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par VVV Resources Limited (isin : VGG9470B1004)

VVV Resources Limited: Interim Results for the six months ended 30 June 2023

VVV Resources Limited (VVV)
VVV Resources Limited: Interim Results for the six months ended 30 June 2023

28-Sep-2023 / 14:00 GMT/BST


 

VVV Resources Limited

("VVV” or the “Company”)

 

Interim Results for the six months ended 30 June 2023

 

VVV Resources Limited (formerly Veni Vidi Vici Limited) announces its unaudited interim results for the six months ended 30 June 2023.

 

OVERVIEW

 

The Company’s goals for the six months to 30 June 2023 were to continue its endeavours to acquire suitable mineral projects in user-friendly jurisdictions The Company has reviewed a number of exploration opportunities during the reporting period; some of these do not fit our investment strategy; others do. An update on this is expected shortly.

 

The past six months has continued to be a period of global uncertainty, volatility and conflict and the ongoing war between Russia and Ukraine continues to cause significant direct and indirect consequences.

 

The Company’s only current asset continues to be a 51% holding in the Shangri La polymetallic project in Western Australia. All work commitments for this project are currently up to date.

 

Director changes have occurred during the past six months; Jim Williams became Executive Chairman during June and Malcolm Macleod departed the Board in August. Currently the Board comprises two directors, Mahesh Pulandaran as a Non-Executive and Jim Williams as an Executive.

 

The Board remains confident that the private and pre-IPO markets remain significantly under-served and as such significant opportunities exist for the Company going forward.

 

We would like to thank all our shareholders for their continued support and look forward to updating you on further news in due course.

 

 

Eur. Ing. Jim Williams, MSc, D.I.C., CEng, CGeol, FIMMM

 

Executive Chairman

 

 

FINANCE REVIEW

The loss for the period to 30 June 2023 was £62,000 (30 June 2022 - £ 77,000 and 31 December 2022 - £156,000 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 2023, the Company had cash balances of £159,000 (30 June 2022 - £ 17,000 and 31 December 2022 - £208,000).

The interim accounts to 30 June 2023 have not been reviewed by the Company’s auditors.

 

The Directors of the Company accept responsibility for the contents of this announcement.

 

For further information please contact:

 

The Company

Jim Williams

 

 

+44 (0) 7774274836

 

AQSE Growth Market Corporate Adviser:

Peterhouse Capital Limited

Guy Miller/Mark Anwyl

 

+44 (0) 20 7469 0936

 

Unaudited Condensed Group Statement of Comprehensive Income
for the six months ended 30 June 2023

 

 

 

Consolidated

Company

Company

 

 

6 months to

6 months to

Year ended

 

 

30 June

2023

30 June

2022

31 December

2022

 

 

Unaudited

Unaudited

Audited

 

Notes

£’000

£’000

£’000

Continuing operations

 

 

 

 

Revenue

 

 

 

 

Investment income

 

-

-

-

Total gains on AFS investments

 

-

-

-

 

 

 

 

 

Administrative costs

 

(62)

(77)

(139)

Loss Allowance for loan

 

-

-

(17)

 

 

 

 

 

Operating (loss)

 

(62)

(77)

(156)

 

 

 

 

 

Finance costs

 

-

-

-

(Loss) before tax

 

(62)

(77)

(156)

 

 

 

 

 

Taxation

 

-

-

-

(Loss) for the period

 

(62)

(77)

(156)

 

 

 

 

 

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 company

 

(62)

(77)

(156)

 

 

 

 

 

(Loss) per share:

 

 

 

 

Basic and diluted (loss) per share (pence)

2

(1.98)

(4.09)

(7.46)

 

Unaudited Condensed Group Statement of Financial Position
as at 30 June 2023

 

 

 

Group

Company

Company

 

 

30 June

2023

30 June

2022

31 December

2022

 

 

Unaudited

Unaudited

Audited

 

Notes

£’000

£’000

£’000

ASSETS

 

 

 

 

Non-current assets

 

 

 

 

Investments accounted for using the equity method

 

136

136

136

 

 

136

136

136

 

 

 

 

 

Current assets

 

 

 

 

Trade and other receivables

 

19

34

23

Cash and cash equivalents

 

159

17

208

 

 

178

51

231

 

 

 

 

 

Total assets

Voir toutes les actualités de VVV Resources Limited