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Unaudited Interim Results

9th Nov 2011 17:16

RNS Number : 8199R
Namibian Resources PLC
09 November 2011
 



For immediate release 9 November 2011

 

 

 

 

NAMIBIAN RESOURCES PLC

UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2011

 

 

Namibian Resources Plc ("the Company") is pleased to announce its interim results for the six months ending 31 August 2011.

 

 

 

CHAIRMAN'S STATEMENT

 

As previously advised our mining operations were suspended on the 10th august due to health and safety matters not relating to our operations.

 

Production for the five month period until suspension on 10th August 2011 was 338 stones for a total of 143·;25 carats with an average stone size of ·;42 carats. The conversion of Director's loans into equity will assist our endeavours to raise capital and mining operations restarted as previously advised.

 

 

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 P.L.C.

INTERIM RESULTS

FOR 6 MONTHS ENDED 31 AUGUST 2011

Summarised Income Statement

6 Months Ended

6 Months Ended

Year Ended

31-Aug-11

31-Aug-10

28-Feb-11

(Unaudited)

(Unaudited)

(Audited)

GBP £

GBP £

GBP £

Turnover

12,427

24,756

52,845

Cost of Sales

138,820

(66,905)

349,250

Gross (Loss)

(126,393)

(42,149)

(296,405)

Administrative Expenses

(40,891)

(181,591)

(120,906)

Operating (Loss)

(167,284)

(223,740)

(417,311)

Interest Received

-

57

72

Interest Payable

-

-

-

Net (Loss) for the period

(167,284)

(223,683)

(417,239)

(Loss) per Share

(0.41)

(0.56)

(1.03)

Total Number of Shares in Issue

44,302,852

39,922,460

44,302,852

 

 

 

 

 

 

 

NAMIBIAN RESOURCES P.L.C.

INTERIM RESULTS

FOR 6 MONTHS ENDED 31 AUGUST 2011

Summarised Balance Sheet

6 Months Ended

6 Months Ended

Year Ended

31 August 2011

31 August 2010

28 February 2011

(Unaudited) GBP

(Unaudited) GBP

(Audited) GBP

£

 £

 £

ASSETS

Non - Current Assets

2,107,136

2,004,356

2,155,015

Property, Plant & Equipment

1,072,884

980,704

1,117,183

Intangible Assets & Exploration Costs

- Mining Rights

1,034,252

1,023,652

1,037,832

Current Assets -

Inventories

9,263

44,438

9,263

Trade & Other Receivables

17,622

47,387

49,546

Cash and Cash Equivalents

13,614

10,819

10,589

40,499

102,644

69,398

Total Assets

2,147,635

2,107,000

2,224,413

Equity

Share Capital

4,036,050

3,992,246

4,036,050

Share Premium Accounts

589,355

359,384

589,355

Retained Earnings

(3,875,532)

(3,514,692)

(3,708,248)

Currency Translation Reserve

679,835

527,180

679,835

Total Equity

1,429,708

1,364,118

1,596,992

Current Liabilities

Trade & Other Payables

717,927

742,882

627,421

Total Liabilities

2,147,635

2,107,000

2,224,413

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 P.L.C.

INTERIM RESULTS

FOR 6 MONTHS ENDED 31 AUGUST 2011

Cash Flow Statement

6 Months Ended

6 Months Ended

Year Ended

31 August 2011

31 August 2010

28 February 2011

(Unaudited) GBP

(Unaudited) GBP

(Audited) GBP

£

 £

 £

Net Cash inflow/(outflow) from Operating Activities

Operating (Loss)

(167,284)

(223,740)

(417,239)

Depreciation of Tangible & Intangible Assets

47,879

84,705

116,674

(Increase)/Decrease in Debtors

31,924

(7,492)

(9,651)

(Decrease)/Increase in Creditors

90,506

105,629

(9,832)

Decrease/(Increase) in stock

-

(6,918)

28,257

Net Effect of Foreign Exchange Differences

-

52,100

22,055

3,025

4,284

(269,736)

Returns on Investment & Servicing of Finance

Interest Received

-

57

72

Capital Expenditure

Payments to Acquire Tangible Fixed Assets

-

-

-

Payments to Acquire Intangible Fixed Assets

-

-

-

Net Cash inflow/(outflow) before management

of Liquid Resources & Financing

3,025

4,341

(269,664)

Financing -

Increase/(Decrease) in Cash& Cash Equivalents

during the period

3,025

4,341

(269,664)

 

 

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