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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Wishbone Gold Plc | LSE:WSBN | London | Ordinary Share | GI000A2PX455 | ORD 0.1P (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.275 | 1.25 | 1.30 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Misc Nonmtl Minrls, Ex Fuels | 0 | -1.14M | -0.0044 | -2.89 | 3.28M |
From Apr 2019 to Apr 2024
TIDMWSBN
RNS Number : 3116J
Wishbone Gold PLC
08 September 2016
8 September 2016
Wishbone Gold Plc
Wishbone Gold Plc / Index: AIM / Epic: WSBN / Sector: Natural Resources
Wishbone Gold PLC ("Wishbone Gold" or the "Company")
Interim Results and Trading Update
Interim Results
Wishbone Gold Plc (the Company) has pleasure in announcing the interim results for the group to 30(th) June 2016. We remind shareholders that these are unaudited and based only on management accounts. The highlights are set out below.
These results include Precious Metals International Ltd and Black Sand FZE for the first time from the acquisition date of 4(th) February 2016.
The Company raised funding for the gold trading to commence at the beginning of June, therefore no gold trading results are included in these results.
Trading Update
Black Sand FZE has now signed supply agreements with companies in Peru, Ghana, Chile and Colombia. It normally takes around three to four months to integrate a company into the supply chain because gold trading is a highly regulated business and in the Wishbone group we are insistent that the entire supply chain complies with OECD guidelines on precious metals trading.
Currently we are shipping gold from Ghana and Peru. We are on track to meet our year end target of shipping 100 kilos per week. In addition the Company has contracts under negotiation for further suppliers in the above and other countries.
Proactive Investors One2One Presentation
Chairman and CEO, Richard Poulden will be presenting at the Proactive Investors One2One Forum at 1900 on the 8th September at the Chesterfield Hotel, Mayfair, London.
ENDS
For further information, please contact:
Wishbone Gold Plc
Richard Poulden, Chairman and CEO Tel: +44 207 812 0645
Allenby Capital
Nick Naylor / Nick Harriss / James Thomas Tel: +44 20 3328 5656
Damson Communications
Hot Features
Premium
Abigail Stuart-Menteth / Amelia Hubert Tel: +44 207 812 0645
Wishbone Gold PLC
Consolidated Income
Statement
for the period from
1 January 2016 to
30 June 2016
Unaudited Unaudited Audited
Six Months Six Months Year Ended
Ended 30 Ended 30 31 December
June 2016 June 2015 2015
$ $ $
Abortive acquisition
costs - (97,997) (195,775)
Administrative expenses (167,762) (361,600) (622,659)
----------- ----------- ------------
Operating loss (167,762) (459,597) (818,434)
Impairment of investments (29,046) - (272,450)
Foreign exchange gain 31,429 - -
Finance cost (19,868) (10,401) (29,227)
Loss on ordinary activities
before taxation (185,247) (469,998) (1,120,111)
Tax on loss on ordinary
activities - - -
Loss for the financial
year (185,247) (469,998) (1,120,111)
=========== =========== ============
Wishbone Gold PLC
Consolidated Statement of Financial Position
as at 30 June 2016
Unaudited Unaudited Audited
Six Months Six Months Year Ended
Ended 30 Ended 30 31 December
June 2016 June 2015 2015
$ $ $
Current assets
Trade and other
receivables 218,376 36,821 16,677
Cash and cash equivalents 417,874 108,134 263,741
----------- ----------- ------------
636,250 144,955 280,418
----------- ----------- ------------
Non-current assets
Intangible assets 421,994 406,901 404,409
Investments 82,381 384,537 91,152
----------- ----------- ------------
504,375 791,438 495,331
----------- ----------- ------------
Total assets 1,140,625 936,393 775,749
=========== =========== ============
Current liabilities 375,896 1,508,294 200,661
Capital and reserves
Share capital 1,128,351 419,146 1,128,351
Share premium 4,569,658 3,671,758 4,569,658
Share based payment
reserve 70,165 74,205 70,165
Accumulated losses (5,496,684) (4,661,324 (5,311,437)
Foreign exchange
reserve 93,239 (75,686) 118,351
----------- ----------- ------------
Total equity and
liabilities 1,140,625 936,393 775,749
=========== =========== ============
Wishbone Gold PLC
Consolidated Statement
of Cash Flows
for the period from
1 January 2016 to
30 June 2016
Unaudited Unaudited Audited
Six Months Six Months Year Ended
Ended 30 Ended 30 31 December
June 2016 June 2015 2015
$ $ $
Cash flows from operating
activities
Loss before tax (185,247) (459,597) (1,120,111)
Reconciliation to cash
generated from operations:
Foreign exchange (gain)/loss (31,429) - 22,125
Interest expense 29,046 - 29,227
Impairment losses - - 272,450
Administrative expenses
converted into ordinary
shares - - 1,209,625
----------- ----------- ------------
Operating cash flow
before changes in working
capital (187,630) (459,597) (413,316)
----------- ----------- ------------
Decrease/(increase)
in receivables (201,699) (8,210) 11,934
Increase/(decrease)
in payables 175,235 (55,253) (816,781)
----------- ----------- ------------
Cash outflow from operations (214,094) (523,060) (391,531)
----------- ----------- ------------
Cash flows from investing
activities
Decrease in Investments 8,771 - -
(Increase)/Decrease
in Intangible Assets (17,815) 2,508 -
(Income) on exploration
activities - - (1,170)
----------- ----------- ------------
Net cash flow from
investing activities (9,044) 2,508 (1,170)
----------- ----------- ------------
Cash flows from financing
activities
Proceeds of loan from
Sanderson Capital Partners
Limited 400,000 - -
Interest paid - (10,401) -
Issue of shares for
cash - - 368,253
(Decrease)/Increase
in borrowings - 313,080 (233,025)
----------- ----------- ------------
Net cash flow from
financing activities 400,000 302,679 135,288
----------- ----------- ------------
Effects of exchange
rates on cash and cash
equivalents (22,729) 22,217 216,254
----------- ----------- ------------
Net increase/(decrease)
in cash 154,133 (195,656) (40,049)
Cash at bank at 1 January 263,741 303,790 303,790
----------- ----------- ------------
Cash at bank 30 June
2016 417,874 108,134 263,741
=========== =========== ============
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCAKFDKCBKKCCK
(END) Dow Jones Newswires
September 08, 2016 05:13 ET (09:13 GMT)
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