Golden Energy and Resources Limited (GEAR) says it expects to report a “significant improvement” in its revenue and earnings for the 2HFY2021 and FY2021 ended December.
The improvement in revenue and earnings is primarily attributed to the higher average selling prices arising from an increase in coal prices, as reflected in the Indonesian Coal Index 4 (ICIT4), says GEAR in a Feb 10 statement.
The estimates are based on a preliminary assessment of the company’s unaudited financial results for the FY2021. Its results will be released on or around Feb 18.
Shares in GEAR closed flat at 35.5 cents on Feb 10.
