(LRL.L) Leyshon Resources Ltd Buy/Sell

RNS Number : 7756I Leyshon Resources Limited 18 March 2010

Leyshon Resources

("Leyshon" or the "Company")

Directors Dealings

18 March 2010

The Company was informed on 18 March 2010 that North Asia Metals Limited purchased 530,000 ordinary shares in the capital of the Company at a price of 10.5 pence per share. Mr Paul Atherley, a director of the Company, is a director and shareholder of North Asia Metals Limited. As a result of this transaction Mr Atherley has a beneficial interest in 29,530,000 ordinary shares in the capital of the Company, representing approximately 13.7% of the Company's entire issued share capital.

This information is provided by RNS The company news service from the London Stock Exchange

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RNS Number : 5591I Leyshon Resources Limited 15 March 2010

Leyshon Resources

("Leyshon" or the "Company")

Directors Dealings

15 March 2010

The Company was informed on 13 March 2010 that the estate of the late MJ Fletcher purchased 113,500 ordinary shares in the capital of the Company at a price of 10.56 pence per share. Mr John Fletcher, a director of the Company, is a beneficiary of the estate of the late MJ Fletcher. As a result of this transaction Mr Fletcher has a beneficial interest in 2,316,324 ordinary shares in the capital of the Company, representing approximately 1.1% of the Company's entire issued share capital.

This information is provided by RNS The company news service from the London Stock Exchange

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RNS Number : 9195H Leyshon Resources Limited 02 March 2010

Leyshon Resources Limited

Holding in Company

Leyshon Resources Limited ("Leyshon") (AIM & ASX: LRL) was informed on 26 February 2010 that Arredo Pty Ltd is interested in 15,000,000 ordinary shares in the Company, representing approximately 6.94 per cent of the issued share capital of the Company.

For further information contact: Leyshon ResourcesPaul Atherley - Managing Director Tel: +86 137 1800 1914

Mob: +61 417 475 038

Seymour PierceJonathan Wright Tel: +44 (0)207 107 8000

This information is provided by RNS The company news service from the London Stock Exchange

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RNS Number : 9042H Leyshon Resources Limited 02 March 2010

2 March 2010

LEYSHON RESOURCES LIMITED

Interim results for the half year ended 31 December 2009

$28 Million Profit on Zheng Guang Project Sale

Leyshon Resources Limited (AIM/ASX:LRL) is pleased to report a net operating profit after tax for the half-year ended 31 December 2009 of $27.20 million (2008: Net operating loss after tax of $2.95 million).

During the half year, the sale of the Company's 70% interest in the Zheng Guang project was completed and a profit of $28.4 million recognised. There were no advisory fees paid and legal and accountancy fees totalled $44,500.

As a result, the Company now has approximately $48 million held in cash and on term deposit in Australia. At current exchange rates this equates to approximately $0.22 per share.

Whilst the Company remains alive to a wide range of opportunities that meet the investment guidelines both within China and elsewhere, the current focus is on a broad region encompassing Northern China and Southern Mongolia.

The Company is specifically targeting and in some cases, undertaking detailed due diligence on,Coking Coal and Iron Ore projects.

Results from the first phase drill programme and testwork at the 51% owned QHD Iron Mountain project in the Tang Shan district of Hebei East China are currently being analysed. A review of the project is expected to be completed by the end of April.

Managing Director Paul Atherley commented: "The successful sale of Zheng Guang has put the Company in a very good position to identify investment opportunities located in a part of the world that is benefitting from very strong investment growth."

For further information contact:

Leyshon Resources Limited

Paul Atherley - Managing Director

Tel: +61 417 475 038 or China +86 137 1800 1914

patherley@leyshonresources.com

Seymour Pierce

Jonathan Wright

Tel: +44 (0)207 107 8000

http://www.leyshonresources.com

DIRECTORS' REPORT

The Board of Directors of Leyshon Resources Limited present their report on the consolidated entity of Leyshon Resources Limited ("the Company" or "Leyshon Resources") and its subsidiaries during the half-year ended 31 December 2009 ("Consolidated Entity").
DIRECTORS The names of the Directors of Leyshon Resources in office during the half-year and until the date of this report are:

John Fletcher

Paul C Atherley

Richard Seville

Andrew Berry

REVIEW AND RESULTS OF OPERATIONS

Operating Results

Net operating profit after tax attributable to members of the Consolidated Entity for the half-year ended 31 December 2009 was $27,202,335 (2008: Net operating loss after tax of $2,950,192).

