Rand Mining Limited (ASX: RND) has provided its annual report to shareholders for the year ending 30 June 2020.
The loss for the Group after providing for income tax amounted to $1,536,490 (30 June 2019: profit of $67,388,360).
The Group’s operations were funded by the sale of its investments in Tribune Resources Limited, hence only a minimal amount of gold was sold during the year.
The impact of the Coronavirus (COVID-19) pandemic is ongoing and while it has not significantly impacted the Group up to 30 June 2020, it is not practicable to estimate the potential impact, positive or negative, after the reporting date. The situation is rapidly developing and is dependent on measures imposed by the Australian Government and other countries, such as maintaining social distancing requirements, quarantine, travel restrictions and any economic stimulus that may be provided.
