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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 | 493,062 | 11:00:10 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Miscellaneous Metal Ores,nec | 0 | -6.93M | -0.0027 | -3.33 | 23.35M |
TIDMARS
RNS Number : 8638B
Asiamet Resources Limited
25 September 2018
For Immediate Release London AIM 25 September 2018 Symbol: ARS
Asiamet Resources Limited ("Asiamet" or the "Company") is pleased to present its unaudited financial statements for the 6 months ended 30 June 2018 ("Interim Results") as extracted from the Company's 2018 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 copy. The Interim Results should be read in conjunction with the full 2018 Half Year Report which contains the notes to the Financial Statements and management comments on the 6 months to 30 June 2018.
All dollars in the report are US$ unless otherwise stated.
Financial highlights for the six months ended 30 June 2018 include:
-- Unaudited 2018 net loss $6.19 million (six months to 30 June 2017: net loss 2.01 million) -- Unaudited closing cash as at 30 June 2018 $4.0 million (31 December 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
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").
Asiamet Resources Limited - Unaudited Balance Sheet as at 30 June 2018
Hot Features
Premium
Note 30 Jun 31 Dec
2018 2017
Unaudited Audited
$'000 $'000
==================== =========
ASSETS
Current assets
Cash 4,007 3,079
Receivables and other assets 4 623 586
-------------------- ---------
4,630 3,665
Non-current assets
Property, plant and Equipment 230 41
Security deposit 3b 70 74
-------------------- ---------
300 115
-------------------- ---------
TOTAL ASSETS 4,930 3,780
---------------------------------------------- ----- -------------------- ---------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Trade and other payables 5 1,137 1,054
Other financial liabilities 6 310 -
-------------------- ---------
1,447 1,054
-------------------- ---------
Non-current liabilities
Provision for employee service entitlements 196 156
-------------------- ---------
196 156
-------------------- ---------
Equity
Share capital 7 9,287 8,528
Equity reserves 49,749 40,354
Other comprehensive loss (12) (12)
Accumulated Deficit (52,484) (46,293)
-------------------- ---------
Parent entity interest 6,540 2,577
Non-controlling interest (3,253) (7)
-------------------- ---------
3,287 2,570
-------------------- ---------
TOTAL LIABILITIES AND EQUITY 4,930 3,780
---------------------------------------------- ----- -------------------- ---------
Asiamet Resources Limited - Unaudited Profit & Loss Statement for the six months ended 30 June 2018
For the 6 months ended
Note 30 Jun 18 30 Jun 17
$'000 $'000
=============================================== ===== ============ ===========
Expenses
Accounting and audit (47) (6)
Consultants (267) (278)
Exploration and evaluation 3a (3,700) (1,412)
Legal and Company Secretarial (150) (3)
General and administrative (252) (203)
Depreciation (9) (18)
Employee benefits (1,169) (668)
Share based compensation 7e (242) (97)
(5,836) (2,685)
------------ -----------
Other items
Foreign exchange loss (355) (37)
Gain on sale of subsidiary 3c - 708
(355) 671
------------ -----------
Net loss (6,191) (2,014)
Total comprehensive loss for the year (6,191) (2,014)
------------------------------------------------ ----- ------------ -----------
Net loss attributable to:
Equity holders of the parent (6,040) (2,014)
Non-controlling interests (151) -
Total comprehensive loss attributable to:
Equity holders of the parent (6,040) (2,014)
Non-controlling interests (151) -
Basic and diluted loss per common share (0.01) (0.00)
------------------------------------------------ ----- ------------ -----------
Weighted average number of shares outstanding
(thousands) 878,224 711,765
------------------------------------------------ ----- ------------ -----------
Asiamet Resources Limited - Unaudited Cash Flow Statement for the six months ended 30 June 2018
For the 6 months ended
Note 30 Jun 18 30 Jun 17
$'000 $'000
============================================= ===== ============ ===========
Cash provided from (used for):
Operating activities
Loss for the year (6,191) (2,014)
Adjustment for:
Depreciation 9 18
Share based compensation 242 97
Unrealised foreign exchange losses 1 -
Gain on sale of subsidiary - (708)
Changes in non-cash working capital:
Receivables and other assets (30) (155)
Value Added Tax ("VAT") (7) -
Trade and other payables 83 (303)
Provision for employee service entitlements 40 -
------------ -----------
(5,853) (3,065)
------------ -----------
Investing activities
Security deposits - (6)
Purchase of property, plant and equipment (198) (7)
Payment for additional investment in (3,246) -
Beutong Resources
Proceeds on sale of subsidiary, net
of cash sold 3c - 699
------------ -----------
(3,444) 686
------------ -----------
Financing activities
(Repayment of) Proceeds from related
party loans - (233)
Proceeds from exercise of options and
warrants 801 801
Proceeds from equity raising 10,082 201
Equity raising costs (663) -
10,220 769
------------ -----------
Increase (Decrease) in cash 928 (1,610)
Cash at beginning of the year 3,079 1,747
Cash at end of the six months 4,007 137
---------------------------------------------- ----- ------------ -----------
Asiamet Resources Limited - Unaudited Statement of Changes in Equity for the six months ended 30 June 2018
Attributable to equity holders of the parent
---------
Number Other
of Share Equity Comprehensive Accumulated Non-Controlling
shares capital reserves Loss Deficit Total Interests Total
'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000
Balance at 1
January
2017 709,940 7,060 33,323 (2) (38,791) 1,590 (7) 1,583
Warrant
exercises 5,416 54 147 - - 201 - 201
Share based
compensation - - 97 - - 97 - 97
Cancelled (3) - -
shares
Loss for the
year - - - - (2,014) (2,014) - (2,014)
Contribution - - - - - - - -
by parent
in NCI
Balance at 30
June 2017 715,353 7,114 33,567 (2) (40,805) (126) (7) (133)
--------------- --------- --------- -------------- ------------ --------
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 2,147 21 82 - - 103 - 103
Option
exercises 8,350 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)
Contribution
by parent
in NCI - - - - (151) (151) 151 -
Other
transactions
with NCI - - - - - - (3,246) (3,246)
Balance at 30
June 2018 932,663 9,287 49,749 (12) (52,484) 6,540 (3,252) 3,287
--------------- --------- --------- -------------- ------------ --------
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 LAMLTMBATMIP
(END) Dow Jones Newswires
September 25, 2018 06:00 ET (10:00 GMT)
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