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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Natasa Min | LSE:NSN | London | Ordinary Share | KYG6395A1004 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 31.75 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMNSN
RNS Number : 4739S
Natasa Mining Limited
24 September 2014
NATASA MINING LTD
("Natasa Mining" or the "Company")
Condensed consolidated interim financial statements for the half-year ended 30 June 2014
Directors' Report
The Directors present their report together with the consolidated financial statements for the six months ended 30 June 2014.
The financial report has been presented in United States dollars which is the Group's functional currency.
1. DIRECTORS
Chrisilios Kyriakou, LLB, Executive Chairman
Mr. Kyriakou was appointed the Chief Executive Officer of the Company's predecessor company, Natasa Mining Ltd (inc. in Australia) in 1979, and was appointed to the Board of the Company on 21 April 2010 as Executive Chairman. Mr Kyriakou has been continuously involved in the mining industry and has extensive experience in Australia, Canada, Africa and Mexico. He has been responsible for the development of a number of mines from exploration through to project finance and commissioning.
Charles de Chezelles, MBA, Non-executive Director
Mr. de Chezelles is a highly experienced financial industry expert. Past positions include: Managing Director, Banco Real S.A., London; Executive Director, Credit Suisse-First Boston (CSFB), London; Director, First Boston Europe, London; Vice President, The First Boston Corporation, New York; Corporate Account Executive, Smith Barney, New York; Investment Analyst, Stralem & Company, New York. He is currently Managing Director of Damerin Limited, London and Managing Director of Camor Gold SA DMCC, Dubai. Mr de Chezelles sits on the board of several natural resources companies based around the world and financial trusts. He was appointed to the Board on 1 May 2010.
Bill Koutsouras, BA, CA, CFA, Non-executive Director
Mr. Koutsouras is an international mining financier and financial operator for the mining sector. He was Executive Vice President and Chief Financial Officer at Endeavour Financial from 2002 to 2011, a mining-focused merchant bank, where he directed and managed the Endeavour group of companies. Mr. Koutsouras was primarily responsible for investment activities, financial operations and financial advisory mandates where he was involved in over $25 billion of M&A transactions and in excess of $4 billion of financing for junior / mid tier resource companies. He is the principal of Kouts Capital, a strategic advisory and consultancy company to natural resource companies. Mr. Koutsouras sits on several corporate boards of natural resource companies. He is a Chartered Accountant and Chartered Financial Analyst and is a member of the Canadian Institute of Chartered Accountants and the CFA Institute. He was appointed to the Board on 22 February 2012.
Ian H. Mann, HBA, Non-executive Director
Mr. Mann has been the President of Meridian Fund Managers Ltd since 2003, a BVI registered fund manager with two alternative investment funds primarily investing in mining and oil and gas companies. Prior to that, Mr. Mann held senior management and partner positions with several Bermuda companies since returning in 1980 with an Honours Business Administration degree from The University of Western Ontario in London, Canada. Since 1997, he has served as a non-executive Director of a number of Canadian exchange listed mining companies, three of which have now merged into other entities, and currently serves as a non-executive director of Tango Gold Mines, a TSX-V listed gold exploration company operating in Nicaragua. He was appointed to the Board on 1 February 2011.
Jonathan R. Reynolds B.Com (Hons), CA, F Fin, Finance Director
Mr. Reynolds has been the Chief Financial Officer of the Company and its predecessor company since 2001. Prior to that he held the position of chief financial officer with a number of other listed entities and before that was a senior manager with an international firm of chartered accountants. He is a member of the Institute of Chartered Accountants in Australia, a fellow of the Financial Services Institute of Australasia and holds a Bachelor of Commerce (Honours) degree. He was appointed to the Board on 21 April 2010.
Company Secretary
Mr John B. Maguire, Company Secretary, has held this position and been involved with the Group for the past 23 years.
2. CONSOLIDATED RESULTS AND REVIEW OF OPERATIONS
The net loss after tax of the Group attributable to members for the six months ended 30 June 2014 was $1,330,235 (2013: $2,627,172).
During the period, the Group:
-- Purchased various equity securities at a cost of $11.6 million.
-- Sold various equity securities realising proceeds of $0.3 million and a net profit on disposal of $0.1 million.
