5 March 2021

Red Emperor Resources NL

Half Year Report for the Six Months Ended 31 December 2020

The Board of Red Emperor Resources NL (ASX/AIM: RMP) ("RMP", "Red Emperor" or the "Company") is pleased to announce the Company's unaudited consolidated interim results for the 6 months to 31 December 2020.

Please see below extracts from the Company's Half Year Report for the period ended 31 December 2020, being the:

-       Directors' Report

-       Consolidated Statement of Profit or Loss and Other Comprehensive Income

-       Consolidated Statement of Financial Position

-       Consolidated Statement of Changes in Equity

-       Consolidated Statement of Cash Flows

A copy of the full Half Year Report is available on the Company's website - www.redemperorresources.com

For further information, please visit www.redemperorresources.com or contact:

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.

Directors' Report

The Directors are pleased to present their report for Red Emperor Resources NL ("Red Emperor" or the "Company") and its subsidiaries (the "Group") for the half-year ended 31 December 2020 (the "Period").

DIRECTORS

The persons who were directors of Red Emperor during the half-year and up to the date of this report are:

·      Greg Bandy (Managing Director)

·      Aaron Bertolatti (Director & Company Secretary)

·      Jason Bontempo (Non-Executive Director)

REVIEW OF OPERATIONS

Corporate

During the reporting period, Red Emperor continued to evaluate potential deal opportunities, primarily in the global oil and gas sector. While mainly focused on exploration projects, the Board has continued to be very mindful of protecting the Company's balance sheet and by extension, shareholder value.

There were also a number of potential projects considered during the period in the wider natural resources sector outside of oil and gas cognisant that pursuant to AIM Rule 15, the Company is required to make an acquisition, or acquisitions, which constitute(s) a reverse takeover under AIM Rule 14, or alternatively seek re-admission to trading on AIM as an investing company pursuant to AIM Rule 8 (either being a "Re-admission Transaction"), either of which would require, inter alia, the preparation and publication of an AIM admission document and a full re-admission process. If a Re-admission Transaction is not completed by 20 July 2021 admission to trading on AIM of the Company's ordinary shares will be cancelled pursuant to AIM Rule 41. 

The Company has recently made an application to ASX in respect of a proposed transaction under ASX Listing Rule 11.1, which is under consideration, and the Company's ordinary shares remain suspended from trading on both ASX and AIM.

SIGNIFICANT EVENTS AFTER THE REPORTING DATE

There have been no significant events subsequent to the end of the reporting period to the date of this report which significantly affect the operations of the Group, the results of those operations or the state of affairs of the Group in future reporting periods.

AUDITOR'S INDEPENDENCE DECLARATION

Section 307C of the Corporations Act 2001 requires the Company's auditors to provide the Directors of the Company with an Independence Declaration in relation to their review of the interim financial report.  This Independence Declaration is set out on page 3 of the full Half Year Report and forms part of this Directors' report for the half-year ended 31 December 2020.

This report is signed in accordance with a resolution of the Board of Directors made pursuant to section 306(3) of the Corporations Act 2001.

Signed on behalf of the board in accordance with a resolution of the Directors.

Greg Bandy

Managing Director

Perth, Western Australia

5 March 2021

Consolidated Statement of Profit or Loss and Other Comprehensive Income

for the half-year ended 31 December 2020

The above Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the accompanying notes in the full Half Year Report.

Consolidated Statement of Financial Position

as at 31 December 2020

The above Consolidated Statement of Financial Position should be read in conjunction with the accompanying notes in the full Half Year Report.

Consolidated Statement of Changes in Equity

for the half-year ended 31 December 2020

The above Consolidated Statement of Changes in Equity should be read in conjunction with the accompanying notes in the full Half Year Report.

Consolidated Statement of Cash Flows for the half-year ended 31 December 2020

The above Consolidated Statement of Cash Flows should be read in conjunction with the accompanying notes in the full Half Year Report.