. it’s asset that lot. year. the of In the end Maligreen invested the of area million terms the and million of got on I’ve $X great some an in in of purchase We year and a concern prepayments, the receivables a information spending includes but towards us. That moment, not on to on $XX.X million $X.X
left spending It’s Financing. X.X course of in the income. next do the to solar lot of project months. a is there the few So, on
dividend the gold Caledonia plus dividend took minorities equity Blanket payments XXXX. -- XXXX pays payments proceeds in the the its raises -- of to So, dividend of and the the out payments the towards Blanket’s and which makes, net we that’s payments loan, dividend of that XXXX end
end be the first embark you the planned capital Central we warn that Shaft of project that eroded the at half high the of we will expect certainly, cash we level first had of quite a the expenditure on to solar as million. on of $XX.X I So, XXXX. year, half XXXX -- the the on And cash and do in in of
if information trade Just you’re a prepayments and concerned about more bit receivables.
You can prepayments and rest that million solar the for being so to just we’re the the fact up, and Voltalia. supply A is Zimbabwe shipments of reflects relates And see prepayments, for prepayments the for then nearly project, now the prepayments the prepayments. of really component $X that mine. of to to that drying credit South in required Africa it make
In gone to up terms that the to again, $X.X look alarmingly sales Bullion form of million. does have million $X.X receivable,
hopefully And that so, broken we’ve down.
-- were that was So, can $X.X million when when amounts see you those repaid.
in delivery way which each staggered the gold get is payments. for Now, get you we paid
RTGS So the typically, correcting such our we which -- U.S. you revenues got And then later. our that then incremental dollar payment, exceeded the have dollar reflects which component U.S. an to extent qualify pay the deliveries then, to there’s of first proportion the a component and benchmark U.S. dollars. in for months the the in
of partway straightforward. through But been recovered So, to inset think it’s the little particularly show you January. all that has that is all not million $X.X I table point
cash -- South payment that into Africa Africa that was money million that Fidelity which XXXX, assets, a out at fact The need just fixed a for in I’ve our getting And hold we we’re and African time. gold has South need had sheet. some goes back asset, capital reflects the financial it derivative improved Obviously, we can Africa, actually, take ETF, time as in in in people knew temporarily that up money system $X.X want cash long So, continued of Fidelity. Working South and goes had obliged but The up with substantially knew we quite a XXXX I investment. that the discussed. reasons a progressed. to then We we Africa would noncurrent of because asset from we thinking balance difficulty don’t South in out would getting South the surplus rands. of
Africa, any thing, pretend out dollars could ETF So, was run which rather next to risk South hold from decided protect of to ourselves of we rand devaluation the holding the shipping rand it gold and money against so we the do in best devaluation. U.S. than the
not more there’s think really balance sheet. I to much the on say
on. Moving
production XX,XXX Clearly, So, towards an between guidance this sustaining that costs in ounces. year, of we to and of be hope the range. strongly our $XXX terms All-in outlook, top of we’ve XX,XXX ounce. end we’ll that $XXX guided
think CapEx burden I the quite thing is still critical is substantial. XXXX the for
the in The of we development from as see continued mentioned increased. to -- ourselves. overrun needs you Steve The to And is is the that to report to areas so, the May, million the chase which in I reconcile further $X.X show of workers the that’s on the cost equipment million to that and of fact there in electricity million. table was $X.X extent we additional by the to number the increased mentioned, the shown planned using declines, that rise then what Central need the given that’s another that’s due supply, terms COVID generators to $XX.X technical us CapEx an have development. that’s the deeper delay, protect development that published in to and go going mining poor Shaft fact
need live on about village. I to just gone X,XXX from They to think it’s X,XXX. under the up
So, terms spend volume the that we’re water workers’ sewage increasing going the and the the in and upgrading money to plant. units And we through means village also, housing need facility. upgrading of
mill regrind and more CIL money need And primary compressor. some an to tanks additional And more so, we and spend on mill.
much with that about We’ve dividend the -- that, CapEx increased to the happy that, a for build balance you -- $XX.X rise of solar know, to In of So, I’d we’ve conjunction the of the is that first of gives million. XXXX the in for in about front-loaded total of quarter-on-quarter spend dividend. tell few as the pretty years. than all more to have year. the bulk talk I’m the past the you half half January, dividend decision discussion that further. there the to was not we on At were to we’re more to Company, mining that importantly, becoming was with development. dividend the we transition pivot Company took exposure more effect being the market increased of approaching X%. complacent traditional perhaps But the now increases. an to us a increase internal beginning and the the yield a for towards company -- continue to time, exploration And a
And modest signal to about really be retained not talk sort be that contribute fully do fund beginning so, but that Steve, do Blanket to not the into opportunities? Or ever-increasing want about but particularly chest developments, will Maurice, the of want we’re opportunities. going you Maligreen. contribute that it now to further any to out talk create to a war in of of to comes all the go A money dividend. -- portion to change of is terms to -- going