-- Advanced $0.3 million to UMC Energy Corporation, its associate in which it holds a 41.3% equity interest. The funds were used for general working capital. As the time-frame for recovery of the loan funds is not certain, the full amount of funds advanced to UMC Energy has been impaired in the half-year accounts. In addition, the Group recognised a loss of $0.5 million being its equity accounted share of the loss incurred by UMC Energy over the half-year.
-- Recovered loans advanced to other entities of $1.9 million.
-- Recognised an increment from the change in fair value of its holding of available for sale financial assets of $1.7 million.
-- Purchased 1,100,000 of its own shares into Treasury at a cost of $0.7 million. -- Generated dividend and interest income of $0.3 million.
Fox Creek Coal Project, Canada (direct interest 100%) During the period under review, licence fees amounting to $0.1 million have been capitalised to the intangible asset. As previously reported a Competent Person's Report (CPR) reported in compliance with Canadian NI 43-101 requirements showed that the Fox Creek leases contain a measured, indicated and inferred thermal coal resource of 1.4 billion tonnes, of which 1.05 billion tonnes are measured and indicated, as follows:
Hot Features
Premium
Fox Creek Sub-bituminous C
Resources as of 31 July 2013 '000
Tonnes
Measured 431,073
Indicated 622,621
----------
Total Measured and Indicated 1,053,694
----------
Inferred 503,269
PNG Petroleum Project, Papua New Guinea (indirect interest 12.4%) UMC Energy Corporation (UMC Energy), in which the Group holds a 41.34% equity interest, holds a 30% equity interest in the PNG Energy Group, with CNOOC, the Chinese State Owned Enterprise, holding the remaining 70% equity interest. The PNG Energy Group holds two onshore (PPL378 and PPL405) and two offshore (PPL374 and PPL375) Petroleum Prospecting Licences (PPLs) in Papua New Guinea (PNG). All exploration costs are funded by CNOOC by way of a non-recourse loan to the PNG Energy Group.
PPL 378 onshore
The two blocks (western and eastern) of PPL 378 are located in the Central Highlands of the Papua Fold Belt. The Western Block is situated close to existing producing and processing facilities of the Moran and Agogo oil and gas fields. The main gas pipeline connecting Hides to ExxonMobil's newly operational LNG plant at Port Moresby transects the block.
The western block contains the Paua-1X oil discovery drilled by BP in 1996. Oil was recovered from RFT wireline tests from two sandstone reservoir sequences in the Iagifu Formation. Some 37 m of net oil pay is interpreted in 5 layers in separate Upper and Lower Iagifu reservoirs.
Contingent oil and gas resources in the Iagifu assessed by 3D-GEO Pty Limited (3D-GEO), and reported in their Competent Person's Report (CPR) on 5 August 2013 in accordance with the definitions and guidelines set out in the Petroleum Resources Management System (PRMS) are as follows:
All values GROSS CONTINGENT RESOURCES NET ATTRIBUTABLE CONTINGENT Chance in MMbbls* WITHIN PPL378 West: Paua RESOURCES TO UMC ENERGY: of Success or Bcf* Iagifu Sands Paua Iagifu Sands (%) -------------- ------------------------------------------- ------------------------------------------- ------------ PPL 378 W Low Estimate Best High Low Estimate Best High Operator: 1C Estimate Estimate 1C Estimate Estimate CNOOC 2C 3C 2C 3C -------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------ Oil Contingent Resource 7.6 25 73 2.3 7.4 39 55 -------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------ Gas Contingent Resource 264 130 56 79 39 17 55 -------------- ------------- ------------- ------------- ------------- ------------- ------------- ------------
*Note: MMbbls = million barrels of recoverable oil, Bcf = billion standard cubic feet of recoverable gas
The overlying Digimu and Toro sandstones were water-wet at Paua-1X (wireline log evaluation suggests the presence of residual hydrocarbon saturation at the well). Significant additional potential for oil and gas is present on the back-limb of the Paua Anticline within structural closure, up-dip from the well to the north-east, as previously reported in the CPR.