Operations

Leyshon Resources Limited (AIM/ASX: LRL) (Company) is pleased to report that during the half year it completed the sale of its interest in the Zheng Guang project. There were no advisory fees paid and legal and accountancy fees totalled $44,500.

As a result the Company now has approximately $48 million held in cash and on term deposit in Australia and RMB1.98 million in Beijing. At current exchange rates this equates to approximately $0.22 per share.

Subsequent to the half year end, the Company announced its intention to commence an on market share buy-back of up to 21,800,000 fully paid ordinary shares. This equates to approximately 10% of the fully paid issued capital. Seymour Pierce in London and Blackswan Equities in Australia are handling the buy-back on the Company's behalf.

At the Annual General Meeting held in November, the Company received overwhelming support for the divestment of Zheng Guang and the proposed Investing Policy with approximately 25% of the issued capital being voted and of this 97% voting in favour of all resolutions.

The main thrust of the policy was that:

The Company proposes to draw on its six years experience in China and focus on acquiring and developing mineral and energy projects in those commodities and located in those countries which it believes will be of interest to Chinese mining and other groups for either offtake, partnership or sale.

The Company has received over 50 projects for review and is actively reviewing those that are considered to have the potential to meet the Company's investment criteria.

Whilst the Company remains alive to a wide range of opportunities that meet the investment guidelines both within China and elsewhere, the current focus is on a broad region encompassing Northern China and Southern Mongolia and specifically targeting primarily Coking Coal and Iron Ore.

The Company has quickly established excellent deal flow in these areas, building on existing long term relationships in some cases and in others creating the relationships and profile through introductions.

The Company has entered into a 51%:49% exploration and production joint venture with Qiqiha'r Tai Fu Trading Company Ltd on the QHD Iron Mountain project in the Tang Shan district of Hebei East China.

The Company is actively working on a number of other joint venture opportunities in Coking Coal and Iron Ore that have the potential to fit the criteria set out in the proposed investing policy.

Auditor's Independence Declaration

Section 307C of the Corporations Act 2001 requires our auditors, Deloitte Touche Tohmatsu, to provide the directors of Leyshon Resources Limited with an Independence Declaration in relation to the review of the half-year financial report. This Independence Declaration is on page 16 and forms part of this Directors' Report.

Signed in accordance with a resolution of Directors.

PAUL ATHERLEY

Director

Perth, 26 February 2010

DIRECTORS' DECLARATION

In accordance with a resolution of the directors on 26 February 2010 of Leyshon Resources Limited, the directors declare that:

In the opinion of the directors:
(a) the attached financial statements and notes thereto are in accordance

with the Corporations Act 2001, including: (i) section 304 (compliance with accounting standards and Corporations Regulations 2001); and
(ii) section 305 (true and fair view); and
(b) there are reasonable grounds to believe that the Company will be able to

pay its debts as and when they become due and payable.

On behalf of the Board

PAUL ATHERLEY

Director

Perth, 26 February 2010

CONDENSED CONSOLIDATED INCOME STATEMENT

FOR THE HALF-YEAR ENDED 31 DECEMBER 2009

Note Half-year Ended Half-year Ended
31 Dec 2009 31 Dec 2008
$ $

Continuing operations
Revenue 2 106,847 293,581
Other income - 4,092
Exploration expenses (146,218) (641,244)
Administration expenses (881,391) (980,532)
Business development expenses - (172,743)
Foreign exchange gains/(losses) (276,762) 148,234
Share based payments - (46,336)
(1,197,524) (1,394,948)

Loss before tax
Income tax expense - -
Loss for the period from continuing (1,197,524) (1,394,948)

operations Discontinued operations Profit/(loss) for the period from
discontinued operations 3 28,399,859 (1,555,244)
27,202,335 (2,950,192)

Profit/(Loss) attributable to members of Leyshon Resources Limited

Earnings Per Share From continuing and discontinued operations
Basic (cents per share) 12.45 (1.35)
Diluted (cents per share) 12.13 (1.35)

From continuing operations
Basic earnings per share (cents per (0.55) (0.64)

share)
Diluted earnings per share (cents per (0.55) (0.64)

share)

The above Condensed Consolidated Income Statement should be read in conjunction with the accompanying notes.

