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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 2021 to Apr 2024
TIDMARS
RNS Number : 5800J
Asiamet Resources Limited
24 August 2021
24 August 2021
2021 Interim Report and Financial Statements
Asiamet Resources Limited ("Asiamet" or the "Company") is pleased to present its unaudited financial statements for the 6 months ended 30 June 2021 ("Financial Statements") as extracted from the Company's 2021 Half Year Report. The Report 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 are set out below and should be read in conjunction with the 2021 Half Year Report which contains the notes to the Financial Statements.
All dollars in the report are US$ unless otherwise stated.
2021 Financial and Operational Highlights Include:
-- Termination of the Share and Purchase Agreement ("SPA") with PT Wasesa Indo Nusa ("PT WIN") on 25 January 2021 due to PT WIN failing to fulfill its obligations under the binding SPA signed on 24 December 2020.
-- Equity financing, raising gross proceeds of approximately $14 million completed in late February 2021.
-- Appointment of Eva Armila Djauhari as a Non-executive Director, effective 5 May 2021.
-- Value enhancement activities for the BKM Project continued to evaluate the potential for a concentrate - tank leach processing option (vs heap leach processing) and prepare for drilling to expand resources and mine life. Once complete the Company will update the project economics and progress a preferred processing option to development.
ON BEHALF OF THE BOARD OF DIRECTORS
Antony (Tony) Manini, Executive Chairman
For further information, please contact:
-Ends-
Tony Manini
Executive Chairman, Asiamet Resources Limited
Email: tony.manini@ asiametresources .com
FlowComms Limited - Investor Relations
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com
Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Bhavesh Patel / Stephen Allen
Telephone: +44 (0)20 3440 6800
Email: Bhavesh.Patel@rfcambrian.com / Stephen.Allen@rfcambrian.com
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.com
Follow us on twitter @AsiametTweets
FORWARD-LOOKING STATEMENT
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
Hot Features
Premium
30-Jun 31-Dec
2021 2020
Unaudited Audited
$'000 $'000
------------------------------------------ ---------- ---------
Assets
Current assets
Cash 11,941 1,179
Receivables and other assets 28 4
11,969 1,183
Assets classified as held for sale - 125
---------- ---------
11,969 1,308
Non-current assets
Plant and equipment 61 39
Right-of-use asset 4 3
Receivables and other assets 70 5
---------- ---------
135 47
Total assets 12,104 1,355
------------------------------------------- ---------- ---------
Liabilities and Equity
Current liabilities
Trade and other payables 552 391
Provisions 235 253
Lease liabilities 214 278
---------- ---------
1,001 922
Liabilities directly associated with the
assets classified as held for sale - 753
---------- ---------
1,001 1,675
Non-current liabilities
Provisions 569 81
----------
Total liabilities 1,570 1,756
---------- ---------
Equity
Share capital 19,326 14,752
Equity reserves 65,442 56,661
Other comprehensive income 83 83
Accumulated deficit (71,064) (68,644)
Other reserves (3,246) (3,246)
Parent entity interest 10,541 (394)
Non-controlling interest (7) (7)
10,534 (401)
Total liabilities and equity 12,104 1,355
------------------------------------------- ---------- ---------
Interim condensed consolidated statement of comprehensive loss (unaudited)
For the six months ended 30 June
2021 2020
$'000 $'000
=============================================== =========== ===========
Expenses
Exploration and evaluation (1,003) (571)
Employee benefits (912) (960)
Consultants (41) (97)
Legal and Company Secretarial (99) (148)
Accounting and audit (1) (3)
General and administrative (182) (180)
Depreciation (20) (54)
Share-based compensation (92) (87)
-----------
(2,350) (2,100)
----------- -----------
Other items
Other gains 122 -
Foreign exchange gain/(loss) (150) 283
Interest income - 1
Finance costs (10) (16)
Impairment expense (33) (284)
Other income 1 1
(70) (15)
----------- -----------
Net loss for the half year (2,420) (2,115)
