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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Asiamet Resources Limited | LSE:ARS | London | Ordinary Share | BM04521V1038 | COM SHS USD0.01 (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.70 | 0.65 | 0.75 | 0.70 | 0.675 | 0.70 | 1,567,017 | 08:00:14 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Miscellaneous Metal Ores,nec | 0 | -6.93M | -0.0027 | -2.59 | 18.16M |
TIDMARS
RNS Number : 3662M
Asiamet Resources Limited
27 April 2018
For Immediate Release London AIM 27 April 2018 Symbol: ARS
2017 Annual Report & Financial Statements
Asiamet Resources Limited ("Asiamet" or the "Company") is pleased to present its audited financial statements for the 12 months ended 31 December 2017 ("Financial Statements") as extracted from the Company's 2017 Annual Report which is now available on the Company website at www.asiametresources.com and will be provided to shareholders who have requested a printed or electronic copy. The Financial Statements should be read in conjunction with the 2017 Annual Report which contains the notes to the Financial Statements.
All dollars in the report are US$ unless otherwise stated.
Financial highlights include:
-- 2017 net loss $7.5 million (2016: net loss 3.8 million) -- Closing cash as at 31 December $3.079 million (2016: $1.748 million) -- The Company has no debt.
ON BEHALF OF THE BOARD OF DIRECTORS
Peter Bird, Deputy Chairman and CEO
For further information, please contact:
-Ends-
Peter Bird
Deputy Chairman and CEO, Asiamet Resources Limited
Telephone: +61 3 8644 1300
Email: peter.bird@asiametresources.com
Tony Manini
Executive Chairman, Asiamet Resources Limited
Telephone: +61 3 8644 1300
Email: tony.manini@asiametresources.com
FlowComms Limited
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com
Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Andrew Thomson / Stephen Allen
Telephone: +61 8 9480 2500
Email: Andrew.Thomson@rfcambrian.com / Stephen.Allen@rfcambrian.com
Liberum
Neil Elliot, Clayton Bush, Kane Collings
Telephone: +44 7773 322679
Email: Neil.Elliot@Liberum.com
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.com
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
Consolidated Statement of Financial Position
As at 31 December 2017
Hot Features
Premium
2017 2016
$'000 $'000
================================ =========================== ===========================
ASSETS
Current assets
Cash 3,079 1,748
Receivables and other assets 586 254
Share subscription receivable - 802
3,665 2,804
Non-current assets
Equipment 41 37
Security deposit 74 94
--------------------------- ---------------------------
115 131
TOTAL ASSETS 3,780 2,935
--------------------------------- --------------------------- ---------------------------
LIABILITIES AND SHAREHOLDERS'
EQUITY
Current liabilities
Trade and other payables 1,054 1,017
Related party borrowings - 233
1,054 1,250
--------------------------- ---------------------------
Non-current liabilities
Provision for employee service
entitlements 156 102
1,210 1,352
--------------------------- ---------------------------
Equity
Share capital 8,528 7,060
Equity reserves 40,354 33,323
Other comprehensive loss (12) (2)
Accumulated Deficit (46,293) (38,791)
Parent entity interest 2,577 1,590
Non-controlling interest (7) (7)
2,570 1,583
TOTAL LIABILITIES AND EQUITY 3,780 2,935
--------------------------------- --------------------------- ---------------------------
Consolidated Statement of Comprehensive Loss
For the year ended 31 December 2017
2017 2016
$'000 $'000
======================================= ========= =========
Expenses
Accounting and audit (109) (100)
Consultants (668) (730)
Exploration and evaluation (4,628) (1,401)
Legal and Company Secretarial (139) (115)
General and administrative (249) (68)
Depreciation (24) (79)
Employee benefits (1,561) (1,121)
Share-based compensation (914) (300)
(8,292) (3,914)
--------- ---------
Other items
Taxation expense - (7)
Foreign exchange gain 81 25
