Interim Report & Financial Statements

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: [phone]

Email: [e-mail]

Asiamet Resources Nominated Adviser
RFC Ambrian Limited

Bhavesh Patel / Stephen Allen

Telephone: [phone]

Email: [e-mail]   / [e-mail]

Optiva Securities Limited
Christian Dennis

Telephone: [phone]

Email: [e-mail]

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

 

END

 

 

IR SFISUWEESEDA