VVV Resources Limited: Interim Results for the six months ended 30 June 2022
02 November 2022 - 8:00AM
UK Regulatory
VVV Resources Limited (VVV) VVV Resources Limited: Interim
Results for the six months ended 30 June 2022 02-Nov-2022 / 07:00
GMT/BST Dissemination of a Regulatory Announcement that contains
inside information in accordance with the Market Abuse Regulation
(MAR), transmitted by EQS Group. The issuer is solely responsible
for the content of this announcement.
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VVV Resources Limited
("VVV" or the "Company")
Interim Results for the six months ended 30 June 2022
VVV Resources Limited (formerly Veni Vidi Vici Limited)
announces its unaudited interim results for the six months ended 30
June 2022.
Overview
On the 24 March 2022 the Company had signed a conditional Share
Purchase Agreement ("SPA") with CASS FZE and Stella Investments
Limited (both private companies, incorporated and registered in the
United Arab Emirates) to acquire 100% of the entire issued share
capital of Anthony Vartkes Resources Limited, a BVI-registered
company. On completion of the SPA, VVV will hold a 100% interest in
the Mitterberg Copper Project in Austria and the remaining 49%
interest in the Shangri La polymetallic project in Western
Australia.
The Shangri La Project is a gold-copper-silver project
comprising a polymetallic hydrothermal quartz vein type deposit
covering an area of 10 hectares. The Shangri La Project is located
10 kilometres west of Kununurra, the central town of the Northeast
Kimberley region in Western Australia.
Mr Lester Kemp, David Rigoll & Simon Clarke have resigned as
Director in July & October 2022. At the same time, Mr Malcolm
Macleod & Jim Williams were appointed as Directors in September
and October 2022, respectively.
A number of projects in Western Australia are currently being
reviewed, and shareholders will be provided with further news on
these in the year end Report.
Financial Review
The loss for the period to 30 June 2022 was GBP77,000 (30 June
2021 - GBP 134,000 and 31 December 2021 - GBP431,000 loss) which
mainly related to share based payments, regulatory costs and other
corporate overheads. The total revenue for the period was nil. At
30 June 2022, the Company had cash balances of GBP17,000 (30 June
2021 - GBP 346,000 and 31 December 2021 - GBP87,000).
The interim accounts to 30 June 2022 have not been reviewed by
the Company's auditors.
Mahesh s/o Pulandaran
Director
31 October 2022
The directors of the Company accept responsibility for the
contents of this announcement.
For further information please contact:
The Company
Mahesh s/o Pulandaran +65 6438 8995
AQSE Growth Market Corporate Adviser:
Peterhouse Capital Limited
+44 (0) 20 7469 0936
Guy Miller/Mark Anwyl Unaudited Condensed Company Statement of Comprehensive Income for the six months ended 30 June 2022
6 months 6 months Year ended
to to
30 June 30 June 31
December
2022 2021
2021
Unaudited Unaudited Audited
Notes GBP'000 GBP'000 GBP'000
Continuing operations
Revenue
Investment income - - -
Total gains on AFS investments - - -
Administrative costs (77) (134) (431)
Share based payments - -
Operating (loss) (77) (134) (431)
Finance costs -
(Loss) before tax (77) (134) (431)
Taxation -
(Loss) for the period (77) (134) (431)
Other comprehensive income
Translation exchange (loss)/gain - - -
Other comprehensive income for the period net of taxation - - -
Total Comprehensive Income for the year attributable to the owners of the parent (77) (134) (431)
company
(Loss) per share:
Basic and diluted (loss) per share (pence) 2 (4.09) (7.12) (22.87) Unaudited Condensed Company Statement of Financial Position as at 30 June 2022
30 June 30 June
31 December 2021
2022 2021
Unaudited Unaudited Audited
Notes GBP'000 GBP'000 GBP'000
ASSETS
Non-current assets
Intangible assets 136 136 136
136 136 136
Current assets
Trade and other receivables 34 7 22
Cash and cash equivalents 17 346 87
51 353 109
Total assets 187 489 245
LIABILITIES
Current liabilities
Trade and other payables (116) (44) (97)
Total current liabilities (116) (44) (97)
Total liabilities (116) (44) (97)
Net Assets 71 445 148
EQUITY
Equity attributable to equity holders of the parent
Share capital - - -
Share premium account 863 863 863
Share based payment reserve 26 26 26
Retained earnings (818) (444) (741)
Total equity 71 445 148 Unaudited Condensed Company Statement of Changes in Equity for the six months ended 30 June 2022
Total
Share Share Retained attributable
Share based payment reserve
capital premium earnings to owners
of parent
Audited GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
At 31 December 2020 - 643 26 (310) 359
Loss for the period - - - (431) (431)
Total comprehensive income - - - (431) (431)
Issue of share capital - 220 - - 220
Transactions with owners of the company - 220 - - 220
At 31 December 2021 - 863 26 (741) 148
Unaudited
At 31 December 2021 - 863 26 (741) 148
Loss for the period - - - (77) (77)
Total comprehensive income for the period - - - (77) (77)
Issue of share capital - - - - -
Transactions with owners of the company - - - - -
Balance at 30 June 2022 - 863 26 (818) 71
Unaudited Condensed Company Statement of Cash Flows for the six months ended 30 June 2022
6 months to 6 months to Year to
30 June 30 June
31 December 2021
2022 2021
Unaudited Unaudited Audited
GBP'000 GBP'000 GBP'000
Cash flows from operating activities
Operating (loss) (77) (134) (431)
Adjustments for:
Share based payment charge - - -
Issue of shares to settle liabilities - - -
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