CNOOC has undertaken significant technical work during the half-year to better define the Paua structure. This work included additional reprocessing of the 2D seismic lines across the structure tying into wells on the Moran Field. Remapping of the new data indicates the presence of significant structural closure up-dip from Paua-1X to the NE. The structural high is co-incident with the surface anticline defined by surface geology and topography. This mapping supports volumetric oil and gas estimates made by 3D-GEO in the CPR and suggests that Paua is a robust structure of a sufficient size and commercial potential to warrant appraisal drilling. CNOOC's internal experts continue their well planning for Paua-2X, presently expected to be drilled in late 2015.
PPL 405 onshore
PPL 405 is also located in the Central Highlands region of PNG east of PPL 378. Technical evaluation of the licence was completed in the first half of 2014. Owing to delays in collecting critical well and seismic data, the work program in this licence (requiring the drilling of one exploration well) was not completed by 8 May 2014, the end of the first two year licence term. The PNG Government has been approached by CNOOC, as the Operator, seeking a variation to the work program commitments for this licence, with the variation yet to be approved.
The technical study indicated low potential and high exploration risk across most of the licence. However significant potential was identified at Lead D, a large surface anticline situated in the westernmost part of the licence. Additional potential was seen across the more complicated Wara Deep in the same part of the licence. However both structures are presently defined by single 2D seismic lines and will require additional seismic prior to drilling. The country over both Leads is extremely rugged and will require a major operational effort for seismic acquisition.
PPL 374 and PPL 375 offshore
PPLs 374 and 375 are contiguous licences located offshore in deep water in the Gulf of Papua. CNOOC successfully completed seismic acquisition of some 3,015 line kilometres of 2D data in early January 2014. Processing of the 2D data has been completed and is currently undergoing final QC prior to acceptance.
Seismic data quality is reported to be very good and described as a significant improvement over earlier 2D survey data in the area.
The deep half-graben and adjacent horst structural geology of the region is particularly well defined. The presence of the half-grabens in the licence areas is particularly important as they are deep enough and large enough for significant source rock potential, for either or both gas and oil to be possibly present in commercial quantities.
3. SUBSEQUENT EVENTS
Since 1 July 2014, the Group has sold various equity securities realising proceeds of $0.4 million and a net profit on disposal of $0.2 million.
Other than the matter discussed above, there has not arisen in the interval between the end of the half-year and the date of this report any item, transaction or event of a material and unusual nature likely, in the opinion of the Directors of the Company, to affect significantly the operations of the consolidated entity, the results of those operations or the state of affairs of the consolidated entity, in subsequent financial years.
Dated this 24(th) day of September 2014 and signed in accordance with a resolution of the Directors.
C. Kyriakou
Director
Condensed Consolidated Interim Income Statement
for the six months ended 30 June 2014
30 June 30 June
2014 2013
Unaudited Unaudited
$ $
Total revenue from services - -
Gain on sale of equity instruments 119,760 229,791
Gain on disposal of interest in
associate - 591,326
Financial income 338,087 447,535
Personnel expenses (525,676) (551,199)
Audit fees (39,150) (33,906)
Depreciation and amortisation (1,939) (1,621)
Finance expenses (2,739) (15,030)
Foreign exchange loss (3,834) (270,810)
Impairment losses on other financial
assets - (1,109,917)
Impairment losses on intangibles - (106,250)
Impairment losses on receivables
from equity accounted investees (287,550) (740,750)
Legal fees (39,413) (33,231)
Travel expenses (114,772) (70,942)
Other administrative expenses (254,799) (226,770)
Result from operating activities (812,025) (1,891,774)
Share of net result of associates (518,210) (735,398)
Loss before tax (1,330,235) (2,627,172)
Income tax expense - -
Loss for the period (1,330,235) (2,627,172)
Attributable to:
Equity holders of the Company (1,330,235) (2,627,172)
Cents Cents
Basic loss per share (4.5) (9.0)
Diluted loss per share (4.5) (9.0)
The above Condensed Consolidated Interim Income Statement should
be read in conjunction with the accompanying notes.
Condensed Consolidated Interim Statement of Comprehensive Income
for the six months ended 30 June 2014
30 June 30 June
2014 2013
Unaudited Unaudited
$ $
Loss for the period (1,330,235) (2,627,172)
Foreign exchange movement 12,679 (296,100)
Net change in fair value of available
for sale financial assets 1,631,607 (94,340)
Net change in fair value of available
for sale financial assets reclassified
to the income statement 51,907 94,697
Total comprehensive income /
(loss) for the period 365,958 (2,922,915)
Attributable to:
Equity holders of the Company 365,958 (2,922,915)
The above Condensed Consolidated Interim Statement of Comprehensive
Income should be read in conjunction with the accompanying notes.
