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Interim Results for six months to 31 August 2009

11th Nov 2009 12:20

RNS Number : 3464C
Namibian Resources PLC
11 November 2009
 



FOR IMMEDIATE RELEASE 11 NOVEMBER 2009 

NAMIBIAN RESOURCES PLC

INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2009 

Namibian Resources PLC ("the Company") is pleased to announce its interim results for the six months ending 31 August 2009.

CHAIRMANS STATEMENT 

I am pleased to announce the unaudited interim results for the six months ending on the 31st August 2009. We reported the current position in our progress report of 15th October 2009 and we will report further in due course.

Lord Sheppard KCVO Kt

Chairman

Enquiries

Tony Carlton - Chief Executive - Tel: 020 8726 0900

Oliver Plummer - Finance Director - Tel: 020 7381 0100

Roland Cornish - Beaumont Cornish Limited - Tel 020 7628 3396

Simon Frost

Priscilla Ross - Keith Bayley Rogers & Co Limited -Tel: 0203 100 8300

  

NAMIBIAN RESOURCES P.L.C.

INTERIM RESULTS

FOR 6 MONTHS ENDED 31 AUGUST 2009

Summarised Income Statement

6 Months Ended 

6 Months Ended

Year Ended

31-Aug-09

31-Aug-08

28-Feb-09

(Unaudited)

(Unaudited)

(Audited)

GBP £

GBP £

GBP £

Turnover

0

71,782

127,580

Cost of Sales

0

(100,095)

(414,848)

Gross (Loss)

0

(28,313)

(287,268)

Administrative Expenses

(192,700)

(168,123)

(206,506)

Operating (Loss)

(192,700)

(196,436)

(493,774)

Interest Received

141

375

1,289

Interest Payable

-

-

-

Net (Loss) for the period

(192,559)

(196,061)

(492,485)

(Loss) per Share

(0.48)

(0.49)

(1.23)

Total Number of Shares in Issue

39,922,460

39,922,460

39,922,460

  

NAMIBIAN RESOURCES P.L.C.

INTERIM RESULTS

FOR 6 MONTHS ENDED 31 AUGUST 2009

Summarised Balance Sheet

6 Months Ended

6 Months Ended

Year Ended

31 August 2009

31 August 2008

28 February 2009

(Unaudited) GBP

(Unaudited) GBP

(Audited) GBP

£

 £

 £

ASSETS

Non - Current Assets

1,769,302

1,864,648

1,828,283

Property, Plant & Equipment

856,639

910,325

913,712

Intangible Assets & Exploration Costs 

- Mining Rights

912,663

954,323

914,571

Current Assets - 

Inventories

31,967

32,673

31,967

Trade & Other Receivables

32,853

30,304

36,165

Cash and Cash Equivalents

5,189

53,737

36,739

70,009

116,714

104,871

Total Assets 

1,839,311

1,981,362

1,933,154

Equity 

Share Capital

3,992,246

3,992,246

3,992,246

Share Premium Accounts

359,384

359,384

359,384

Retained Earnings

(3,194,215)

(2,705,232)

(3,001,656)

Foreign Exchange Reserve

176,507

99,562

176,507

Total Equity 

1,333,922

1,745,960

1,526,481

Current Liabilities

Trade & Other Payables

505,389

235,402

406,673

Total Liabilities

1,839,311

1,981,362

1,933,154

NOTES TO THE FINANCIAL INFORMATION

1.

The interim results are unaudited and do not comprise full accounts within the meaning of 

Section 240 of the Companies Act 1985.

2.

No interim dividend is being paid or proposed.

3.

Earnings per share have been calculated on ordinary shares in issue.

NAMIBIAN RESOURCES P.L.C.

INTERIM RESULTS

FOR 6 MONTHS ENDED 31 AUGUST 2009

Cash Flow Statement

6 Months Ended

6 Months Ended

Year Ended

31 August 2009

31 August 2008

29 February 2009

(Unaudited) GBP

(Unaudited) GBP

(Audited) GBP

£

 £

 £

Net Cash inflow/(outflow) from Operating Activities

Operating (Loss)

(192,700)

(196,436)

(493,774)

Depreciation of Tangible & Intangible Assets

107,468

71,808

209,396

(Increase)/Decrease in Debtors

3,312

(3,941)

(9,802)

(Decrease)/Increase in Creditors

98,716

184,282

355,553

Decrease/(Increase) in stock

-

-

706

Net Effect of Foreign Exchange Differences

-

-

(46,625)

16,796

55,713

15,454

Returns on Investment & Servicing of Finance 

Interest Received

141

375

1,289

Capital Expenditure 

Payments to Acquire Tangible Fixed Assets 

-

(5,757)

(35,605)

Payments to Acquire Intangible Fixed Assets 

(48,487)

(100,094)

(47,809)

Net Cash (outflow) before management

of Liquid Resources & Financing

(31,550)

(49,763)

(66,671)

Financing -

(Decrease) in Cash& cash Equivalents

during the period

(31,550)

(49,763)

(66,761)

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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