Source - RNS
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: [email protected]asiametresources.com

 

Tony Manini
Executive Chairman, Asiamet Resources Limited
Telephone: +61 3 8644 1300
Email: [email protected]asiametresources.com

 

FlowComms Limited

Sasha Sethi

Telephone: +44 (0) 7891 677 441

Email: [email protected]omms.com
 

Asiamet Resources Nominated Adviser

RFC Ambrian Limited

Andrew Thomson / Stephen Allen

Telephone: +61 8 9480 2500

Email: [email protected] / [email protected] 

 

Berenberg

Matthew Armitt, Sara MacGrath

Telephone: +44 20 3753 3142

Email: [email protected]

 

Liberum

Neil Elliot, Clayton Bush, Kane Collings

Telephone: +44 7773 322679

Email: [email protected]

 

Optiva Securities Limited

Christian Dennis

Telephone: +44 20 3137 1903

Email: [email protected]

 

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

 

 

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 Beutong Resources

 

(3,246)

-

 

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 of shares

 Share capital

Equity reserves

Other Comprehensive Loss

Accumulated Deficit

Total

Non-Controlling 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 shares

(3)

 -  

 -  

 

 

 

 

 

 

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

 

 

 


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