------------------------------------------------ ----------- -----------
Net loss attributable to:
Equity holders of the parent (2,335) (2,074)
Non-controlling interests (85) (41)
Total comprehensive loss attributable
to:
Equity holders of the parent (2,335) (2,074)
Non-controlling interests (85) (41)
Basic and diluted loss per common
share (0.00) (0.00)
Weighted average number of shares outstanding
(thousands) 1,625,081 1,184,961
------------------------------------------------- ----------- -----------
Interim condensed consolidated statement of cash flows (unaudited)
For the six months ended 30 June
2021 2020
$'000 $'000
============================================= ========= =========
Operating activities
Loss for the half year (2,420) (2,115)
Adjustment for:
Depreciation 20 54
Share-based compensation 92 -
Net foreign exchange loss/(gain) (18) 4
Impairment expense 33 274
Finance costs 10 11
Movements in provisions (20) 119
Changes in working capital:
Receivables and other assets (12) 13
Trade and other payables (194) (112)
Other adjustments:
Interest payments (10) (11)
Payment for security deposit - (50)
Net cash flows used in operating activities (2,519) (1,813)
--------- ---------
Investing activities
Purchases of plant and equipment (5) -
Net cash flows used in investing activities (5) -
--------- ---------
Financing activities
Payment of principal portion of lease
liabilities (75) (35)
Proceeds from equity raising 14,089 3,522
Equity raising costs (735) (64)
Net cash flows from financing activities 13,279 3,423
--------- ---------
Increase in cash 10,755 1,610
Cash at beginning of the year 1,186 418
Cash at 30 June 11,941 2,028
---------------------------------------------- --------- ---------
Interim consolidated statement of changes in equity (unaudited)
For the six months ended 30 June 2021
Total equity
Other attributable Non-
Share Equity comprehensive Accumulated Other to the controlling
capital reserves income deficit reserves parent interests Total
$'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000
=============== ======== ========= ============== ============ ========= ============= ============ =========
Balance at 1
January 2021 14,752 56,661 83 (68,644) (3,246) (394) (7) (401)
Loss for the
half year - - - (2,335) - (2,335) (85) (2,420)
-------- --------- -------------- ------------ --------- ------------- ------------ ---------
Total
comprehensive
income - - - (2,335) - (2,335) (85) (2,420)
Transactions
with owners in
their
capacity as
owners
Equity raising 4,574 9,516 - - - 14,090 - 14,090
Equity raising
costs - (735) - - - (735) - (735)
Contribution
by parent in
NCI - - - (85) - (85) 85 -
Balance at 30
June 2021 19,326 65,442 83 (71,064) (3,246) 10,541 (7) 10,534
---------------- -------- --------- -------------- ------------ --------- ------------- ------------ ---------
Interim consolidated statement of changes in equity (unaudited)
For the six months ended 30 June 2020
Total equity
Other attributable Non-
Share Equity comprehensive Accumulated Other to the controlling
capital reserves income deficit reserves parent interests Total
$'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000
=============== ======== ========= ============== ============ ========= ============= ============ =========
Balance at 1
January 2020 10,969 56,435 74 (64,511) (3,246) (279) (7) (286)
Loss for the
half year - - - (2,074) - (2,074) (41) (2,115)
-------- --------- -------------- ------------ --------- ------------- ------------ ---------
Total
comprehensive
income - - - (2,074) - (2,074) (41) (2,115)
Transactions
with owners in
their
capacity as
owners
Equity raising 3,734 164 - - - 3,898 - 3,898
Equity raising
costs - (64) - - - (64) - (64)
Contribution
by parent in
NCI - - - (41) - (41) 41 -
Balance at 30
June 2020 14,703 56,535 74 (66,626) (3,246) 1,440 (7) 1,433
---------------- -------- --------- -------------- ------------ --------- ------------- ------------ ---------
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END
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(END) Dow Jones Newswires
August 24, 2021 02:30 ET (06:30 GMT)
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