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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.075 | 9.68% | 0.85 | 0.80 | 0.90 | 0.85 | 0.775 | 0.775 | 5,878,414 | 12:45:55 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Miscellaneous Metal Ores,nec | 0 | -6.93M | -0.0027 | -3.15 | 22.05M |
From Apr 2019 to Apr 2024
TIDMARS
RNS Number : 2445M
Asiamet Resources Limited
13 September 2019
13 September 2019
2019 Interim Financial Statements
Asiamet Resources Limited ("Asiamet" or the "Company") is pleased to present its unaudited interim financial statements for the 6 months ended 30 June 2019 ("Financial Statements") as extracted from the Company's 2019 Half Year 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 2019 Half Year Report which contains the notes to the Financial Statements.
All dollars in the report are US$ unless otherwise stated.
Key Operating highlights include:
-- Feasibility Study for the BKM Copper Project in Central Kalimantan completed
-- Value Enhancement initiatives announced with the Feasibility Study (see release 14 June 2019)
-- Updated JORC Mineral Resource estimate for the BKM Copper Project -- Maiden JORC Ore Reserve estimate for the BKM Copper Project -- Updated JORC Mineral Resource estimate for Beutong -- Private Placement of $2 million to long term shareholder ASIPAC Group
Financial highlights for the six months ended 30 June 2019 include:
-- 2019 loss $4.2 million (2018: loss $6.2 million) -- Closing cash as at 30 June 2019 $0.46 million (31 December 2018: $2.68 million) -- The Company has no debt
Key events post 30 June 2019 include:
-- On 20 August 2019 the Company completed an equity raise with gross proceeds of $2.1 million
-- On 21 August 2019, a MoU was signed with China NFC for value engineering and Engineering, Procurement and Construction Management (EPCM) Services for the BKM Copper project
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, Detlir Elezi
Telephone: +44 20 3207 7800
Email: Matthew.Armitt@berenberg.com / Detlir.Elezi@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
Follow us on twitter @AsiametTweets
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").
Interim condensed consolidated statement of financial position
As at 30 June 2019
Hot Features
Premium
30 Jun 31 Dec
2019 2018
Note Unaudited Audited
$'000 $'000
====================================== ===== ========== ==========
ASSETS
Current assets
Cash 463 2,679
Receivables and other assets 5 88 84
551 2,763
Non-current assets
Plant and equipment 220 234
Right of use asset 2.2 306 -
Security deposit 85 91
Receivables and other assets 5 626 536
---------- ----------
1,237 861
TOTAL ASSETS 1,788 3,624
--------------------------------------- ----- ---------- ----------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Trade and other payables 785 980
Provision for employee service
entitlements 70 50
Lease liabilities 2.2 95 -
---------- ----------
950 1,030
Non-current liabilities
Provision for employee service
entitlements 377 378
Lease liabilities 2.2 281 -
---------- ----------
658 378
TOTAL LIABILITIES 1,608 1,408
---------- ----------
Equity
Share capital 6 10,386 9,983
Equity reserves 54,574 52,804
Other comprehensive gain 10 10
Accumulated deficit (61,537) (57,328)
Other reserves (3,246) (3,246)
Parent entity interest 187 2,223
Non-controlling interest (7) (7)
180 2,216
TOTAL LIABILITIES AND EQUITY 1,788 3,624
--------------------------------------- ----- ---------- ----------
Interim condensed consolidated statement of comprehensive loss (unaudited)
For the six months ended 30 June 2019
For the 6 months
ended
Note 30 Jun 2019 30 Jun 2018
$'000 $'000
========================================== ===== ============ ============
Expenses
Exploration and evaluation 4 (2,528) (3,700)
Employee benefits (1,103) (1,169)
Consultants (112) (267)
Legal and Company Secretarial (154) (150)
Accounting and audit (8) (47)
General and administrative (175) (252)
Depreciation (72) (9)
