Circassia Share Discussion Threads

[miamigo] 28/9/2005 17:08

Anyone still interested in this pile of poo may like to read the interims:


Capricorn Resources PLC
28 September 2005

Capricorn Resources Plc: CIR / Index: AIM / Sector: Mining & Exploration



CAPRICORN RESOURCES PLC
INTERIM RESULTS

Capricorn Resources Plc ('Capricorn' or 'the Company'), the AIM listed mining
and exploration company, announces its results for the six-months ended 30 June
2005.

CHAIRMAN'S STATEMENT

Since the last report to shareholders, the Board structure at the Company has
changed which has lead to a shift in strategy. Therefore, although the reporting
period was not under my direct stewardship, I thought this was a good
opportunity to reiterate to shareholders the changes and outline my plans for
the future.

I assumed the role of executive chairman in place of Phil Edmonds, who stepped
down on 15 July 2005. I acquired 8,000,000 ordinary shares from other
directors, comprising 4,000,000 from Mr Edmonds and 4,000,000 from Andrew
Groves, and as a result I now hold 10,000,000 ordinary shares (15%) in the
Company. Mr Edmonds maintains an interest in 2,500,000 ordinary shares (3.8%)
while Mr Groves no longer has a shareholding and has stepped down from the
Board.

In August 2005 we appointed John Stuttaford as a Non-Executive Director. Mr
Stuttaford, a Chartered Secretary, has worked extensively with growth companies
and currently operates MSP Secretaries Limited, a UK corporate secretarial
service company. He brings with him a wide variety of expertise and experience
which I am confident will prove invaluable for the future development of the
Company.

As previously stated in the announcement dated 15 July 2005, I am examining a
number of possible resource based acquisitions for Capricorn in Southern Africa.
This is likely to comprise a reverse takeover. I remain committed to this
strategy and when the right deal is secured I will update the market
accordingly.

On stepping down as Chairman, Mr Edmonds pledged his and Mr Groves' ongoing
support to the Company. He gave full backing to my appointment as he believed
it would best serve the interests of the shareholders, especially as the deal
that he was trying to complete had unfortunately not crystallised.

For the period ending 30 June 2005 we are reporting a pre and post tax loss of
£73,349 and no dividend is to be paid. We have kept expenditure to a minimum
and our current cash position remains healthy.

Finally, I'd like to thank our staff for their efforts and our shareholders for
their continued support and I hope I can reward them by finding a suitable
project for Capricorn.

Brian Moritz
Chairman
28 September 2005


CAPRICORN RESOURCES PLC

UNAUDITED PROFIT AND LOSS ACCOUNT
For the six months ended 30 June 2005
SIX MONTHS ENDED SIX MONTHS ENDED YEAR ENDED
30 JUNE 2005 30 JUNE 2004 31 DECEMBER 2004
£ £ £

TURNOVER - - -
Net operating expenses (73,438) (103,881) (175,594)

OPERATING LOSS (73,438) (103,881) (175,594)

Interest receivable 89 414 483

Loss on ordinary activities before taxation (73,349) (103,467) (175,111)
Taxation - - -

LOSS ON ORDINARY ACTIVITIES AFTER TAXATION (73,349) (103,467) (175,111)
LOSS PER SHARE

Basic and diluted (0.11p) (0.16p) (0.27p)


UNAUDITED BALANCE SHEET
As at 30 June 2005
30 JUNE 30 JUNE 31 DECEMBER
2005 2004 2004
£ £ £

FIXED ASSETS 2,309 4,856 3,158

CURRENT ASSETS
Debtors 31,939 88,157 26,368
Cash at bank and in hand 254,917 286,623 294,263

286,856 374,780 320,631
CREDITORS: Amounts following due within one
year (73,504) (31,237) (46,033)


NET CURRENT ASSETS 213,352 343,543 274,598

NET ASSETS 215,661 348,399 277,756

CAPITAL AND RESERVES
Called up share capital 66,575 65,349 65,449
Share premium account 491,867 479,613 480,614
Other reserves 57,126 58,351 58,251
Profit and loss account (399,907) (254,914) (326,558)

EQUITY SHAREHOLDERS' FUNDS 215,661 348,399 277,756



UNAUDITED CASH FLOW STATEMENT
For the six months ended 30 June 2005
SIX MONTHS ENDED SIX MONTHS ENDED YEAR ENDED
30 JUNE 2005 30 JUNE 2004 31 DECEMBER 2004
£ £ £

Cash outflow from operating activities (50,689) (210,678) (204,108)

Returns on investments and servicing of
finance 89 414 483

Capital expenditure and financial investment - (920) (920)

CASH OUTFLOW BEFORE FINANCING (50,600) (211,184) (204,545)

