Trading Update and Extension of Reporting Deadline

RNS Number : 5794R

Wishbone Gold PLC

30 June 2020

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation

(EU) No. 596/2014 ("MAR")

30 June 2020

Wishbone Gold Plc

("Wishbone" or the "Company")

Wishbone Gold Plc / Index: AIM: WSBN / Sector: Natural Resources / AQSE: WSBN

Trading Update and Extension of Reporting Deadline

Wishbone Gold Plc (AIM: WSBN, AQSE: WSBN), the precious metals trading and exploration company, announces that the Company achieved total sales in the first quarter of 2020 of US$3.64m. This is in line with sales in the same period in 2019 of US$3.85m. The full year sales for 2019 were US$10.74m. All these figures are based on unaudited management accounts.

As agreed with AIM Regulation, the full audited results for the year ended 31 December 2019 will be issued before 30 September 2020.

COVID-19 has had a severe impact on the physical gold trade, particularly in Dubai where the grounding of Emirates Airlines on 25 March 2020 cut off the supply of gold from Africa and South America. This has led to shortages of physical gold worldwide due to the major position held by Dubai in physical trading. Although Emirates is now flying again on some routes this is a fraction of its previous capacity.

Following the funding completed on 2 June 2020, Wishbone now has sufficient cash for continuing operations and, from this position of financial strength, is in discussions for new opportunities.

For further information, please contact:

Wishbone Gold PLC
Richard Poulden, Chairman	Tel: [phone]
Beaumont Cornish Limited
(Nominated Adviser and AQUIS Exchange Corporate Adviser)
Roland Cornish/Rosalind Hill Abrahams	Tel: [phone]
Peterhouse Capital Limited
(Broker)
Lucy Williams and Duncan Vasey	Tel: [phone]

 

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