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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% | 0.90 | 0.85 | 0.95 | 0.925 | 0.90 | 0.925 | 71,887 | 11:00:10 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Miscellaneous Metal Ores,nec | 0 | -6.93M | -0.0027 | -3.41 | 23.35M |
From Jul 2019 to Jul 2024
TIDMARS
RNS Number : 2963A
Asiamet Resources Limited
28 May 2019
28 May 2019
2018 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 2018 ("Financial Statements") as extracted from the Company's 2018 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 2018 Annual Report which contains the notes to the Financial Statements.
All dollars in the report are US$ unless otherwise stated.
Financial highlights include:
-- 2018 loss $11.0 million (2017: loss $7.5 million) -- Closing cash as at 31 December $2.679 million (2017: $3.079 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
Berenberg
Matthew Armitt, Sara MacGrath
Telephone: +44 20 3753 3142
Email: Matthew.Armitt@berenberg.com
Liberum
Clayton Bush, Kane Collings
Telephone: +44 7773 322679
Email: Clayton.Bush@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 2018
Hot Features
Premium
2018 2017
$'000 $'000
============================================= ========== ==========
ASSETS
Current assets
Cash 2,679 3,079
Receivables and other assets 84 143
2,763 3,222
Non-current assets
Plant and equipment 234 41
Security deposit 91 97
Receivables and other assets 536 420
---------- ----------
861 558
TOTAL ASSETS 3,624 3,780
---------------------------------------------- ---------- ----------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Trade and other payables 980 1,054
Provision for employee service entitlements 50 -
1,030 1,054
Non-current liabilities
Provision for employee service entitlements 378 156
1,408 1,210
---------- ----------
Equity
Share capital 9,983 8,528
Equity reserves 52,804 40,354
Other comprehensive gain/(loss) 10 (12)
Accumulated losses (57,328) (46,293)
Other reserves (3,246) -
Parent entity interest 2,223 2,577
Non-controlling interest (7) (7)
2,216 2,570
TOTAL LIABILITIES AND EQUITY 3,624 3,780
---------------------------------------------- ---------- ----------
Consolidated Statement of Comprehensive Loss
For the year ended 31 December 2018
2018 2017
$'000 $'000
=============================================== ========== =========
Expenses
Exploration and evaluation (6,218) (4,628)
Employee benefits (2,341) (1,561)
Consultants (503) (668)
Legal and Company Secretarial (308) (139)
Accounting and audit (131) (109)
General and administrative (541) (249)
Depreciation (38) (24)
Share-based compensation (480) (914)
---------- ---------
(10,560) (8,292)
---------- ---------
Other items
Foreign exchange gain/(loss) (479) 81
Gain on sale of subsidiary - 708
Interest income 3 1
Other income 1 -
(475) 790
---------- ---------
Loss before tax (11,035) (7,502)
Tax - -
---------- ---------
Loss for the year (11,035) (7,502)
Items that may not be reclassified
subsequently
to profit or loss:
Actuarial gain/(loss) on employee
service entitlements 22 (10)
---------- ---------
Total comprehensive loss for the year (11,013) (7,512)
------------------------------------------------ ---------- ---------
Net loss attributable to:
Equity holders of the parent (10,681) (7,244)
Non-controlling interests (354) (258)
Total comprehensive loss attributable
to:
Equity holders of the parent (10,659) (7,254)
Non-controlling interests (354) (258)
Basic and diluted loss per common
share (0.01) (0.01)
Weighted average number of shares outstanding
(thousands) 924,394 772,537
------------------------------------------------- ---------- ---------
Consolidated Statement of Cash Flows
For the year ended 31 December 2018
2018 2017
$'000 $'000
============================================== ========== =========
Cash provided from (used for):
Operating activities
Net loss for the year (11,013) (7,512)
Adjustment for:
Depreciation 38 24
Share-based compensation 480 914
Foreign exchange losses/(gains) 33 (10)
Gain on sale of subsidiary - (708)
Other comprehensive loss (gain) (22) 10
Changes in non-cash working capital:
Receivables and other assets 59 (93)
Value Added Tax ("VAT") (117) (242)
Trade and other payables (73) 61
Provision for employee service entitlements 272 59
---------
(10,343) (7,497)
---------- ---------
Investing activities
Purchase of plant and equipment (238) (26)
Proceeds from sale of equipment 3 -
Payment for additional investment in Beutong (3,246) -
Resources
Proceeds on sale of subsidiary,
net of cash sold - 699
---------- ---------
(3,481) 673
---------- ---------
Financing activities
Repayment of related party loans - (233)
Proceeds from warrant and option
exercises 1,034 802
Proceeds from equity raising 13,334 8,018
Equity raising costs (944) (432)
---------
13,424 8,155
---------- ---------
Increase/(decrease) in cash (400) 1,331
Cash at beginning of the year 3,079 1,748
Cash at end of the year 2,679 3,079
----------------------------------------------- ---------- ---------
Consolidated Statement of Changes in Equity
For the year ended 31 December 2018
Attributable to equity holders of the parent
---------
Other Non-
Number Share Equity comprehensive Accumulated Other Total controlling Total
of capital reserves gain/(loss) losses reserves interests
shares
'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000
-------- --------- -------------- ------------ --------- ----------
Balance at 1
January
2018 856,764 8,528 40,354 (12) (46,293) - 2,577 (7) 2,570
Equity
raising 126,150 1,262 12,072 - - - 13,334 - 13,334
Warrant
exercises 2,759 62 214 - - - 276 - 276
Option
exercises 13,100 131 628 - - - 759 - 759
Equity
raising
costs - - (944) - - - (944) - (944)
Share-based
compensation - - 480 - - - 480 - 480
Net Loss for
the year - - - - (10,681) - (10,681) (354) (11,035)
Actuarial
gain on
employee
service
entitlements - - - 22 - - 22 - 22
Acquisition
of NCI - - - - - (3,246) (3,246) - (3,246)
Contribution
by parent
in NCI - - - - (354) - (354) 354 -
-------------- ------------ ----------
Balance at 31
December
2018 998,773 9,983 52,804 10 (57,328) (3,246) 2,223 (7) 2,216
--------------- -------- --------- -------------- ------------ --------- ------------ ----------
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
ACSGLGDUGBDBGCI
(END) Dow Jones Newswires
May 28, 2019 02:15 ET (06:15 GMT)
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