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(NBR.L) Namibian Resources PLC Buy/Sell

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(RNS) 2009-11-11 12:20 Namibian Resources - Interim Results for six months to 31 August 2009
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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
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