TIDMNBR
RNS Number : 6146R
Namibian Resources PLC
20 November 2012
For immediate release 20 November 2012
NAMIBIAN RESOURCES PLC
UNAUDITED INTERIM RESULTS
FOR THE SIX MONTHS ENDED 31 AUGUST 2012
Namibian Resources Plc ("the Company") is pleased to announce
its interim results for the six months ending 31 August 2012.
CHAIRMAN'S STATEMENT
Production has been disappointing for the first six months due
to operational difficulties. However negotiations are continuing to
acquire and finance a company to expand our operations. These
negotiations should be concluded shortly and an announcement will
be made at the appropriate time.
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 PLC
INTERIM RESULTS
FOR THE 6 MONTHS ENDED 31 AUGUST 2012
6 Months 6 Months
Summarised Income Statement Ended Ended Year Ended
31-Aug-12 31-Aug-11 28-Feb-12
(Unaudited) (Unaudited) (Audited)
GBP GBP GBP GBP GBP GBP
Turnover 25,705 12,427 13,629
Cost of Sales - (138,820) -
------------ ------------ -----------
Gross (Loss) 25,705 (126,393) 13,629
Administrative Expenses (202,862) (40,891) (343,872)
------------ ------------ -----------
Operating (Loss) (177,157) (167,284) (330,243)
Interest Received - - -
Interest Payable - - -
------------ ------------ -----------
Net (Loss) for the
period (177,157) (167,284) (330,243)
============ ============ ===========
(Loss) per
Share (0.33) (0.41) (0.65)
Total Number of Shares
in Issue 61,821,352 44,302,852 61,821,352
NAMIBIAN RESOURCES PLC
INTERIM RESULTS
FOR THE 6 MONTHS ENDED 31 AUGUST 2012
6 Months 6 Months
Summarised Balance Sheet Ended Ended Year Ended
31 August 31 August 28 Feb
2012 2011 2012
(Unaudited) (Unaudited) (Audited)
GBP GBP GBP
GBP GBP GBP
ASSETS
Non - Current
Assets 1,873,355 2,107,136 1,929,122
------------ ------------ ------------
Property, Plant & Equipment 1,008,961 1,072,884 1,028,789
Intangible Assets & Exploration
Costs
- Mining Rights 864,394 1,034,252 900,333
Current Assets
-
Inventories 8,816 9,263 4,378
Trade & Other Receivables 60,429 17,622 53,745
Cash and Cash Equivalents 23,755 13,614 15,301
------------ ------------ ------------
93,000 40,499 73,424
------------ ------------ ------------
Total Assets 1,966,355 2,147,635 2,002,546
============ ============ ============
Equity
Share Capital 4,211,235 4,036,050 4,211,235
Share Premium Accounts 1,027,317 589,355 1,027,317
Retained Earnings (4,215,648) (3,875,532) (4,038,491)
Currency Translation
Reserve 503,827 679,835 503,827
------------ ------------ ------------
Total Equity 1,526,731 1,429,708 1,703,888
Current Liabilities
Trade & Other Payables 439,624 717,927 298,658
------------ ------------ ------------
Total Liabilities 1,966,355 2,147,635 2,002,546
============ ============ ============
NOTES TO THE FINANCIAL INFORMATION
The interim results are unaudited and do not comprise
1. full 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
3. shares in issue.
NAMIBIAN RESOURCES PLC
INTERIM RESULTS
FOR THE 6 MONTHS ENDED 31 AUGUST 2012
Cash Flow Statement
6 Months 6 Months
Ended Ended Year Ended
31 August 31 August 28 February
2012 2011 2012
(Unaudited) (Unaudited) (Audited)
GBP GBP GBP
GBP GBP GBP
Net Cash inflow/(outflow) from
Operating Activities
Operating (Loss) (177,157) (167,284) (330,243)
Depreciation of Tangible & Intangible
Assets 55,767 47,879 88,678
(Increase)/Decrease
in Debtors (6,684) 31,924 (4,199)
(Decrease)/Increase
in Creditors 140,966 90,506 (328,763)
Decrease/(Increase)
in stock (4,438) - 4,885
Net Effect of Foreign Exchange
Differences - - (38,793)
------------ ------------ ------------
8,454 3,025 (608,435)
Returns on Investment & Servicing
of Finance
Interest Received - - -
Capital Expenditure
Payments to Acquire Tangible
Fixed Assets - - -
Payments to Acquire Intangible
Fixed Assets - - -
------------ ------------ ------------
Net Cash inflow/(outflow) before
management
of Liquid Resources
& Financing 8,454 3,025 (608,435)
============ ============ ============
Financing -
Increase/(Decrease) in Cash&
Cash Equivalents
during the
period 8,454 3,025 (4,712)
Proceeds of Issue
of Shares - - 613,147
------------ ------------ ------------
8,454 3,025 608,435
============ ============ ============
This information is provided by RNS
The company news service from the London Stock Exchange
END
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