Wednesday 11 November, 2009
Namibian Resources
Interim Results for six month
RNS Number : 3464C Namibian Resources PLC 11 November 2009
FOR IMMEDIATE RELEASE 11 NOVEMBER 2009
NAMIBIAN RESOURCES PLC
INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2009
Namibian Resources PLC ("the Company") is pleased to announce its interim results for the six months ending 31 August 2009.
CHAIRMANS STATEMENT
I am pleased to announce the unaudited interim results for the six months ending on the 31st August 2009. We reported the current position in our progress report of 15th October 2009 and we will report further in due course.
Lord Sheppard KCVO Kt
Chairman
Enquiries
Tony Carlton - Chief Executive - Tel: 020 8726 0900
Oliver Plummer - Finance Director - Tel: 020 7381 0100
Roland Cornish - Beaumont Cornish Limited - Tel 020 7628 3396
Simon Frost
Priscilla Ross - Keith Bayley Rogers & Co Limited -Tel: 0203 100 8300
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NAMIBIAN RESOURCES P.L.C.
|
|
|
|
|
|
|
|
|
|
|
|
INTERIM RESULTS
|
|
FOR 6 MONTHS ENDED 31 AUGUST 2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Summarised Income Statement
|
6 Months Ended
|
|
6 Months Ended
|
|
Year Ended
|
|
|
|
|
|
31-Aug-09
|
|
31-Aug-08
|
|
28-Feb-09
|
|
|
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Audited)
|
|
|
|
|
|
GBP £
|
|
GBP £
|
|
GBP £
|
|
|
|
|
|
|
|
|
|
|
|
Turnover
|
|
|
|
0
|
|
71,782
|
|
127,580
|
|
Cost of Sales
|
|
|
0
|
|
(100,095)
|
|
(414,848)
|
|
|
|
|
|
|
|
|
|
|
|
Gross (Loss)
|
|
|
0
|
|
(28,313)
|
|
(287,268)
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses
|
|
(192,700)
|
|
(168,123)
|
|
(206,506)
|
|
|
|
|
|
|
|
|
|
|
|
Operating (Loss)
|
|
|
(192,700)
|
|
(196,436)
|
|
(493,774)
|
|
|
|
|
|
|
|
|
|
|
|
Interest Received
|
|
|
141
|
|
375
|
|
1,289
|
|
Interest Payable
|
|
|
-
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
Net (Loss) for the period
|
|
(192,559)
|
|
(196,061)
|
|
(492,485)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) per Share
|
|
|
(0.48)
|
|
(0.49)
|
|
(1.23)
|
|
Total Number of Shares in Issue
|
|
39,922,460
|
|
39,922,460
|
|
39,922,460
|
|
|
|
|
|
|
|
|
|
|
|
NAMIBIAN RESOURCES P.L.C.
|
|
|
|
|
|
|
|
|
|
|
|
INTERIM RESULTS
|
|
|
|
|
|
|
|
|
|
|
|
FOR 6 MONTHS ENDED 31 AUGUST 2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Summarised Balance Sheet
|
|
6 Months Ended
|
|
6 Months Ended
|
|
Year Ended
|
|
|
|
|
|
31 August 2009
|
|
31 August 2008
|
|
28 February 2009
|
|
|
|
|
|
(Unaudited) GBP
|
|
(Unaudited) GBP
|
|
(Audited) GBP
|
|
|
|
|
|
£
|
|
£
|
|
£
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
Non - Current Assets
|
|
|
1,769,302
|
|
1,864,648
|
|
1,828,283
|
|
|
|
|
|
|
|
|
|
|
|
Property, Plant & Equipment
|
|
856,639
|
|
910,325
|
|
913,712
|
|
Intangible Assets & Exploration Costs
|
|
|
|
|
|
|
- Mining Rights
|
|
|
912,663
|
|
954,323
|
|
914,571
|
|
|
|
|
|
|
|
|
|
|
|
Current Assets -
|
|
|
|
|
|
|
|
|
Inventories
|
|
|
31,967
|
|
32,673
|
|
31,967
|
|
Trade & Other Receivables
|
|
32,853
|
|
30,304
|
|
36,165
|
|
Cash and Cash Equivalents
