Latin Resources outlines developments planned for 2021
Latin Resources Limited (ASX:LRS) has released its annual report the year ended 31 December 2020, announcing that the company is debt free and in a very healthy financial position as it looks forward to progressing its projects in 2021 to the next level of development.
The highlights are outlined below:
The consolidated profit after tax of the company for the year ended 31 December 2020 was $3.5 million (2019: loss of $5.5 million).
The net assets of LRS have increased to $11 million (2019: net assets deficiency of $736,824).
The company has a strong cash position of $4.5 million at 31 December 2020 (2019: $733,282) which subsequently has been further bolstered from the proceed of the exercise of LRSOC options by option holders to date.