Interim Results

26 March 2015

Emerging Market Minerals Plc

("Emerging Market Minerals" or the "Company")

Interim Results for the six months ended 31 December 2014

Emerging Market Minerals (AIM: EMM), the AIM listed uranium, thorium, base and precious metals and gemstones exploration and development company operating in Madagascar, announces its unaudited interim results for the six months ended 31 December 2014.

Highlights:

· Continued identification and assessment of a number of attractive project opportunities for potential acquisition in order to expand the Company's asset portfolio.

· Loss before and after taxation for the period of approximately £100,000 (31 December 2013: £77,000).

· Group's indebtedness extinguished following an equity subscription of £405,000, before expenses, by an existing substantial shareholder in the Company.

· Change of Company's name approved by shareholders and new corporate website launched.

For further information, please contact:

Chairman's Statement

I am pleased to present the Group's unaudited interim results for the six-month period ended 31 December 2014.

The Group incurred a loss before and after taxation for the six month period of approximately £100,000 (2013: £77,000). The loss reflects the limited essential care and maintenance expenditure required to maintain the good standing of our Marodambo Project, corporate running costs and expenditure associated with conducting the requisite due diligence on potential new attractive project opportunities.

During the reporting period, the Board has continued to diligently assess further potential opportunities to expand the Company's asset portfolio in line with our stated strategy. Market conditions have continued to be extremely challenging for companies operating in the mining sector, such that the Board has yet to secure a suitably compelling proposition, at a sensible valuation, to present to shareholders and potential investors to raise the requisite funding to pursue such an opportunity.

The Group's early stage Marodambo Project in Madagascar, focused on exploration for uranium and thorium, remains on a care and maintenance footing, pending receipt of the requisite environmental clearances and approvals from the relevant Madagascan government authorities in respect of the potential Phase 2 exploration work programme for the project.

On 9 September 2014, the Company announced that it had raised £405,000 before expenses, via a subscription for new ordinary shares by Kijani Resources Limited ("Kijani"), an existing substantial shareholder in the Company. Kijani subscribed for 1,000,000 new ordinary shares at a price of 40.5 pence per share. The net proceeds raised from the subscription were used to repay the Group's existing indebtedness with the balance to be applied for general working capital purposes. The Company anticipates raising additional equity and/or debt finance in due course in order to ensure that the Group maintains an appropriate capital structure and is able to fund its ongoing working capital requirements and potential future development opportunities.

Concurrently with the subscription, we announced certain Board changes, including the appointment of William Redford as a Non-Executive Director of the Company. As part of the Board changes, I assumed the role of Executive Chairman with Roy Spencer assuming the role of Non-Executive Director. William joined the Board to assist us in identifying and evaluating potential opportunities to expand the Company's asset portfolio in line with our stated strategy and we continue to believe in the longer-term fundamentals for the natural resources sector. On 21 October 2014, the Company also announced the resignation of James Slade as a Non-Executive Director to pursue his other business interests.

At the Company's Annual General Meeting held on 5 December 2014, shareholders approved a change in the Company's name to "Emerging Market Minerals PLC" and, we subsequently launched a new corporate website at: www.emergingmarketminerals.com.

We again thank all of our shareholders, advisers and other stakeholders for their continued support and patience as we continue to pursue our objective of securing a suitable opportunity to generate long-term shareholder value.

Dr Bernard Olivier

Executive Chairman

26 March 2015

Consolidated Statement of Comprehensive Income

For the six months ended 31 December 2014

Consolidated Statement of Financial Position

as at 31 December 2014

Consolidated Statement of Changes in Equity

For the six months ended 31 December 2014

Consolidated Cash Flow Statement

For the six months ended 31 December 2014

Notes to the Interim Financial Information

For the six months ended 31 December 2014

1. General information

Emerging Market Minerals Plc is a mineral exploration and development company. The Company is a public limited company incorporated in England and Wales with company number 05980987. It is quoted on AIM, a market operated by the London Stock Exchange Plc.

2. Basis of preparation

The interim financial information, which incorporates the financial information of the Company and its subsidiary undertakings (the "Group"), has been prepared using the historical cost convention, on a going concern basis and in accordance with International Financial Reporting Standards ("IFRS") as adopted by the European Union ("EU").

The interim financial information for the 6 months to 31 December 2014, which complies with IAS 34 "Interim Financial Reporting", was approved by the board on 25 March 2015.

The unaudited interim financial information for the period ending 31 December 2014 does not constitute statutory accounts within the meaning of section 435 of the Companies Act 2006. The comparative figures for the year ended 30 June 2014 are extracted from the statutory financial statements for that financial year which have been delivered to the Registrar of Companies and which contained an unqualified audit report and did not contain any statements under Sections 498 and 502 of the Companies Act 2006. 

3. Significant accounting policies

The accounting policies applied are consistent with those of the annual financial statements for the year ended 30 June 2014, as described in those financial statements.

There are no IFRSs or IFRIC interpretations that are effective for the first time in this financial period that would be expected to have a material impact on the Group.

There are no other IFRSs or IFRIC interpretations that are not yet effective that would be expected to have a material impact on the Group.

4.  Segmental analysis

The Group's primary reporting format is business segments and its secondary format is geographical segments. The Group currently only operates in a single business and geographical segment. Accordingly, no segmental information by business segment or geographical segment is required.

5. Losses per share

Losses per ordinary share have been calculated using the weighted average number of shares in issue during the relevant financial period. The weighted average number of equity shares in issue was, basic and diluted, 39,060,968 (30 June 2014: 31,626,887; 31 December 2013: 30,137,806). The loss for the financial period was £100,000 (loss 31 December 2013: £77,000; loss 30 June 2014: £665,000).

6. Reconciliation of operating (loss) to net cash outflow from operating activities

7. Called up share capital

The issued ordinary share capital as at 31 December 2014 was 39,441,403 (30 June 2014: 38,441,403; 31 December 2013: 30,137,806) ordinary shares of £0.001 each.

8. Unsecured loan and convertible loan notes

The Company entered into an unsecured loan agreement with Irvine Securities Limited on 11 July 2013. The principal amount was £150,000 and interest accrued at a rate of 8 per cent. above Barclays Bank PLC's base rate from time to time. The loan and accrued interest were settled in full on 3 October 2014.

The £200,000 unsecured convertible loan notes due 27 February 2015 were converted in full, at the election of the noteholder, on 26 June 2014 into 3,333,333 new ordinary shares at a conversion price of 6 pence per new ordinary share. The convertible loan notes accrued interest at a rate of 2 per cent. above the Royal Bank of Scotland plc's base rate from time to time.

9. Related party transactions

Transactions between the Group and its subsidiaries, which are related parties, have been eliminated on consolidation and are not required to be disclosed.

10. Post balance sheet events

There are no post balance sheet events to report.

11. Availability of Interim Financial Statements

A copy of these unaudited interim results will be made available from the Company's registered office at 30 Portland Place, London W1B 1LZ during normal business hours on any weekday. The interim results will also be made available on the Company's website at: www.emergingmarketminerals.com.