VVV Resources Limited: Interim Results for the six months ended 30 June 2022

VVV Resources Limited (VVV) VVV Resources Limited: Interim Results for the six months ended 30 June 2022 02-Nov-2022 / 07:00 GMT/BST Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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VVV Resources Limited

("VVV" or the "Company")

Interim Results for the six months ended 30 June 2022

VVV Resources Limited (formerly Veni Vidi Vici Limited) announces its unaudited interim results for the six months ended 30 June 2022.

Overview

On the 24 March 2022 the Company had signed a conditional Share Purchase Agreement ("SPA") with CASS FZE and Stella Investments Limited (both private companies, incorporated and registered in the United Arab Emirates) to acquire 100% of the entire issued share capital of Anthony Vartkes Resources Limited, a BVI-registered company. On completion of the SPA, VVV will hold a 100% interest in the Mitterberg Copper Project in Austria and the remaining 49% interest in the Shangri La polymetallic project in Western Australia.

The Shangri La Project is a gold-copper-silver project comprising a polymetallic hydrothermal quartz vein type deposit covering an area of 10 hectares. The Shangri La Project is located 10 kilometres west of Kununurra, the central town of the Northeast Kimberley region in Western Australia.

Mr Lester Kemp, David Rigoll & Simon Clarke have resigned as Director in July & October 2022. At the same time, Mr Malcolm Macleod & Jim Williams were appointed as Directors in September and October 2022, respectively.

A number of projects in Western Australia are currently being reviewed, and shareholders will be provided with further news on these in the year end Report.

Financial Review

The loss for the period to 30 June 2022 was GBP77,000 (30 June 2021 - GBP 134,000 and 31 December 2021 - GBP431,000 loss) which mainly related to share based payments, regulatory costs and other corporate overheads. The total revenue for the period was nil. At 30 June 2022, the Company had cash balances of GBP17,000 (30 June 2021 - GBP 346,000 and 31 December 2021 - GBP87,000).

The interim accounts to 30 June 2022 have not been reviewed by the Company's auditors.

Mahesh s/o Pulandaran

Director

31 October 2022

The directors of the Company accept responsibility for the contents of this announcement.

For further information please contact:

The Company 
Mahesh s/o Pulandaran                  [phone] 
 
AQSE Growth Market Corporate Adviser: 
 
Peterhouse Capital Limited 
                                       [phone] 
Guy Miller/Mark Anwyl Unaudited Condensed Company Statement of Comprehensive Income for the six months ended 30 June 2022 
                                                                                       6 months   6 months   Year ended 
                                                                                       to         to 
                                                                                       30 June    30 June    31 
                                                                                                             December 
                                                                                       2022       2021 
                                                                                                             2021 
                                                                                       Unaudited  Unaudited  Audited 
                                                                                 Notes GBP'000      GBP'000      GBP'000 
Continuing operations 
Revenue 
Investment income                                                                      -          -          - 
Total gains on AFS investments                                                         -          -          - 
 
Administrative costs                                                                   (77)       (134)      (431) 
Share based payments                                                                   -          - 
 
Operating (loss)                                                                       (77)       (134)      (431) 
 
Finance costs                                                                                                - 
(Loss) before tax                                                                      (77)       (134)      (431) 
 
Taxation                                                                                                     - 
(Loss) for the period                                                                  (77)       (134)      (431) 
 
Other comprehensive income 
Translation exchange (loss)/gain                                                       -          -          - 
Other comprehensive income for the period net of taxation                              -          -          - 
Total Comprehensive Income for the year attributable to the owners of the parent       (77)       (134)      (431) 
company 
 
(Loss) per share: 
Basic and diluted (loss) per share (pence)                                       2     (4.09)     (7.12)     (22.87) Unaudited Condensed Company Statement of Financial Position as at 30 June 2022 
                                                          30 June   30 June 
                                                                              31 December 2021 
                                                          2022      2021 
                                                          Unaudited Unaudited Audited 
                                                    Notes GBP'000     GBP'000     GBP'000 
ASSETS 
Non-current assets 
Intangible assets                                         136       136       136 
                                                          136       136       136 
 
Current assets 
Trade and other receivables                               34        7         22 
Cash and cash equivalents                                 17        346       87 
                                                          51        353       109 
 
Total assets                                              187       489       245 
 
LIABILITIES 
Current liabilities 
Trade and other payables                                  (116)     (44)      (97) 
Total current liabilities                                 (116)     (44)      (97) 
 
Total liabilities                                         (116)     (44)      (97) 
 
Net Assets                                                71        445       148 
 
EQUITY 
Equity attributable to equity holders of the parent 
Share capital                                             -         -         - 
Share premium account                                     863       863       863 
Share based payment reserve                               26        26        26 
Retained earnings                                         (818)     (444)     (741) 
Total equity                                              71        445       148 Unaudited Condensed Company Statement of Changes in Equity for the six months ended 30 June 2022 
                                                                                               Total 
                                          Share   Share                               Retained attributable 
                                                          Share based payment reserve 
                                          capital premium                             earnings to owners 
                                                                                               of parent 
Audited                                   GBP'000   GBP'000   GBP'000                       GBP'000    GBP'000 
At 31 December 2020                       -       643     26                          (310)    359 
 
 
Loss for the period                       -       -       -                           (431)    (431) 
Total comprehensive income                -       -       -                           (431)    (431) 
 
Issue of share capital                    -       220     -                           -        220 
Transactions with owners of the company   -       220     -                           -        220 
 
At 31 December 2021                       -       863     26                          (741)    148 
 
Unaudited 
At 31 December 2021                       -       863     26                          (741)    148 
 
Loss for the period                       -       -       -                           (77)     (77) 
Total comprehensive income for the period -       -       -                           (77)     (77) 
 
Issue of share capital                    -       -       -                           -        - 
Transactions with owners of the company   -       -       -                           -        - 
 
Balance at 30 June 2022                   -       863     26                          (818)    71 
 
 
 
 
 
 
 Unaudited Condensed Company Statement of Cash Flows for the six months ended 30 June 2022 
                                                   6 months to 6 months to Year to 
                                                   30 June     30 June 
                                                                           31 December 2021 
                                                   2022        2021 
                                                   Unaudited   Unaudited   Audited 
                                                   GBP'000       GBP'000       GBP'000 
Cash flows from operating activities 
Operating (loss)                                   (77)        (134)       (431) 
Adjustments for: 
Share based payment charge                         -           -           - 
Issue of shares to settle liabilities              -           -           - 

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