Condensed Consolidated Statement of Financial Position
as at 30 June 2014
Note 30 June 30 June 31 December
2014 2013 2013
Unaudited Unaudited Audited
$ $ $
ASSETS
Current Assets
Cash and cash
equivalents - - 6,496,447
Trade and other
receivables 4 320,111 1,843,941 2,081,637
Total Current Assets 320,111 1,843,941 8,578,084
Non-Current Assets
Investments in
equity
accounted
investees 5,449,327 6,192,832 5,967,536
Exploration and
evaluation
expenditure -
intangible 5 5,625,369 5,418,624 5,473,086
Other financial
assets 32,244,192 27,514,604 19,181,666
Plant and equipment 3,431 7,329 5,367
Total Non-Current
Assets 43,322,319 39,133,389 30,627,655
Total Assets 43,642,430 40,977,330 39,205,739
LIABILITIES
Current Liabilities
Trade and other
payables 6 4,907,723 2,002,566 114,367
Total Current
Liabilities 4,907,723 2,002,566 114,367
Total Liabilities 4,907,723 2,002,566 114,367
NET ASSETS 38,734,707 38,974,764 39,091,372
EQUITY
Share capital 8 30,264,484 30,987,107 30,987,107
Reserves 5,841,996 3,462,164 4,145,803
Retained earnings 2,628,227 4,525,493 3,958,462
Total equity
attributable
to equity holders
of
the Company 38,734,707 38,974,764 39,091,372
The interim results were approved by the Board on 24 September
2014 and signed on its behalf by:
C. Kyriakou
The above Condensed Consolidated Interim Statement of Financial
Position should be read in conjunction with the accompanying
notes.
Condensed Consolidated Statement of Changes in Equity
as at 30 June 2014
2014
Share Foreign
Fair based payments currency
Share value reserve translation Retained Total
capital reserve reserve Earnings equity
$ $ $ $ $ $
------------- ------------ ---------------- ------------- -------------- -------------
Balance at 1 January
2014 30,987,107 3,344,298 57,000 744,505 3,958,462 39,091,372
Total comprehensive
income / (loss) for
the period
Loss - - - - (1,330,235) (1,330,235)
Total other
comprehensive
income / (expense) - 1,683,514 - 12,679 - 1,696,193
------------- ------------ ---------------- ------------- -------------- -------------
Total comprehensive
income / (loss) for
the period - 1,683,514 - 12,679 (1,330,235) 365,958
------------- ------------ ---------------- ------------- -------------- -------------
Transactions with
owners,
recorded directly in
equity
Contributions by owners
Shares purchased into
Treasury (722,623) - - - - (722,623)
------------- ------------ ---------------- ------------- -------------- -------------
Total contributions
by owners (722,623) - - - - (722,623)
------------- ------------ ---------------- ------------- -------------- -------------
Total transactions with
owners (722,623) - - - - (722,623)
------------- ------------ ---------------- ------------- -------------- -------------
Balance at 30 June
2014 30,264,484 5,027,812 57,000 757,184 2,628,227 38,734,707
------------- ------------ ---------------- ------------- -------------- -------------
The above Condensed Consolidated Interim Statement of Changes in Equity should be read
in conjunction with the accompanying notes.
Condensed Consolidated Statement of Changes in Equity
as at 30 June 2014
2013
Share Foreign
Fair based payments currency
Share value reserve translation Retained Total
capital reserve reserve Earnings equity
$ $ $ $ $ $
------------- ------------ ---------------- ------------- -------------- --------------
Balance at 1 January
2013 31,215,939 2,615,669 57,000 1,085,238 7,152,665 42,126,511
Total comprehensive
income / (loss) for
the period
Loss - - - - (2,627,172) (2,627,172)
Total other
comprehensive
income / (expense) - 357 - (296,100) - (295,743)
------------- ------------ ---------------- ------------- -------------- --------------
Total comprehensive
income / (loss) for
the period - 357 - (296,100) (2,627,172) (2,922,915)
------------- ------------ ---------------- ------------- -------------- --------------
Transactions with
owners,
recorded directly in
equity
Contributions by owners
Shares purchased into
Treasury (228,832) - - - - (228,832)
------------- ------------ ---------------- ------------- -------------- --------------
Total contributions
by owners (228,832) - - - - (228,832)
------------- ------------ ---------------- ------------- -------------- --------------
Total transactions with
owners (228,832) - - - - (228,832)
------------- ------------ ---------------- ------------- -------------- --------------
Balance at 30 June
2013 30,987,107 2,616,026 57,000 789,138 4,525,493 38,974,764
------------- ------------ ---------------- ------------- -------------- --------------
The above Condensed Consolidated Interim Statement of Changes in Equity should be read
in conjunction with the accompanying notes.
