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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Imc Exploration Group Plc | LSE:IMC | London | Ordinary Share | IE00B6WC2H62 | ORD EUR0.001 (CDI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.50 | 0.45 | 0.55 | 0.50 | 0.50 | 0.50 | 0.00 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Gold Ores | 1.63M | -147k | -0.0002 | -25.00 | 3.43M |
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TIDMIMC
THE DIRECTORS OF IMC EXPLORATION GROUP PLC CONSIDER THIS ANNOUNCEMENT TO
CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO.
596/2014 OF THE EUROPEAN PARLIAMENT AND THE COUNCIL OF 16 APRIL 2014 ON MARKET
ABUSE AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018 (THE "MARKET ABUSE REGULATION"). UPON THE PUBLICATION OF
THIS ANNOUNCEMENT THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN.
RESULTS FOR THE PERIOD 1st JULY 2022 TO 31st DECEMBER 2022
IMC Exploration Group Public Limited Company
("IMC" or the "Company")
Chairman's Statement
The Directors of IMC are pleased to present the Company's unaudited,
consolidated, interim financial results for the first six-month period ended
31st December 2022 of its current financial year running from 1st July 2022 to
30th June 2023.
IMC views its strategic licence holding to be amongst the most prospective
exploration licences currently available in Ireland. Commodity prices have
powered ahead in the last six months, with the price of copper reaching an
all-time high. The availability of copper will play a vital role in the
achievement of global national climate objectives signed up to in the Paris
agreement. Demand for copper is already being reflected in its surging price
and IMC hopes to be part of the copper supply chain. The Avoca Copper mine is
situated on IMC's licence area along with its spoils and tailings project in
Avoca, Co. Wicklow. Following the conclusion of the CSA Global Mineral
Resource Estimate for East Avoca, IMC's last drill programme focused on
exploring the unmined, south-western extension of the Avoca Cu-Zn-Pb-Ag-Au
deposit with encouraging positive results as reported previously. IMC is
scheduled to carry out a further series of trial pits in order to complete the
geological model.
The price of gold has been at its strongest in recent months, as demand for
gold surges across the world. Gold is playing its age-old role as a safe haven
in times of high inflation and geopolitical uncertainty. IMC again is very
focused on its Avoca and North Wexford gold projects, in addition to its spoils
and tailings project.
IMC has just received approval for its Spring drilling programme from the
Geoscience Regulation Office of the Department of Climate, Environment and
Communications. This is very positive news and allows IMC to continue with its
drill programme on its North Wexford Gold project.
IMC's successful collaboration with Trinity College Dublin, Ireland, continues
and we will be announcing a full programme of work in the coming weeks.
IMC previously announced that it had conditionally agreed to acquire MVI
Ireland s.r.o., the 100% owner of the Assat company in Armenia which is the
holder of the mining license for the Karaberd gold mine located in Lori Marz,
northern Armenia. As reported to the market on 31st October 2022 the nature of
the acquisition has changed and IMC, rather than acquiring a company possessed
of a mining licence, is now acquiring the owner of an operating gold mine. The
conditional agreement remains in place and we expect to complete the
acquisition in due course.
This is an excellent time for gold, silver, copper and zinc with the current
high commodity prices. The Directors look forward to reporting further results
from our exploration programme and on progress towards completion of the MVI
Ireland s.r.o. acquisition.
Eamon O'Brien,
Executive Chairman,
Dublin, 28th February 2023
IMC Exploration Group Public Limited Company
Consolidated Statement of Comprehensive Income
for the period 1st July 2022 to 31st December 2022
Continuing
Operations
Dec'22 Jun'22
Administrative expenses (11,015) (260,796)
Operating Loss for the period (11,015) (260,796)
Finance Income - -
Amount written off Intangible Assets - (260,796)
Amount written off investment - -
__________ __________
Loss for period before tax (11,015) (260,796)
Income tax expenses - -
_________ _________
Total comprehensive loss for the period (11,015) (260,796)
========= =========
Loss attributable to:
Equity holders of the Company (11,015) (260,796)
========= =========
Total Comprehensive Loss attributable to:
Equity holders of the Company (11,015) (260,796)
========= =========
Earnings per share
From continuing operations
Basic and Diluted loss per share (cent) 0.0 0.1
All activities derived from continuing operations. All losses and total
comprehensive losses for the period are attributable to the owners of the
Company.