|
|
5,189
|
|
53,737
|
|
36,739
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
70,009
|
|
116,714
|
|
104,871
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets
|
|
|
1,839,311
|
|
1,981,362
|
|
1,933,154
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity
|
|
|
|
|
|
|
|
|
|
Share Capital
|
|
|
3,992,246
|
|
3,992,246
|
|
3,992,246
|
|
Share Premium Accounts
|
|
359,384
|
|
359,384
|
|
359,384
|
|
Retained Earnings
|
|
|
(3,194,215)
|
|
(2,705,232)
|
|
(3,001,656)
|
|
Foreign Exchange Reserve
|
|
176,507
|
|
99,562
|
|
176,507
|
|
|
|
|
|
|
|
|
|
|
|
Total Equity
|
|
|
1,333,922
|
|
1,745,960
|
|
1,526,481
|
|
|
|
|
|
|
|
|
|
|
|
Current Liabilities
|
|
|
|
|
|
|
|
|
Trade & Other Payables
|
|
505,389
|
|
235,402
|
|
406,673
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities
|
|
|
1,839,311
|
|
1,981,362
|
|
1,933,154
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NOTES TO THE FINANCIAL INFORMATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1.
|
The interim results are unaudited and do not comprise full accounts within the meaning of
|
|
|
Section 240 of the Companies Act 1985.
|
|
|
|
|
|
2.
|
No interim dividend is being paid or proposed.
|
|
|
|
|
|
3.
|
Earnings per share have been calculated on ordinary shares in issue.
|
|
|
|
|
|
|
|
|
|
|
|
|
NAMIBIAN RESOURCES P.L.C.
|
|
|
|
|
|
|
|
|
|
|
|
INTERIM RESULTS
|
|
|
|
|
|
|
|
|
|
|
|
FOR 6 MONTHS ENDED 31 AUGUST 2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash Flow Statement
|
|
6 Months Ended
|
|
6 Months Ended
|
|
Year Ended
|
|
|
|
|
|
31 August 2009
|
|
31 August 2008
|
|
29 February 2009
|
|
|
|
|
|
(Unaudited) GBP
|
|
(Unaudited) GBP
|
|
(Audited) GBP
|
|
|
|
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
|
Net Cash inflow/(outflow) from Operating Activities
|
|
|
|
|
|
|
Operating (Loss)
|
|
|
(192,700)
|
|
(196,436)
|
|
(493,774)
|
|
Depreciation of Tangible & Intangible Assets
|
107,468
|
|
71,808
|
|
209,396
|
|
(Increase)/Decrease in Debtors
|
|
3,312
|
|
(3,941)
|
|
(9,802)
|
|
(Decrease)/Increase in Creditors
|
|
98,716
|
|
184,282
|
|
355,553
|
|
Decrease/(Increase) in stock
|
|
-
|
|
-
|
|
706
|
|
Net Effect of Foreign Exchange Differences
|
-
|
|
-
|
|
(46,625)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16,796
|
|
55,713
|
|
15,454
|
|
Returns on Investment & Servicing of Finance
|
|
|
|
|
|
|
Interest Received
|
|
|
141
|
|
375
|
|
1,289
|
|
|
|
|
|
|
|
|
|
|
|
Capital Expenditure
|
|
|
|
|
|
|
|
|
Payments to Acquire Tangible Fixed Assets
|
-
|
|
(5,757)
|
|
(35,605)
|
|
Payments to Acquire Intangible Fixed Assets
|
(48,487)
|
|
(100,094)
|
|
(47,809)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Cash (outflow) before management
|
|
|
|
|
|
|
of Liquid Resources & Financing
|
|
(31,550)
|
|
(49,763)
|
|
(66,671)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Decrease) in Cash& cash Equivalents
|
|
|
|
|
|
|
during the period
|
|
|
(31,550)
|
|
(49,763)
|
|
(66,761)
|
This information is provided by RNS
The company news service from the London Stock Exchange END IR BDBDBLBBGGCB
|
|