2nd Jun 2005 06:00
2 June 2005 NELSON RESOURCES LIMITED ANNOUNCES FILING OF RESTATED 2004 QUARTERLY REPORTS Nelson Resources Limited (TSX / AIM: NLG), in compliance with Canadiansecurities law, has completed the filing of the restated quarterly reports forthe first three quarters of 2004, including the financial statements and theManagement's Discussion and Analysis (MD&A) document for each quarter.As announced by the Company on March 31, 2005, information previously reportedin the quarterly statements for the first three quarters of 2004 has beenrestated due to a number of changes, notably the retrospective adoption of theU.S. dollar as functional currency at KOA (previously using the Kazakh Tenge)from January 1, 2004, a revision of the marked-to-market valuation ofderivative instruments, and a recalculation of minority interest. The followingtable highlights the changes to revenue and net profit:================================================================================(in thousands of As previously reported RestatedU.S. dollars) Total Net Total Net Revenue Profit/(loss) Revenue Profit/(loss)--------------------------------------------------------------------------------2004, quarter endedMarch 31 26,398 (4,725) 26,398 (9,845)June 30 49,994 668 49,994 3,262September 30 81,491 20,202 77,683 16,766December 31 - - 88,319 (6,488)================================================================================A more detailed analysis of the changes can be found in the year-end MD&A, partof the Company's 2004 Annual Report. This report and the full restatedfinancial statements for the three quarters of 2004 are available on theCompany's website, www.nelsonresources.com, and on SEDAR, www.sedar.com. Theycan also be obtained on application from the Company.For further information, please contact:----------------------------------------Nick Greene, Chief Financial Officer Tel: 020 7495 8908Nelson Resources Limited [email protected] Hodder, Senior Vice President Tel: 020 7495 8908Nelson Resources Limited [email protected] Relations:Ann-marie Wilkinson / Nick Lambert Tel: 020 7861 3232Bell Pottinger Corporate & Financial (London) ENDNELSON RESOURCES LIMITEDRelated Shares:
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