Gain on sale of subsidiary 708 100
Interest income 1 2
790 120
--------- ---------
Net loss (7,502) (3,794)
Items that may not be reclassified
subsequently to profit or loss:
Actuarial loss on employee service
entitlements (10) (2)
Total comprehensive loss for
the year (7,512) (3,796)
---------------------------------------- --------- ---------
Net loss attributable to:
Equity holders of the parent (7,244) (3,794)
Non-controlling interests (258) -
Total comprehensive loss attributable
to:
Equity holders of the parent (7,254) (3,794)
Non-controlling interests (258) -
Basic and diluted loss per common
share (0.01) (0.01)
---------------------------------------- --------- ---------
Weighted average number of shares
outstanding (thousands) 772,537 609,750
---------------------------------------- --------- ---------
Consolidated Statement of Cash Flows
For the year ended 31 December 2017
2017 2016
$'000 $'000
---------------------------------- ------------------------ -------------------------
Cash provided from (used for):
Operating activities
Loss for the year (7,512) (3,794)
Adjustment for:
Depreciation 24 79
Share-based compensation 914 300
Unrealised foreign exchange
gain - (4)
Gain on sale of subsidiary (708) -
Changes in non-cash working
capital:
Receivables and other assets (93) 24
Value Added Tax ("VAT") (242) (178)
Trade and other payables 61 667
Provision for employee service
entitlements 59 59
(7,497) (2,847)
------------------------ -------------------------
Investing activities
Purchase of equipment (26) (24)
Proceeds on sale of subsidiary,
net of cash sold 699 -
673 (24)
------------------------ -------------------------
Financing activities
(Repayment of) Proceeds
from related party loans (233) 233
Proceeds from share subscription 802 -
Proceeds from equity raising 8,018 3,831
Equity raising costs (432) (224)
8,155 3,840
------------------------ -------------------------
Increase in cash 1,331 969
Cash at beginning of the year 1,748 779
Cash at end of the year 3,079 1,748
----------------------------------- ------------------------ -------------------------
Consolidated Statement of Changes in Equity
For the year ended 31 December 2017
Attributable to equity holders of
the parent
-------- ----------------------------------------------------------------------
Number Share Equity Other Comprehensive Accumulated Total Non-Controlling Total
of capital reserves Loss Deficit Interests
shares
'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000
Balance at 1
January
2016 574,597 5,707 29,968 - (34,997) 678 (7) 671
Equity
raising 135,344 1,353 3,280 - - 4,633 - 4,633
Warrant
issues -
brokers - - 165 - - 165 - 165
Equity
raising
costs - - (390) - - (390) - (390)
Share based
compensation - - 300 - - 300 - 300
Loss for the
year - - - - (3,794) (3,794) - (3,794)
Actuarial
loss on
employee
service
entitlements - - - (2) - (2) - (2)
-------- ---------------- --------
Balance at 31
December
2016 709,941 7,060 33,323 (2) (38,791) 1,590 (7) 1,583
--------------- -------- --------- --------- ------------------------ ------------ -------- ---------------- --------
Equity
raising 144,952 1,395 6,346 - - 7,741 - 7,741
Warrant
exercises -
brokers 1,874 73 203 - - 276 - 276
Equity
raising
costs - - (432) - - (432) - (432)
Share based
compensation - - 914 - - 914 - 914
Cancelled (3) - - - - - - -
shares
Loss for the
year - - - - (7,244) (7,244) (258) (7,502)
Actuarial
loss on
employee
service
entitlements - - - (10) - (10) - (10)
Contribution
by parent in
NCI - - - - (258) (258) 258 -
-------------- -------- --------- --------- ------------------------ ------------ -------- ---------------- --------
Balance at 31
December
2017 856,764 8,528 40,354 (12) (46,293) 2,577 (7) 2,570
--------------- -------- --------- --------- ------------------------ ------------ -------- ---------------- --------
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR GRGDSIXDBGIR
(END) Dow Jones Newswires
April 27, 2018 04:00 ET (08:00 GMT)
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