The Company has no recognised gains or losses other than those dealt with in
the statement of comprehensive income.
IMC Exploration Group Public Limited Company
Consolidated Statement of Financial Position
As at 31st December 2022
Dec'22 Jun'22
Assets
Intangible assets 635,291 627,791
Property, plant and equipment 1,398 1,850
Investments - -
__________ __________
Total Non-Current Assets 636,689 629,641
__________ __________
Current Assets
Trade and other receivables 34,447 10,987
Cash and cash equivalents 101,420 23,399
__________ __________
Total Current Assets 135,867 34,386
__________ __________
Total Assets 772,556 664,027
========= =========
Equity
Share Capital 349,589 349,589
Share premium 4,164,633 4,164,633
Retained deficit (4,509,370) (4,498,355)
__________ __________
Attributable to owners of the Company 4,852 15,867
__________ __________
Total Equity 4,852 15,867
__________ __________
Liabilities - Current
Trade and other payables 273,854 295,017
Current tax liabilities - -
__________ __________
Total Liabilities-Current 273,854 295,017
Liabilities - Non-Current
Loan 493,850 353,143
__________ __________
Total Liabilities-Current 493,850 353,143
__________ __________
Total Equity and Liabilities 772,556 664,027
IMC Exploration Group Public Limited Company
Consolidated Statement of Changes in Equity
for the period 1st July 2022 to 31st December 2022
Share Share Retained Total ?
Capital ? Premium ? Losses ?
Balance at 30 June 2021 349,589 4,164,633 (4,237,559) 276,663
___________ __________ _________ _______
Total comprehensive income for
the period
Loss for the period - - (260,796) (260,796)
__________ ___________ __________ _________
Total comprehensive income for - (260,796) (260,796)
the period
Transactions with owners,
recorded directly in equity
contributions by and
distributions to owners
Shares issued - - - -
Share issue costs - - - -
__________ ___________ __________ _________
Total transactions with owners - - - -
__________ ___________ __________ _________
Balance at 30 June 2022 349,589 4,164,633 (4,498,355) 15,867
__________ ___________ __________ _________
Total comprehensive income for
the period
Loss for the period - - (11,015) (11,015)
__________ ___________ __________ _________
Total comprehensive income for - (11,015) (11,015)
the period
Transactions with owners,
recorded directly in equity
contributions by and
distributions to owners
Shares issued - - - -
Share issue costs - - - -
__________ ___________ __________ _________
Balance at 31 December 2022 349,589 4,164,633 (4,509,370) 4,852
__________ ___________ __________ _________
IMC Exploration Group Public Limited Company
Consolidated Statement of Cash Flows
for the period 1st July 2022 to 31st December 2022
Dec'22 Jun'22
Cash flows from operating activities
Loss for the year (11,015) (260,796)
Adjustments for:
Intangible Assets Write Off - -
Income Tax recognised in profit and loss - -
Depreciation 452 904
________ ________
Cash from operations before changes in working (10,563) (259,892)
capital
Movement in trade and other receivables (23,460) 2,709
Movement in trade and other payables 119,544 420,447
_________ _________
Net cash flow from operating activities 85,521 163,264
Cash flows from investing activities
Capital Expenditure (7,500) (191,988)
_________ _________
Net cash (used in) investing activities (7,500) (191,988)
_________ _________
Cash flows from financing activities
Proceeds from the issue of new shares - -
Finance income/(expense) - -
_________ _________
Net cash generated by financing activities - -
_________ _________
Movement in cash and cash equivalents 78,021 (28,724)
Cash and cash equivalents at beginning of year 23,399 52,123
_________ _________
Cash and cash equivalents at end of year 101,420 23,399
The Directors of IMC, after due and careful enquiry, accept responsibility for
the contents of this announcement.
REGULATORY ANNOUNCEMENT ENDS.
Enquiries:
Keith, Bayley, Rogers & Co. Graham Atthill-Beck: +44 7506 43 41 07
Limited Graham.Atthill-Beck@kbrl.co.uk;
blackpearladvisers@gmail.com
Brinsley Holman: +44 7776 30 22 28
Brinsley.Holman@kbrl.co.uk
IMC Exploration Group plc Kathryn Byrne: +353 85 233 6033
END
(END) Dow Jones Newswires
February 28, 2023 04:17 ET (09:17 GMT)
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