NORTH077 Annual Report 2020 V5.2 DIGITAL

54
NORTHERN MINERALS _ ANNUAL REPORT 2021
NORTHERN MINERALS LIMITED
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 30 June 2021
Note
2021
$
2020
$
Revenue from continuing operations
Revenue from contracts with customers 5 - 3,069,070
Interest 6 19,364 24,432
Research and development rebate 5 9,782,024 23,272,772
Other income 5 2,298,703 2,060,379
Total revenue 12,100,091 28,426,653
Corporate expenses
Administration expenses 615,444 1,334,803
Depreciation expense 10(a) 1,635,986 24,430,719
Share-based payments expense 17 (60,035) (586,159)
Legal and professional expenses 1,473,485 2,364,618
Occupancy expenses 99,166 247,176
Employee benefits expense 2,635,765 3,385,067
Other corporate expenditure 181,927 1,684,557
Royalty expense - 125,926
Impairment loss on property, plant and equipment 10 - 24,763,044
Changes in the fair value of interest bearing liabilities at
fair value through profit & loss
8(e) 189,162 (189,162)
Total corporate expenses 6,770,900 57,560,589
Exploration and evaluation expenditure
Exploration costs 4 3,207,982 2,605,662
Project evaluation and pre-feasibility 4 10,387,943 19,618,647
Mining expenditure 4 43,679 116,319
Total exploration and evaluation expenditure
expenses
13,639,604 22,340,628
Total expenses 20,410,504 79,901,217
Operating loss for the year (8,310,413) (51,474,564)
Finance costs / (Income) 6 217,905 2,853,796
Loss before income tax for the year (8,528,318) (54,328,360)
Income tax expense 7 - -
Loss for the year (8,528,318) (54,328,360)
Other comprehensive income - -
Total comprehensive loss for the year attributable
to members of the entity
(8,528,318) (54,328,360)
Loss per share attributable to ordinary equity
holders of the company:
Basic and diluted loss per share (cents per share) 19 (0.19) (2.04)
The above consolidated statement of profit and loss and other comprehensive income should be read
in conjunction with the accompanying notes
22