Financing 11,254 85,200 86,201

(DECREASE) IN CASH IN THE PERIOD (39,346) (125,984) (118,344)

Reconciliation of Net Cash Flow to Movement
in Net Funds

(Decrease) in cash in the period (39,346) (125,984) (118,344)

Net funds at beginning of period 294,263 412,607 412,607

Net funds at end of period 254,917 286,623 294,263



1. The financial information contained in this unaudited interim report does not
constitute statutory accounts as defined in section 240 of the Company Act
1985.
2. Basic and diluted loss per share is calculated by reference to the loss after
taxation and the weighted average number of shares in issue during the
period of 65,893,167 (six months to 30 June 2004 - 64,243,344 : year ended
31 December 2004 - 64,855,150). Due to the loss in the period, there is no
dilutive effect from the issue of share options and warrants.


* * E N D S * *

Contacts:

Brian Moritz Capricorn Resources Plc Tel: [phone]
Hugo de Salis St Brides Media & Finance Ltd Tel: [phone]


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

[pork belly] 17/8/2005 09:54

its still a pile of very overvalued poo until rumours circulate re: company reversing into it.

true value = 0.25p - 0.5p currently.

[miamigo] 17/8/2005 09:51

Capricorn Resources PLC
17 August 2005

Capricorn Resources Plc: CIR / Index: AIM / Sector: Mining & Exploration


Capricorn Resources Plc
Appointment of New Non-Executive Director


Capricorn Resources plc ('Capricorn' or 'the Company'), the AIM listed mining
and exploration company, has appointed John Stuttaford as a Non-Executive
Director with immediate effect. He replaces Andrew Groves who has stepped down
from the Board.


John Stuttaford has many years experience in the City working extensively with
growth companies. He is a Chartered Secretary who owns and operates MSP
Secretaries Limited, a leading UK corporate secretarial service company. Its
subsidiary, Share Registrars Limited, is a fast-growing registrar for AIM
companies.


Capricorn Chairman, Brian Moritz, said: 'It is a great pleasure to welcome John
to the Board. His experience of management and organisation of smaller
companies will prove invaluable for the future development of the Company. I
have worked closely with Andrew Groves for several years and although he has
stepped down from the Board, I look forward to continuing our good relationship
going forward, especially in evaluating projects when necessary.'


John Cyril Stuttaford, aged 71, is or has been a director of the following
companies during the previous five years:


Current directorships Past directorships
Cargil Management Services Limited None
Farnham Properties Limited
Lea Yate Limited
Melton Registrars Limited
MSP Secretaries Limited
Share Registrars Limited



There is no further information required to be disclosed pursuant to Schedule
Two paragraph (g) of the AIM Rules.



* * E N D S * *



Contacts:

Brian Moritz Capricorn Resources plc Tel: [phone]
Isabel Crossley/Hugo de Salis St Brides Media & Finance Ltd Tel: [phone]


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

[r33skyline] 26/7/2005 02:14

Cynical1

Well if there are any left at 0.25 count me in ,sold at 3p as well ...

[thecynical1] 26/7/2005 02:10

hi super.....change of heart....you mean change of holding ??? ; ) so...what is your position now? you thinking of getting back in? or are you waiting to get back in once the price is around or under a penny ??? I wonder would Mr Moritz like to sell us some of his millions of shares in an "off-market" transaction....? this could get very interesting if he has something up his sleeve...jmo.

[superflyer] 23/7/2005 20:39

thecynical1 - change of heart my friend...

Nice to see your still hanging out with the big boys.

[trevor1959] 22/7/2005 22:32

Superflyer,

Phil Edmondes is out of CIR, but I agree I wouldn't buy into anymore of his or any cash shells. Sold my CIR holding @3p last month after the WNL suspension fiasco.

[phil2003] 21/7/2005 13:07

am out at 3p.
best of luck all, cash shells and me officially divorced in line with market sentiment.

[caiman] 21/7/2005 11:54

Ash - what's wrong with Numis?? As far as I was aware they have nothing to do with this stock. My list says they are broker to African Copper, Albidon, Ballarat, Bisichi, Cluff Gold, Cons Mins, Euro Diamonds, First Quantum, Jubilee, Patagonia, ZincOx.

Nothing much wrong with that lot.

[pork belly] 21/7/2005 11:13

CIR heading down to their true value of 0.25p - 0.45p. much further to go until rumours return of reverse take-over. directors sold their shares at 0.25p when share price was 3.25/3.75 and they only have cash of 0.45p,no sales and debt.

i'm not shorting (as against it), but just stating the cold/hard facts.

until reverse take-over rumours resurface again, this is only worth 0.25p - 0.45p.

[mr ashley james] 19/7/2005 02:50

Guys, the serious Investor side of the Natural Resource Sector is in play ie Rampers and idiots are being erradicated.

