The Independent Auditor JSC “Unicon” prepared a consolidated statement of the financial position of PJSC “ALMAR”. The presented financial statements reflect an assessment of the impact of existing conditions on the company’s activities, its results and financial indicators. The document has been prepared in accordance with International Financial Reporting Standards (IFRS).
PJSC ALMAR Arctic Diamonds (short name – PJSC ALMAR) has published a report on financial results for 2022, including the results of the activities of its subsidiary subsoil user AMC LLC.
The volume of assets for exploration and evaluation of deposits increased 2.8 times in 2022 and amounted to 275 million rubles. Exploration and evaluation assets are geological exploration, sinking and drilling operations at the Khatystakh and Beenchimee license areas.
“Last year, we increased the volume of exploration assets by almost 3 times due to the implementation of a planned complex of exploration works. As a result, the Beenchime site provided an increase in proven reserves in the preliminary estimated amount of 2.5 billion rubles, which is 18 rubles per 1 ruble of exploration costs for this site. We are pleased with the results achieved. Most of the funds are invested in geological exploration in order to enter the development of the first field in 2024. ALMAR steadily finances its activities in the required volumes and deadlines, despite all external factors, and continues to implement investment projects in accordance with our plans” – Andrey Karkhu, CEO of ALMAR.
Over the past year, ALMAR carried out only planned exploration work, did not generate revenue and did not receive income. Geological exploration remained the main item of expenditure. 176 million rubles were allocated for these purposes.
In 2023, the company plans to continue exploration at both sites and begin organizing pilot development of the Beenchime deposit in order to start mining and selling diamonds in 2024.