Half Yearly Report -3-
June 21 2012 - 1:58AM
UK Regulatory
reserve earnings Total
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GBP GBP GBP
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Balance at 1 October 2010 (10,508) (1,063,118) 4,624,034
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Other comprehensive income -
------------------------------------- ------------- ------------- -------------
exchange differences on translating
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foreign operations (3,657) - (3,657)
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Loss for the period - (421,132) (421,132)
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Total comprehensive income (3,657) (421,132) (424,789)
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Issue of share capital
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(net of expenses) - - 2,449,958
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Balance at 31 March 2011 (14,165) (1,484,250) 6,649,203
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Balance at 1 April 2011 (14,165) (1,484,250) 6,649,203
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Other comprehensive income -
------------------------------------- ------------- ------------- -------------
exchange differences on translating
------------------------------------- ------------- ------------- -------------
foreign operations (70,999) - (70,999)
------------------------------------- ------------- ------------- -------------
Loss for the period - (3,270,429) (3,270,429)
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Total comprehensive income (70,999) (3,270,429) (3,341,428)
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Share based options - - 424,570
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Issue of share capital (net of
------------------------------------- ------------- ------------- -------------
expenses) - - 1,003,857
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Balance at 30 September 2011 (85,164) (4,754,679) 4,736,202
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Other comprehensive income -
------------------------------------- ------------- ------------- -------------
exchange differences on translating
------------------------------------- ------------- ------------- -------------
foreign operations (11,988) - (11,988)
------------------------------------- ------------- ------------- -------------
Loss for the period - (243,038) (243,038)
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Total comprehensive income (11,988) (243,038) (255,026)
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Issue of share capital (net of
------------------------------------- ------------- ------------- -------------
expenses) - - 712,499
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Balance at 31 March 2012 (97,152) (4,997,717) 5,193,675
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Unaudited condensed consolidated interim statement of cash
flow
For the six months ended 31 March 2012
6 months 6 months 12 months
to to to
-------------------------------------- ------------ ------------ --------------
31 March 31 March 30 September
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2012 2011 2011
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GBP GBP GBP
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Operating loss for the period (243,038) (421,132) (3,691,561)
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Adjusted for:
-------------------------------------- ------------ ------------ --------------
Depreciation - 563 1,306
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Investment revenue (2,372) - (7,248)
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Foreign exchange loss (11,988) (3,657) (74,656)
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Share based payments - - 424,570
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Operating income before working
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capital changes
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Change in trade and other
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receivables (55,568) (8,015) (29,984)
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Change in trade and other payables 61,078 86,777 19,722
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Write down of exploration costs - - 2,442,897
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Cash generated from Group
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operations (251,888) (345,464) (914,954)
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Cash flows from investing activities
-------------------------------------- ------------ ------------ --------------
Expenditure on exploration
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activities (537,506) (257,609) (330,385)
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Net cash used in investing
-------------------------------------- ------------ ------------ --------------
activities (537,506) (257,609) (330,385)
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Cash flows from financing activities
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Proceeds from issue of share capital 712,500 749,957 1,753,815
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Investment Income 2,372 - 7,249
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Net cash proceeds from financing
-------------------------------------- ------------ ------------ --------------
activities 714,872 749,957 1,761,064
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Net increase in cash and cash
-------------------------------------- ------------ ------------ --------------
equivalents (74,522) 146,884 515,725
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Cash and cash equivalents at
-------------------------------------- ------------ ------------ --------------
beginning of period 937,084 421,359 421,359
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Cash and cash equivalents at end
-------------------------------------- ------------ ------------ --------------
of period 862,562 568,243 937,084
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Notes to the unaudited condensed consolidated interim financial
statements
For the six months ended 31 March 2012
1. General information
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