TIDMNBR
RNS Number : 8199R
Namibian Resources PLC
09 November 2011
For immediate release 9 November 2011
NAMIBIAN RESOURCES PLC
UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST
2011
Namibian Resources Plc ("the Company") is pleased to announce
its interim results for the six months ending 31 August 2011.
CHAIRMAN'S STATEMENT
As previously advised our mining operations were suspended on
the 10(th) august due to health and safety matters not relating to
our operations.
Production for the five month period until suspension on 10(th)
August 2011 was 338 stones for a total of 143--25 carats with an
average stone size of --42 carats. The conversion of Director's
loans into equity will assist our endeavours to raise capital and
mining operations restarted as previously advised.
Lord Sheppard
Chairman
Enquires
Tony Carlton - Chief Executive Officer - Tel: 020 8726 0900
Roland Cornish - Beaumont Cornish - Tel: 020 7628 3396
Simon Frost / Priscilla Ross - Keith Bayley Rogers & Co
Limited - Tel: 0203 100 8300
NAMIBIAN RESOURCES P.L.C.
INTERIM RESULTS
FOR 6 MONTHS ENDED 31 AUGUST 2011
6 Months 6 Months
Summarised Income Statement Ended Ended Year Ended
31-Aug-11 31-Aug-10 28-Feb-11
(Unaudited) (Unaudited) (Audited)
GBP GBP GBP GBP GBP GBP
Turnover 12,427 24,756 52,845
Cost of Sales 138,820 (66,905) 349,250
------------ -------------- --------------
Gross (Loss) (126,393) (42,149) (296,405)
Administrative Expenses (40,891) (181,591) (120,906)
------------ -------------- --------------
Operating (Loss) (167,284) (223,740) (417,311)
Interest Received - 57 72
Interest Payable - - -
------------ -------------- --------------
Net (Loss) for the
period (167,284) (223,683) (417,239)
============ ============== ==============
(Loss) per
Share (0.41) (0.56) (1.03)
Total Number of Shares
in Issue 44,302,852 39,922,460 44,302,852
NAMIBIAN RESOURCES P.L.C.
INTERIM RESULTS
FOR 6 MONTHS ENDED 31 AUGUST 2011
6 Months 6 Months
Summarised Balance Sheet Ended Ended Year Ended
31 August 31 August 28 February
2011 2010 2011
(Unaudited) (Unaudited)
GBP GBP (Audited) GBP
GBP GBP GBP
ASSETS
Non - Current
Assets 2,107,136 2,004,356 2,155,015
-------------- -------------- ----------------
Property, Plant & Equipment 1,072,884 980,704 1,117,183
Intangible Assets & Exploration
Costs
- Mining Rights 1,034,252 1,023,652 1,037,832
Current Assets
-
Inventories 9,263 44,438 9,263
Trade & Other Receivables 17,622 47,387 49,546
Cash and Cash Equivalents 13,614 10,819 10,589
-------------- -------------- ----------------
40,499 102,644 69,398
-------------- -------------- ----------------
Total Assets 2,147,635 2,107,000 2,224,413
============== ============== ================
Equity
Share Capital 4,036,050 3,992,246 4,036,050
Share Premium Accounts 589,355 359,384 589,355
Retained Earnings (3,875,532) (3,514,692) (3,708,248)
Currency Translation
Reserve 679,835 527,180 679,835
-------------- -------------- ----------------
Total Equity 1,429,708 1,364,118 1,596,992
Current Liabilities
Trade & Other Payables 717,927 742,882 627,421
-------------- -------------- ----------------
Total Liabilities 2,147,635 2,107,000 2,224,413
============== ============== ================
NOTES TO THE FINANCIAL INFORMATION
The interim results are unaudited and do not comprise full
1. accounts within the meaning of
the Companies Act 2006.
2. No interim dividend is being paid or proposed.
Earnings per share have been calculated on ordinary shares
3. in issue.
NAMIBIAN RESOURCES P.L.C.
INTERIM RESULTS
FOR 6 MONTHS ENDED 31 AUGUST 2011
6 Months 6 Months
Cash Flow Statement Ended Ended Year Ended
31 August 31 August 28 February
2011 2010 2011
(Unaudited) (Unaudited) (Audited)
GBP GBP GBP
GBP GBP GBP
Net Cash inflow/(outflow) from
Operating Activities
Operating (Loss) (167,284) (223,740) (417,239)
Depreciation of Tangible & Intangible
Assets 47,879 84,705 116,674
(Increase)/Decrease
in Debtors 31,924 (7,492) (9,651)
(Decrease)/Increase
in Creditors 90,506 105,629 (9,832)
Decrease/(Increase)
in stock - (6,918) 28,257
Net Effect of Foreign Exchange
Differences - 52,100 22,055
------------ ------------ ---------------
3,025 4,284 (269,736)
Returns on Investment & Servicing
of Finance
Interest Received - 57 72
Capital Expenditure
Payments to Acquire Tangible
Fixed Assets - - -
Payments to Acquire Intangible
Fixed Assets - - -
------------ ------------ ---------------
Net Cash inflow/(outflow) before
management
of Liquid Resources
& Financing 3,025 4,341 (269,664)
============ ============ ===============
Financing -
Increase/(Decrease) in Cash&
Cash Equivalents
during the
period 3,025 4,341 (269,664)
============ ============ ===============
This information is provided by RNS
The company news service from the London Stock Exchange
END
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