20th Nov 2012 16:01
For immediate release 20 November 2012
NAMIBIAN RESOURCES PLC
UNAUDITED INTERIM RESULTS
FOR THE SIX MONTHS ENDED 31 AUGUST 2012
Namibian Resources Plc ("the Company") is pleased to announce its interim results for the six months ending 31 August 2012.
CHAIRMAN'S STATEMENT
Production has been disappointing for the first six months due to operational difficulties. However negotiations are continuing to acquire and finance a company to expand our operations. These negotiations should be concluded shortly and an announcement will be made at the appropriate time.
Lord Sheppard
Chairman
Enquires
Tony Carlton - Chief Executive Officer - Tel: 020 8726 0900
Roland Cornish - Beaumont Cornish - Tel: 020 7628 3396
Simon Frost / Priscilla Ross - Keith Bayley Rogers & Co Limited - Tel: 0203 100 8300
NAMIBIAN RESOURCES PLC
INTERIM RESULTS
FOR THE 6 MONTHS ENDED 31 AUGUST 2012
Summarised Income Statement | 6 Months Ended | 6 Months Ended | Year Ended | |||||
31-Aug-12 | 31-Aug-11 | 28-Feb-12 | ||||||
(Unaudited) | (Unaudited) | (Audited) | ||||||
GBP £ | GBP £ | GBP £ | ||||||
Turnover | 25,705 | 12,427 | 13,629 | |||||
Cost of Sales | - | (138,820) | - | |||||
Gross (Loss) | 25,705 | (126,393) | 13,629 | |||||
Administrative Expenses | (202,862) | (40,891) | (343,872) | |||||
Operating (Loss) | (177,157) | (167,284) | (330,243) | |||||
Interest Received | - | - | - | |||||
Interest Payable | - | - | - | |||||
Net (Loss) for the period | (177,157) | (167,284) | (330,243) | |||||
(Loss) per Share | (0.33) | (0.41) | (0.65) | |||||
Total Number of Shares in Issue | 61,821,352 | 44,302,852 | 61,821,352 | |||||
NAMIBIAN RESOURCES PLC
INTERIM RESULTS
FOR THE 6 MONTHS ENDED 31 AUGUST 2012
Summarised Balance Sheet | 6 Months Ended | 6 Months Ended | Year Ended | |||||
31 August 2012 | 31 August 2011 | 28 Feb 2012 | ||||||
(Unaudited) GBP | (Unaudited) GBP | (Audited) GBP | ||||||
£ | £ | £ | ||||||
ASSETS | ||||||||
Non - Current Assets | 1,873,355 | 2,107,136 | 1,929,122 | |||||
Property, Plant & Equipment | 1,008,961 | 1,072,884 | 1,028,789 | |||||
Intangible Assets & Exploration Costs | ||||||||
- Mining Rights | 864,394 | 1,034,252 | 900,333 | |||||
Current Assets - | ||||||||
Inventories | 8,816 | 9,263 | 4,378 | |||||
Trade & Other Receivables | 60,429 | 17,622 | 53,745 | |||||
Cash and Cash Equivalents | 23,755 | 13,614 | 15,301 | |||||
93,000 | 40,499 | 73,424 | ||||||
Total Assets | 1,966,355 | 2,147,635 | 2,002,546 | |||||
Equity | ||||||||
Share Capital | 4,211,235 | 4,036,050 | 4,211,235 | |||||
Share Premium Accounts | 1,027,317 | 589,355 | 1,027,317 | |||||
Retained Earnings | (4,215,648) | (3,875,532) | (4,038,491) | |||||
Currency Translation Reserve | 503,827 | 679,835 | 503,827 | |||||
Total Equity | 1,526,731 | 1,429,708 | 1,703,888 | |||||
Current Liabilities | ||||||||
Trade & Other Payables | 439,624 | 717,927 | 298,658 | |||||
Total Liabilities | 1,966,355 | 2,147,635 | 2,002,546 | |||||
NOTES TO THE FINANCIAL INFORMATION | ||
1. | The interim results are unaudited and do not comprise full accounts within the | |
meaning of the Companies Act 2006. | ||
2. | No interim dividend is being paid or proposed. | |
3. | Earnings per share have been calculated on ordinary shares in issue. | |
NAMIBIAN RESOURCES PLC
INTERIM RESULTS
FOR THE 6 MONTHS ENDED 31 AUGUST 2012
Cash Flow Statement | ||||||||
6 Months Ended | 6 Months Ended | Year Ended | ||||||
31 August 2012 | 31 August 2011 | 28 February 2012 | ||||||
(Unaudited) GBP | (Unaudited) GBP | (Audited) GBP | ||||||
£ | £ | £ | ||||||
Net Cash inflow/(outflow) from Operating Activities | ||||||||
Operating (Loss) | (177,157) | (167,284) | (330,243) | |||||
Depreciation of Tangible & Intangible Assets | 55,767 | 47,879 | 88,678 | |||||
(Increase)/Decrease in Debtors | (6,684) | 31,924 | (4,199) | |||||
(Decrease)/Increase in Creditors | 140,966 | 90,506 | (328,763) | |||||
Decrease/(Increase) in stock | (4,438) | - | 4,885 | |||||
Net Effect of Foreign Exchange Differences | - | - | (38,793) | |||||
8,454 | 3,025 | (608,435) | ||||||
Returns on Investment & Servicing of Finance | ||||||||
Interest Received | - | - | - | |||||
Capital Expenditure | ||||||||
Payments to Acquire Tangible Fixed Assets | - | - | - | |||||
Payments to Acquire Intangible Fixed Assets | - | - | - | |||||
Net Cash inflow/(outflow) before management | ||||||||
of Liquid Resources & Financing | 8,454 | 3,025 | (608,435) | |||||
Financing - | ||||||||
Increase/(Decrease) in Cash& Cash Equivalents | ||||||||
during the period | 8,454 | 3,025 | (4,712) | |||||
Proceeds of Issue of Shares | - | - | 613,147 | |||||
8,454 | 3,025 | 608,435 | ||||||
Related Shares:
NBR.L