Condensed Consolidated Interim Statement of Cash Flows
for the six months ended 30 June 2014
30 June 30 June
2014 2013
Unaudited Unaudited
$ $
Cash Flows Used In Operating Activities
Cash payments in the course of operations (833,362) (964,654)
Net cash used in operating activities (833,362) (964,654)
Cash Flows (Used In) / Generated By Investing
Activities
Financial income received 463,487 447,535
Loan to associates (287,550) (740,750)
Proceeds on sale of interest in associate - 876,446
Loan to other entities - (821,424)
Loan to other entities recovered 1,938,656 806,810
Purchase of equity instruments (11,595,177) (1,233,233)
Proceeds on sale of equity instruments 26,438 1,660,006
Payments for purchases of intangibles (135,708) -
Payments for purchases of plant and equipment - (1,908)
Net cash (used in) / generated by investing
activities (9,589,854) 993,482
Cash Flows Used In Financing Activities
Shares purchased into Treasury (722,623) (228,832)
Interest paid (2,739) (15,030)
Net cash used in financing activities (725,362) (243,862)
Net decrease in cash and cash equivalents (11,148,578) (215,034)
Cash at 1 January 6,496,447 -
Bank overdrafts used for cash management
purposes at 1 January - (1,557,732)
(4,652,131) (1,772,766)
Bank overdrafts used for cash management
purposes at 30 June 4,652,131 1,772,766
Cash at 30 June - -
The above Condensed Consolidated Interim Statement of Cash Flows should be read
in conjunction with the accompanying notes.
Notes to the condensed consolidated interim financial statements
1. Reporting entity
Natasa Mining Ltd (the "Company") is a company incorporated in
the Cayman Islands. The condensed consolidated interim financial
statements of the Company as at and for the six months ended
30 June 2014 comprises the Company and its subsidiaries (together
referred to as the "Group") and the Group's interests in associates
and jointly controlled entities.
The financial report is presented in United States dollars which
is the Group's functional currency.
The consolidated annual financial report of the Group as at and
for the year ended 31 December 2013 is available at www.natasamining.com.
2. Statement of compliance
The condensed consolidated interim financial statements have
been prepared in accordance with International Accounting Standard
34 "Interim Financial Reporting".
The condensed consolidated interim financial statements do not
include all of the information required for full annual financial
statements, and should be read in conjunction with the consolidated
annual financial statements of the Group as at and for the year
ended 31 December 2013.
The annual financial statements have been prepared in accordance
with International Financial Reporting Standards (IFRSs) as adopted
by the European Union.
These condensed consolidated interim financial statements were
approved by the Board of Directors on 24 September 2014.
3. Significant accounting policies
The accounting policies applied by the Group in these condensed
consolidated financial statements are the same as those applied
by the Group in its consolidated financial statements as at and
for the year ended 31 December 2013.
4. Trade and other receivables
30 June 30 June 31 December
2014 2013 2013
$ $ $
Current
Loan to third party - 1,717,448 2,064,056
Other debtors 320,111 126,493 17,581
320,111 1,843,941 2,081,637
5. Exploration and evaluation expenditure - intangible
30 June 30 June 31 December
2014 2013 2013
$ $ $
Opening balance 5,473,086 5,822,066 5,822,066
Additions at fair value 135,708 - 244,761
Impairment - (106,250) (194,816)
Foreign exchange variation 16,575 (297,192) (398,925)
Balance at 30 June 5,625,369 5,418,624 5,473,086
Critical accounting judgements in applying the Group's accounting
policies
The Fox Creek coal project has yet to reach a stage of development
where a determination of the technical feasibility or commercial
viability can be assessed. In these circumstances, whether
there is any indication that the asset has been impaired is
a matter of judgement, as is the determination of the quantum
of any required impairment adjustment. The Directors have used
their experience to conclude that no impairment adjustment
is required in the current period.
