9th Nov 2011 17:16
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) | ||||||
Related Shares:
NBR.L