CONDENSED CONSOLIDATED STATEMENT OF

COMPREHENSIVE INCOME

FOR THE HALF-YEAR ENDED 31 DECEMBER 2009

Note Half-year Ended Half-year Ended
31 Dec 2009 31 Dec 2008
$ $
Profit/(loss) for the period 27,202,335 (2,950,192)

Other comprehensive income Exchange differences arising on
translation of foreign operations (488,917) 2,194,626

Other comprehensive income for the
period net of tax (488,917) 2,194,626

Total comprehensive income 26,713,418 (755,566)

attributable to members of Leyshon Resources Limited

The above Condensed Consolidated Income Statement should be read in conjunction with the accompanying notes.

CONDENSED CONSOLIDATED STATEMENT OF

FINANCIAL POSITION

AS AT 31 DECEMBER 2009

Note 31 Dec 2009 30 June 2009
$ $

Current Assets
48,300,493 3,918,963

Cash and cash equivalents
94,182 76,010

Trade and other receivables
35,861 14,078

Other
48,430,536 4,009,051
- 24,328,083

Assets classified as held for sale
48,430,536 28,337,134

Total Current Assets Non-Current Assets
Other financial assets at fair value 1 1

through profit and loss
14,999 14,999

Other financial assets
11,613 2,771

Property, plant and equipment
25,613 17,771

Total Non-Current Assets
TOTAL ASSETS 48,457,149 28,354,905

Current Liabilities
323,769 1,567,699

Trade and other payables
41,815 45,452

Provisions
365,584 1,613,151
Liabilities directly associated with - 5,363,607

assets held for sale
365,584 6,976,758

Total Current Liabilities
TOTAL LIABILITIES 365,854 6,976,758
NET ASSETS 48,091,565 21,378,147

64,552,218 64,552,218

Issued capital
1,373,173 2,430,810

Reserves
(17,833,826) (45,604,881)

Accumulated losses
TOTAL EQUITY 48,091,565 21,378,147

The above Condensed Consolidated Statement of Financial Position should be read in conjunction with the accompanying notes.

CONDENSED CONSOLIDATED STATEMENT OF

CHANGES IN EQUITY

FOR THE HALF-YEAR ENDED 31 DECEMBER 2009

Half-year Ended Half-year Ended
31 Dec 2009 31 Dec 2008
$ $

Issued Capital
Issued and paid up capital - at the beginning of the half-year 64,552,218 64,507,082

Transactions with equity holders in their capacity as equity holders:
Issue of shares as part of employee benefits - 46,336
Less share issue costs - (1,200)
- 45,136
Issued and paid up capital - at the end of the half-year 64,552,218 64,552,218

Employee Benefit Reserve
Balance at the beginning of the half-year 1,941,893 1,941,893

Transactions with equity holders in their capacity as equity holders:
Expiry of options (568,720) -
Employee benefit reserve at the end of the half-year 1,373,173 1,941,893

Option Premium Reserve
Option premium reserve at the beginning of the half-year - 112,841
Option premium reserve at the end of the half-year - 112,841

Foreign Exchange Reserve
Foreign exchange reserve at the beginning of the half-year 488,917 (497,768)
Exchange differences on translation of foreign operations attributable to members (488,917) 2,194,626

of Leyshon Resources Limited

Total comprehensive income for the period (488,917) 2,194,626
Foreign exchange reserve at the end of the half-year - 1,696,858
Total reserves at the end of the half-year 1,373,173 3,751,592

CONDENSED CONSOLIDATED STATEMENT OF

CHANGES IN EQUITY

FOR THE HALF-YEAR ENDED 31 DECEMBER 2009 (CONTINUED)

Half-year Ended Half-year Ended
31 Dec 2009 31 Dec 2008
$ $

Accumulated Losses
Accumulated losses at the beginning of the half-year (45,604,881) (42,319,895)

Profit/(Loss) for the half-year attributable to members of Leyshon 27,202,335 (2,950,192)

Resources Limited
Total comprehensive income for the period 27,202,335 (2,950,192

Transactions with equity holders in their capacity as equity holders:
Transfer from employee benefit reserve 568,720 -

Accumulated losses at the end of the half-year (17,833,826) (45,270,087)

The above Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the accompanying notes.

