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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Hot Rocks Investments plc | AQSE:HRIP | Aquis Stock Exchange | Ordinary Share | GB00B1WV3198 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.35 | 0.20 | 0.50 | 0.35 | 0.35 | 0.35 | 0.00 | 06:55:41 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
Hot Features
Premium
TIDMHRIP
4 January 2016
HOT ROCKS INVESTMENTS PLC
("Hot Rocks" or the "Company")
UNAUDITED INTERIM FINANCIAL INFORMATION FOR THE PERIOD ENDED 30 SEPTEMBER 2015
CHAIRMAN'S STATEMENT
I hereby present the interim results for the Company for the six months ended
30 September 2015.
The Company is an active investor in junior natural resources companies. The
difficult market conditions for the commodities sector have continued during
and post this interim stage.
The Company made a total comprehensive loss of GBP394 for the period, compared to
a loss of GBP360,266 for the same period last year. The Company will not be
paying a dividend.
Cash at bank as at 30 September 2015 was GBP13,603 (31 March 2015: GBP39,984).
During the period, Elephant Oil Limited an oil exploration company with a focus
on West Africa raised further capital at 25.3p per share from AIM-traded Red
Rock Resources plc and in turn subscribed for some equity in Red Rock. We hold
1,977,272 ordinary shares in Elephant Oil.
Taoudeni Resources Limited, of which we are co-founder, acquired the Asheba
gold exploration project from AIM-traded Hummingbird Resources ("HUM") on 30
June 2015. HUM had previously acquired the Asheba Project from Gold Fields as
part of the acquisition of their Yanfolila Gold Project. Based on historical
estimates from Gold Fields, Asheba has an estimated gold inventory of 176,000oz
gold @ 1.8g/t. Taoudeni is focused on exploration in West Africa on the world
class Birimian Belts in Ghana (gold) and the highly prospective Taoudeni Basin
in Mauritania (copper). Taoudeni has a lean, cost effective corporate
structure, an experienced management team encompassing strong technical and
capital markets experience and is building a strong portfolio with near term
value triggers. Taoudeni focuses on projects with a high degree of geological
prospectivity that can be explored in a cost effective manner to rapidly build
value for shareholders and partners with potential for realisation.
Following the period end, Upland Resources Limited in which we hold 3.86million
shares was admitted to the main market by way of a Standard Listing. They are
trading at a 25% premium to our entry level.
We hold stakes in the following entities:
Brazil Tungsten Holdings Limited
Copper Bay plc
Elephant Oil Limited
Global Exergy Ltd / Global Exergy Company
Goldcrest Resources plc
Impact Oil & Gas Limited
Mafula Energy Limited
MedGold Resources Corp
Minergy Limited
New Horizon Oil & Gas Limited (trading as T5)
Onzima Ventures plc
Prospex Oil & Gas plc
Rift Resources Limited
Taoudeni Resources Limited
Royal Road Minerals Limited (formerly Tigris Resources Limited)
Upland Resources Limited
Brian Rowbotham
Non-Executive Chairman
HOT ROCKS INVESTMENTS PLC CONDENSED STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 30 SEPTEMBER 2015
6 months 6 months
To To
30 September 30 September
2015 2014
Unaudited Unaudited
Continuing operations GBP GBP
Revenue -
Operating expenses (33,081) (48,798)
Impairment of available-for-sale financial - (316,277)
asset
Other gains 37,521 5,634
_______ _______
Profit/(Loss) from operations 4,440 (359,441)
Interest payable - (13)
Interest receivable 1,548 1,917
_______ _______
Profit/(Loss) before taxation 5,988 (357,537)
Income tax expense - (16,417)
_______ _______
Profit/(Loss) for the period 5,988 (373,954)
_______ _______
Other comprehensive income
Reclassification of cumulative gains on (6,382) (5,846)
available-for-sale financial asset due to
disposals
Fair value gains/(losses) on - 19,534
available-for-sale financial assets
_______ _______
Total comprehensive income/(loss) for the (394) (360,266)
period
_______ _______
Earnings per share - (0.21)p
_______ _______
HOT ROCKS INVESTMENTS PLC CONDENSED STATEMENT OF
FINANCIAL POSITION
AS AT 30 SEPTEMBER 2015
As at As at
30 September 31 March
2015 2015
Unaudited Audited
Assets
GBP GBP
Non-current assets
Available for sale financial assets 773,701 780,083
_______ _______
773,701 780,083
_______ _______
Current assets
Other receivables 67,952 25,172
Cash and cash equivalents 13,603 39,984
_______ _______
81,555 65,156
_______ _______
Total assets 855,256 845,239
_______ _______
Equity and liabilities
Equity
Called up share capital 173,602 173,602
Share premium account 1,174,631 1,174,631
Shares to be issued under warrants 29,738 29,738
Other reserves 57,110 57,110
Retained loss (688,945) (688,551)
________ ________
746,136 746,530
_______ _______
Current liabilities
Trade and other payables 109,120 98,709
_______ _______
Total equity and liabilities 855,256 845,239
_______ _______
HOT ROCKS INVESTMENTS PLC CONDENSED
CASH FLOW STATEMENT
FOR THE PERIOD ENDED 30 SEPTEMBER 2015
6 months to 6 months to
30 September 30 September
2015 2014
Unaudited Unaudited
GBP GBP
Cash flows from operating activities
Operating profit/(loss) (394) (357,537)
Adjustments:
Impairment of available-for-sale financial assets - 316,277
Gains on disposal of available-for-sale financial 6,382 (5,634)
assets - 5,386
Foreign exchange differences (1,548) (1,917)
Finance income
Movements in working capital:
(Increase)/decrease in trade and other receivables (42,780) (1,475)
Increase/(decrease) in trade and other payables 10,411 24,132
_______ _______
Net cash used in operating activities (27,925) (20,768)
_______ _______
Cash flows from investing activities
Purchases of available-for-sale financial assets - (188,836)
Proceeds from disposal of available-for-sale financial - 89,442
assets
Loans issued to related parties - (5,000)
________ ________
Net cash used in investing activities - (104,394)
(MORE TO FOLLOW) Dow Jones Newswires
January 04, 2016 02:00 ET (07:00 GMT)
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