TIDMARS
RNS Number : 3323W
Asiamet Resources Limited
17 August 2022
17 August 2022
2022 Interim Report & Financial Statements
Asiamet Resources Limited ("Asiamet" or the "Company") is
pleased to present its unaudited financial statements for the 6
months ended 30 June 2022 ("Financial Statements") as extracted
from the Company's 2022 Half Year Report which is now available on
the Company website at www.asiametresources.com and will be
provided to shareholders who have requested a printed or electronic
copy.
The Financial Statements are set out below and should be read in
conjunction with the 2022 Half Year Report which contains the notes
to the Financial Statements.
All dollars in the report are US$ unless otherwise stated.
2022 Financial and Operational Highlights Include:
-- Appointment of Mr Darryn McClelland as a CEO.
-- BKZ Mineral Resource update following the completion of an
8,630 metre drilling program in early 2022 which saw a 50% increase
in contained zinc and 75% uplift in contained copper.
-- Completion of the due diligence process with PT Delta Dunia
Makmur Tbk. (DOID), covering all technical workstreams including a
first phase diligence by an independent technical expert
recommended by a financial institution. The Company remains in
continued discussions with DOID in respect to consolidating a
strategic partnership to advance the BKM Copper Project through to
project financing and mine development.
ON BEHALF OF THE BOARD OF DIRECTORS
Antony (Tony) Manini, Chairman
For further information, please contact:
-Ends-
Tony Manini
Chairman, Asiamet Resources Limited
Email: tony.manini@ asiametresources .com
FlowComms Limited - Investor Relations
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com
Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Bhavesh Patel / Stephen Allen
Telephone: +44 (0)20 3440 6800
Email: Bhavesh.Patel@rfcambrian.com / Stephen.Allen@rfcambrian.com
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.com
Follow us on twitter @AsiametTweets
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
Interim condensed consolidated statement of financial
position
As at
30-Jun 31-Dec
2022 2021
Unaudited Audited
$'000 $'000
------------------------------ --------------- ----------
Assets
Current assets
Cash 5,182 9,060
Receivables and other assets 27 33
5,209 9,093
Non-current assets
Plant and equipment 46 60
Right-of-use assets 5 7
Receivables and other assets 68 71
--------------- ----------
119 138
Total assets 5,328 9,231
------------------------------- --------------- ----------
Liabilities and Equity
Current liabilities
Trade and other payables 820 537
Provisions 283 285
Lease liabilities 99 159
--------------- ----------
1,202 981
Non-current liabilities
Provisions 714 794
---------------
1,916 1,775
--------------- ----------
Equity
Share capital 19,393 19,393
Equity reserves 65,975 65,975
Other comprehensive income 49 49
Accumulated deficit (78,752) (74,708)
Other reserves (3,246) (3,246)
Parent entity interest 3,419 7,463
Non-controlling interest (7) (7)
--------------- ----------
3,412 7,456
--------------- ----------
Total liabilities and equity 5,328 9,231
------------------------------- --------------- ----------
Note all references to $ are US dollars
Interim condensed consolidated statement of comprehensive loss
(unaudited)
For the six months ended 30 June
2022 2021
$'000 $'000
=============================================== =========== ===========
Expenses
Exploration and evaluation (2,236) (1,003)
Employee benefits (1,073) (912)
Consultants (185) (41)
Legal and Company Secretarial (64) (99)
Accounting and audit (4) (1)
General and administrative (153) (182)
Depreciation (20) (20)
Share-based compensation (104) (92)
-----------
(3,839) (2,350)
----------- -----------
Other items
Other gains - 122
Foreign exchange losses (54) (150)
Finance costs (5) (10)
Impairment expenses (146) (33)
Other income 1 1
(204) (70)
----------- -----------
Net loss for the half year (4,043) (2,420)
Net loss attributable to:
Equity holders of the parent (3,937) (2,335)
Non-controlling interests (106) (85)
Total comprehensive loss attributable
to:
Equity holders of the parent (3,937) (2,335)
Non-controlling interests (106) (85)
Basic and diluted loss per common share
(cents per share) (0.21) (0.15)
Weighted average number of shares outstanding
(thousands) 1,942,542 1,625,081
------------------------------------------------ ----------- -----------
Interim condensed consolidated statement of cash flows
(unaudited)
For the six months ended 30 June
2022 2021
$'000 $'000
============================================= ========= =========
Operating activities
Loss for the half year (4,043) (2,420)
Adjustment for:
Depreciation 20 20
Share-based compensation 104 92
Net foreign exchange gains (4) (18)
Impairment expenses 146 33
Finance costs 5 10
Movements in provisions (80) (20)
Changes in working capital:
Receivables and other assets (145) (12)
Trade and other payables 180 (194)
Other adjustments:
Interest payments (5) (10)
Net cash flows used in operating activities (3,822) (2,519)
--------- ---------
Investing activities
Purchases of plant and equipment (6) (5)
Net cash flows used in investing activities (6) (5)
--------- ---------
Financing activities
Payment of principal portion of lease
liabilities (50) (75)
Proceeds from equity raising - 14,089
Equity raising costs - (735)
Net cash flows from/(used in) financing
activities (50) 13,279
--------- ---------
Increase/(decrease) in cash (3,878) 10,755
Cash at beginning of the year 9,060 1,186
Cash at 30 June 5,182 11,941
---------------------------------------------- --------- ---------
Interim consolidated statement of changes in equity
(unaudited)
For the six months ended 30 June 2022
Total
equity
Other attributable Non-
Share Equity comprehensive Accumulated Other to the controlling
capital reserves income deficit reserves parent interests Total
$'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000
=============== ======== ========= ============== ============ ========= ============= ============ =========
Balance at 1
January 2022 19,393 65,975 49 (74,708) (3,246) 7,463 (7) 7,456
Loss for the
half year - - - (3,937) - (3,937) (106) (4,043)
-------- --------- -------------- ------------ --------- ------------- ------------ ---------
Total
comprehensive
loss - - - (3,937) - (3,937) (106) (4,043)
Transactions
with owners in
their
capacity as
owners
Contribution
by parent in
NCI - - - (106) - (106) 106 -
Balance at 30
June 2022 19,393 65,975 49 (78,752) (3,246) 3,419 (7) 3,412
---------------- -------- --------- -------------- ------------ --------- ------------- ------------ ---------
Interim consolidated statement of changes in equity
(unaudited)
For the six months ended 30 June 2021
Total
equity
Other attributable Non-
Share Equity comprehensive Accumulated Other to the controlling
capital reserves income deficit reserves parent interests Total
$'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000
=============== ======== ========= ============== ============ ========= ============= ============ =========
Balance at 1
January 2021 14,752 56,661 83 (68,644) (3,246) (394) (7) (401)
Loss for the
half year - - - (2,335) - (2,335) (85) (2,420)
-------- --------- -------------- ------------ --------- ------------- ------------ ---------
Total
comprehensive
loss - - - (2,335) - (2,335) (85) (2,420)
Transactions
with owners in
their
capacity as
owners
Equity raising 4,574 9,516 - - - 14,090 - 14,090
Equity raising
costs - (735) - - - (735) - (735)
Contribution
by parent in
NCI - - - (85) - (85) 85 -
Balance at 30
June 2021 19,326 65,442 83 (71,064) (3,246) 10,541 (7) 10,534
---------------- -------- --------- -------------- ------------ --------- ------------- ------------ ---------
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END
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