Share-based compensation 6.4 (78) (242)
------------ ------------
(4,230) (5,836)
------------ ------------
Other items
Foreign exchange gain/(loss) 22 (355)
Finance costs 2.2 (3) -
Interest income 2 -
------------ ------------
21 (355)
------------ ------------
Loss before tax (4,209) (6,191)
Tax - -
Net loss for the half year (4,209) (6,191)
Total comprehensive loss for the
half year (4,209) (6,191)
------------------------------------------- ----- ------------ ------------
Net loss attributable to:
Equity holders of the parent (4,108) (6,040)
Non-controlling interests (101) (151) Total comprehensive loss attributable to: Equity holders of the parent (4,108) (6,040) Non-controlling interests (101) (151) Basic and diluted loss per common share (0.00) (0.01) Weighted average number of shares outstanding (thousands) 977,523 878,224 -------------------------------------------------- ------------ ------------
Interim condensed consolidated statement of cash flows (unaudited)
For the six months ended 30 June 2019
For the 6 months
ended
Note 30 Jun 2019 30 Jun 2018
$'000 $'000
========================================= ===== ============ ============
Cash provided from (used for):
Operating activities
Net loss for the year (4,209) (6,191)
Adjustment for:
Depreciation 32 9
Share-based compensation 6.4 78 242
Foreign exchange losses 33 1
Other non-cash expenses 3 5
Changes in non-cash working capital:
Receivables and other assets (3) (30)
Value Added Tax ("VAT") (108) (7)
Trade and other payables (110) 83
Provision for employee service
entitlements 19 40
(4,265) (5,848)
------------ ------------
Investing activities
Purchases of equipment (20) (198)
Security deposits 7 -
Payment for additional investment in Beutong
Resources - (3,246)
(13) (3,444)
------------ ------------
Financing activities
Payment of lease liabilities (33) -
Proceeds from warrant and option
exercises 221 801
Proceeds from equity raising 2,000 10,082
Equity raising costs (126) (663)
------------
2,062 10,220
------------ ------------
Increase/(decrease) in cash (2,216) 928
Cash at beginning of the year 2,679 3,079
Cash at end of the half year 463 4,007
------------------------------------------ ----- ------------ ------------
Attributable to equity holders of the parent
---------
Other Non-
Number Share Equity Comprehensive Accumulated Other Total controlling Total
of capital reserves (loss)/gain deficit 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 65,402 654 9,428 - - - 10,082 - 10,082
Warrant
exercises 1,874 21 82 - - - 103 - 103
Option
exercises 2,147 84 306 - - - 390 - 390
Equity
raising
costs - - (663) - - - (663) - (663)
Share based
compensation - 242 - - - 242 - 242
Loss for the
year - - - - (6,040) - (6,040) (151) (6,191)
Acquisition
of NCI - - - - - (3,246) (3,246) - (3,246)
Contribution
by
parent in
NCI - - - - (151) - (151) 151 -
------------ ---------
Balance at 30
June
2018 926,187 9,287 49,749 (12) (52,484) (3,246) 3,294 (7) 3,287
--------------- --------- --------- ------------------------ ------------ --------- ------------ ---------
Balance at 1
January
2019 998,773 9,983 52,803 10 (57,328) (3,246) 2,222 (7) 2,215
Equity
raising 362 1,638 - - - 2,000 - 2,000
Warrant
exercises 19 122 - - - 141 - 141
Option
exercises 22 59 - - - 81 - 81
Equity
raising
costs - (126) - - - (126) - (126)
Share based
compensation - 78 - - - 78 - 78
Loss for the
year - - - (4,108) - (4,108) (101) (4,209)
Contribution
by
parent in
NCI - - - (101) - (101) 101 -
-------------- --------- -------- --------- ------------------------ ------------ --------- --------- ------------ ---------
Balance at 30
June
2019 998,773 10,386 54,574 10 (61,537) (3,246) 187 (7) 180
--------------- --------- -------- --------- ------------------------ ------------ --------- --------- ------------ ---------
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
IR GGUQPBUPBUAW
(END) Dow Jones Newswires
September 13, 2019 02:00 ET (06:00 GMT)
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