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE HALF-YEAR ENDED 31 DECEMBER 2009

Half-year ended Half-year ended
31 Dec 2009 31 Dec 2008
$ $

Payments to suppliers and employees (882,145) (2,808,354)
Interest received 57,886 194,716
(824,259) (2,613,638)

Net cash flows used in operating activities

Acquisition of plant and equipment (1,200) (2,580)
Proceeds from sale of interest in 46,039,933 -

jointly controlled entity
Loans to other entities (50,276) (475,549)
Development expenditure (505,906) (721,546)
45,482,551 (1,199,863)

Net cash flows used in investing activities
NET INCREASE/(DECREASE) IN CASH AND 44,658,292 (3,813,501)

Cash and cash equivalents at the 3,918,963 9,399,324

beginning of the half-year
Effects of exchange rate changes on (276,762) 148,234

cash and cash equivalents
48,300,493 5,734,057

The above Condensed Consolidated Statement of Cash Flows should be read in conjunction with the accompanying notes.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE HALF-YEAR ENDED 31 DECEMBER 2009

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

This general purpose financial report for the interim half-year reporting period ended 31 December 2009 has been prepared in accordance with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Act 2001. Compliance with AASB 134 ensures compliance with International Financial Reporting Standard IAS 34 Interim Financial Reporting.

This interim financial report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report is to be read in conjunction with the annual report of Leyshon Resources Limited for the year ended 30 June 2009 and any public announcements made by Leyshon Resources Limited and its subsidiaries during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001.

(a) Basis of preparation of half-year financial report

The condensed consolidated financial statements have been prepared on the basis of historical cost, except for the revaluation of certain non-current assets and financial instruments. Cost is based on the fair values of the consideration given in exchange for assets. All amounts are presented in Australian dollars.

The accounting policies and methods of computation adopted in the preparation of the half-year financial report are consistent with those adopted and disclosed in the Company's 2009 annual financial report for the year ended 30 June 2009, unless otherwise indicated.

(b) Adoption of new and revised Accounting Standards

In the current period, the Consolidated Entity has adopted all of the new and revised Standards and Interpretations issued by the Australian Accounting Standards Board ("AASB") that are relevant to its operations and effective for annual reporting periods beginning on or after 1 July 2009. The standards adopted are:

· AASB 3 : "Business Combinations"

· AASB 8 : "Operating Segments"

· AASB 2007-3 "Amendments to Australian Accounting Standards arising from AASB 8"

· AASB 101 : "Presentation of Financial Statements"

· AASB 127 : "Consolidated and Separate Financial Statements"

· AASB 2009-4 : "Amendments to Australian Accounting Standards arising from the Annual Improvements Project"

The adoption of these new and revised Standards and Interpretations has resulted in some disclosure changes being made.

2. REVENUE
Half-year Half-year
Ended Ended
31 December 2009 31 December
$ 2008
$

Interest received/receivable 106,847 293,581
3. GAIN ON DISPOSAL OF INTEREST IN JOINTLY CONTROLLED ENTITY
On 2 December 2009 the Company disposed of its 70% interest in the Sino Foreign Joint Venture company Black Dragon Mining Company Limited (Black Dragon), which owns the Zheng Guang Gold Project.
*Period from Half-year
1 July 2009 to Ended
2 December 2009 31 December
$ 2008
$

Exploration loss for (156,714) (1,555,244)
the period
Gain on disposal of 28,556,573 -
interest in Black
Dragon
(1,555,244)
28,399,859
The following were the results for the Consolidated Entity's interest in Black Dragon for the period:
Revenue - -
Operating expenses (156,714) (1,555,244)

Loss before income tax (156,714) (1,555,244)