In 2012, the Company committed to invest $500,000 in a series
of oil and gas exploration projects in California, of which
$100,184 remains to be invested. An impairment adjustment of
$nil (2013 : $106,250) has been recognised in relation to unsuccessful
projects, bringing the total impaired amount to $379,816.
6. Trade and other payables
30 June 30 June 31 December
2014 2013 2013
$ $ $
Current
Bank overdraft 4,652,131 1,772,766 -
Non-trade payables and accruals 255,592 229,800 114,367
4,907,723 2,002,566 114,367
7. Commitments and contingent liabilities
In 2013, the Company entered a loan facility arrangement with
its associate, UMC Energy, whereunder the Company will make
available to UMC Energy a loan facility of not less than GBP1.7
million for the period up to 31 January 2015 at a rate of interest
of 15 per cent. p.a. compounded annually and a fee of 3 per
cent. of amounts drawn down capitalised with the loan and repayment
on 60 days notice provided that such notice cannot be given
prior to 31 January 2015 or earlier on the occurrence of an
event of default (which would include the Company not having
two representatives on the board of UMC Energy).
The Group has no commitments for capital or revenue purchases,
other than in the ordinary course of business.
The Group has no commitments under non-cancellable leases.
The Group has no contingent liabilities.
8. Share capital
30 June 30 June 31 December
2014 2013 2013
Issued and paid up capital $ $ $
Ordinary shares, fully paid 31,488,938 31,488,938 31,488,938
Less : shares held in Treasury (1,224,454) (501,831) (501,831)
30,264,484 30,987,107 30,987,107
Reconciliation of issued capital
30 June 30 June 31 December
2014 2013 2013
Number Number Number
Balance at beginning of half-year 29,241,951 29,241,951 29,241,951
Changes in the period - - -
Balance at 30 June 29,241,951 29,241,951 29,241,951
Shares held in Treasury
Balance at beginning of half-year 378,000 195,000 195,000
Shares purchased into Treasury 1,100,000 183,000 183,000
Balance at 30 June 1,478,000 378,000 378,000
9. Operating segments
The Group has one reportable segment, as described below, which
represents the Group's strategic business unit. The strategic
business unit is that of investment in mineral exploration and
development projects and companies. The Board of Directors reviews
internal management reports at least monthly. Information regarding
the results of the reportable segments is included below. Performance
is measured based on the segment profit before income tax as
included in the internal management reports that are reviewed
by the Board of Directors. There is no inter-segment pricing.
Information about reportable segments 30 June 30 June
2014 2013
$ $
External revenue - -
Gain on sale of equity instruments 119,760 229,791
Gain on disposal of interest in associate - 591,326
Financial income 338,087 447,535
Depreciation and amortisation (1,939) (1,621)
Reportable segment loss before income tax (1,330,235) (2,627,172)
Share of loss of equity method investees (518,210) (735,398)
Reportable segment assets 43,642,430 40,977,330
Capital expenditure 135,708 -
Geographical segments The segment is managed on a worldwide basis.
Individual assets are located in various countries. In presenting
information on the basis of geographical segments, segment assets
are based on the geographical location of the assets.
Non-current assets
30 June 30 June
2014 2013
$ $
Australia 4,958,421 3,462,156
Asia 532,942 393,451
Europe 17,282,745 16,617,920
North America 20,548,211 18,659,862
Total 43,322,319 39,133,389
The Group did not generate any revenue during the financial period ended 30 June 2014 (2013: $nil).
10. Post balance sheet events
Since 1 July 2014, the Group has sold various equity securities
realising proceeds of $0.4 million and a net profit on disposal
of $0.2 million.
11. Availability of accounts
Copies of this interim financial information will be made available on the Company's website www.natasamining.com
Enquiries:
Natasa Mining Ltd Chrisilios Kyriakou, Chairman +44(0) 20 7290 3102 Strand Hanson Limited Angela Hallett / James Spinney +44 (0) 20 7409 3494
This information is provided by RNS
The company news service from the London Stock Exchange
END
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