Start getting Serious the Moron Fest is OVER!

Only Real Mining Plays will get financed and Most London Brokers will get closed out knowing nothing about the sector and with books of clients that will not touch them.

Fees great but quite frankly the UK Mining Sector is about to Police itself, ie last years heros are dead meat bluntly.

So if you do not know how to pick a mining stock do not touch it until you do and please leave your ego at home.

There will be loads of litigation now IMHO against the Phil Edmonds, Numis's and Cannacorde's of this world.

I think certain players may end up behind bars in fact to save the sector after 2004.

Naive or realism?

Cheers

Ash:)

[sharecropper] 19/7/2005 02:34

Interesting that there were no big sells, when one would have expected it to have been one of the biggest fallers on the market. The price Moritz bought from Edmunds at does NOT reflect the value of the shares, as has clearly been shown by the market today. He sold them to get rid of them as part of a restructuring, and he wanted out for personal reasons.

[thecynical1] 18/7/2005 16:32

super reckons that "these guys are not silly"...."a deal which has been in the pipeline for months is going to come to fruition"....and that is presumably why Edmunds has sold rather a lot of shares in this at roughly one tenth of the market price....looks to me like a really positive kind of mood from Edmunds....looks to me actually like he either doesn't think much of the deal or he reckons that there is going to be in the near future...but if superflyer reckons it is going to be a magic deal then I guess he knows better than Edmunds...of course he does...someone please......this is too much......

[bots24] 18/7/2005 16:32

Is B.Moritz still a non exec director of WNL ????

[miamigo] 18/7/2005 11:11

Brian Michael Moritz
18 July 2005



FORM SAR 3



DISCLOSURE OF ACQUISITIONS

(Rule 3 of The Rules Governing Substantial Acquisitions of Shares)




Name of acquirer Brian Michael Moritz


Beneficial owner, if different from above


Names of any other persons acting by agreement
or understanding (see SAR 5)


Company dealt in Capricorn Resources plc

Class of voting shares (eg ordinary shares) Ordinary Shares of 0.1p each

Date of acquisition 15 July 2005





Number of shares acquired 8,000,000

Number of rights over shares acquired #

Nature of rights over shares






Total holding of voting shares (and percentage 10,000,000 (15.03%)
of total voting shares in issue)

Total holding of rights over shares (and
percentage of total voting shares in issue)

Combined total holding (and percentage) of 10,000,000 (15.03%)
voting shares and rights over shares







Date of disclosure 18 July 2005

Contact name Brian Moritz

Telephone number 07976 994300




# See the definition of 'rights over shares' in the Definitions Section of the
SARs.



For details of the SARs disclosure requirements, see SARs 3 and 5 and their
Notes which can be viewed on the Takeover Panel's website at

www.thetakeoverpanel.org.uk
.




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

[pork belly] 18/7/2005 09:44

surprised it has stayed up today bearing in mind the directors clearly value this at 0.25p. if they are happy to sell at 0.25p then these are only worth 0.25p, until the reverse take-over happens. until then, cir is pretty worthless.

at last results:

64,855,150 shares in issue
mkt cap: 2.27m (at 3.5p mid)
cash: 0.294m
loss: 0.175m
sales: nil

realistic value is cash only = 0.45p only.
directors sold out at 0.25p.

this should be trading at around 0.25p - 0.45p.
only with a reverse take-over, should we see the likes of 3.5p again.

this is hugely overpriced.

remember, this is a cash shell only,until a reverse take-over occurs.

there is only one possible direction for this to go i'm afraid.

[sharecropper] 18/7/2005 08:18

I further understood E & G and Moritz were not exacly happy campers together, so this could actually be a good thing for the company if it means the management dynamic changes for the better. I am still expecting a selloff today though.

[superflyer] 15/7/2005 22:58

They are selling the shares to him for the price they paid for them, its there choice as share holders..

its got no reflection on the current price... as far as I know 'which is a lot' there is a deal which is in the pipeline for months now and will shortly come to fruition.

Wait and see... these guys are not silly.

[trevor1959] 15/7/2005 22:39

If they meant 2.5p per share I doubt that they would have put a "0" in front.
Looks like a quater penny (farthing) to me.

[r33skyline] 15/7/2005 22:05

Surely they mean 2.5p a share.....Gulp

[shortermer1] 15/7/2005 22:00

So he bought the shares for 0.25p per share??? The market price is 3.5p!!!

Massive markdown on Monday or am I missing something??

Thanks,

ST

[superflyer] 15/7/2005 18:01

Ha ha...

Well thats being in the know!! :-)

Just pure guess work of course..

16, 35, 24, 18, 11, 40

[pork belly] 15/7/2005 17:31

superflyer,

well done on your prediction.

do you have tonights euro lottery numbers ?

cheers, porky