Income tax expense

Loss after income tax (156,714) (1,555,244)
3. GAIN ON DISPOSAL OF INTEREST IN JOINTLY CONTROLLED ENTITY (Continued)
The Consolidated Entity's interest in the net assets of Black Dragon at the date of disposal was as follows:
2 December 2009
$
Book value of net assets sold
Current assets
Cash and cash equivalents 5,699
Trade and other receivables 1,245,860

Non-current assets
Development properties 23,918,553
Other financial assets 3,560,518

Current liabilities
Trade and other payables (827,495)

Non-current liabilities
Deferred tax liabilities (3,604,688)

Net assets disposed 24,298,447

Less withholding tax for equity transfer (3,077,876)

21,220,571
Gain on disposal 28,556,573
49,777,144
Total consideration

Consideration
Cash and cash equivalents 46,039,933
Liabilities assumed by purchaser 3,737,211

49,777,144
A gain of $28,556,573 was recognised on the disposal of the Consolidated Entity's interest in Black Dragon. People's Republic of China withholding tax of $3,077,876 was withheld from the sale proceeds. No other tax charge or credit arose on the transaction.
4. DIVIDENDS PAID OR PROVIDED FOR

No dividends have been paid or provided for during the half-year.

5. SEGMENT INFORMATION

The Consolidated Entity has adopted AASB 8 Operating Segments and AASB 2007-3 Amendments to Australian Accounting Standards arising from AASB 8 with effect from 1 January 2009. AASB 8 requires operating segments to be identified on the basis of internal reports about components of the Consolidated Entity that are regularly reviewed by the chief operating decision maker in order to allocate resources to the segment and to assess its performance. In contrast, the predecessor Standard (AASB 114 Segment Reporting) required an entity to identify two sets of segments (business and geographical), using a risks and rewards approach, with the entity's 'system of internal financial reporting to key management personnel' serving only as the starting point for the identification of such segments. As a result, following the adoption of AASB 8, the identification of the Consolidated Entity's reportable segments has changed.

In previous years, segment information reported externally was analysed on the basis of the geographical areas in which it operated its business of exploration of gold and other minerals. However, information reported to the Consolidated Entity's Managing Director for the purposes of resource allocation and assessment of performance is more specifically focused on one operating segment, being the exploration of gold and other minerals.
The accounting policies of the new reportable segment are the same as those of the Consolidated Entity. As the Consolidated Entity has only one operating segment, all the necessary reporting disclosures are disclosed elsewhere in the notes to the financial statements.

On 2 December 2009 the Consolidated Entity sold its interest in the Zheng Guang Gold Project in China and is actively seeking other projects in the China region to invest in that meet its investment guidelines.
6. SUBSEQUENT EVENTS AFTER BALANCE DATE

On 19 January 2010 the Company commenced an on-market share buy-back of up to 21,800,000 fully paid ordinary shares, approximately 10% of the Company's fully paid share capital.

The Company also announced that it has entered into a 51%:49% exploration and production joint venture with Qiqiha'r Tai Fu Trading Company Ltd on the QHD Iron Mountain project in the Tang Shan district of Hebei East China.

There were no other significant events occurring after balance date requiring disclosure in the financial statements.
7. COMMITMENTS AND CONTINGENCIES

Commitments

COMMITMENTS FOR EXPENDITURE Half-year Half-year
Ended Ended
31 December 31 December

$ $

Development Expenditure
Not longer than 1 year - 2,197,980
Longer than 1 year and not longer than 5 years - -
Longer than 5 years - -
Total Commitments - 2,197,980

There were no changes to the operating leases commitment during the half-year reporting period.

Contingencies

There has been no material change in the contingent assets or liabilities of the Consolidated Entity during the half-year.

8. ISSUANCES, REPURCHASES AND REPAYMENTS OF EQUITY SECURITIES

There were no movements in ordinary share capital or other issued share capital of the Company during the current half-year reporting period (2008: The Company issued 144,801 ordinary shares for a total value before issue costs of $46,336).

During the half-year reporting period, 1,250,000 options over ordinary shares expired (2008: No movement in options over ordinary shares).

9. AVAILABILITY OF REPORT

This half year report is available to be viewed on the Company's website, www.leyshonresources.com, and on the website of the ASX, www.asx.com.au.

This information is provided by RNS The company news service from the London Stock Exchange

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