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DJ All Star Minerals PLC Half-year Report

 
TIDMASMO 
 
ALL STAR MINERALS PLC 
 
                         ("All Star" or the "Company") 
 
     UNAUDITED INTERIM RESULTS FOR THE SIX MONTH PERIOD ENDED 30 JUNE 2016 
 
All Star Minerals Plc (ISDX: ASMO), the ISDX Growth Market investing company 
focused on natural resources, is pleased to announce its interim results for 
the six month period ended 30 June 2016. 
 
Chairman's Statement 
 
The past six months have continued to be a period in which the Company has 
shown progress. There have been a number of positive events during the 
reporting period including the simplification of All Star's corporate structure 
and the performance of investee company, NQ Minerals Plc ("NQ"). 
 
In January 2016, the Company announced that all three of its Australian 
subsidiaries had filed for de-registration by 31 December 2015, which meant 
that there was no longer any overseas operating subsidiaries. This 
simplification of All Star's corporate structure has allowed the Company to 
view new avenues, and broaden its investing strategy. 
 
In March 2016, All Star raised GBP18,000 through the issue of 20,000,000 new 
ordinary shares at a price of 0.09p per share. This money was used for general 
working capital purposes. 
 
In April 2016, the board announced it noted that NQ had completed the first 
round of drilling at Ukalunda with further drilling to be completed. The said 
drilling results were then released in April and showed to be very encouraging 
with new metals and good ore grades being discovered. 
 
In May 2016, the Company announced that it has raised GBP92,400 through the issue 
of 132,000,000 new ordinary shares at a price of 0.07p per share. This money 
was for general working capital purposes and ongoing activities. 
 
Update 
 
The board of All Star is pleased with what has been achieved over the past six 
months. The Company has completed the exit from Australian operationally and 
still maintains 5,519,545 shares or a 3.9% shareholding in NQ, which is shaping 
up to be an interesting mining company. The board awaits further developments 
with NQ in the near future. However, All Stars' aim is not to be passive and 
potential investment opportunities are being appraised regularly. 
 
Financials 
 
The financial results for the period from 1 January 2016 to 30 June 2016 shows 
a loss after taxation attributable to equity holders of the parent of GBP43,205. 
The basic loss per share was 0.01p. The loss is attributable to ongoing 
administrative costs associated with the running of the Company. 
 
The Company is carefully managing its working capital and is seeking to raise 
further funds in the near future. 
 
Outlook 
 
Whilst the Company recorded a small loss for the first half of the year, which 
was like for like for the same period last year, it is in contrast to 
historical years. This further demonstrates work that the board has completed 
to strengthen the balance sheet and put the Company into a much better 
position. 
 
Whilst there was a reduction in current assets, the board remains encouraged by 
the prospects longer term in respect of both NQ and potential new investments. 
The board is continually looking at ways to advance the Company forward in a 
new direction following the disposal of overseas subsidiaries and assets at the 
end of last year. 
 
Tomas Nugent 
 
Executive Chairman 
 
30 September 2016 
 
ALL STAR MINERALS PLC 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 
SIX MONTHS ENDED 30 JUNE 2016 
 
                                Unaudited           Audited           Unaudited 
                           6 month period        year ended      6 month period 
                            ended 30 June       31 December       ended 30 June 
                                     2016              2015                2015 
                                      GBP               GBP                 GBP 
 
Revenue                                 -                 -                   - 
 
Administrative expenses          (30,205)         (207,722)            (27,333) 
 
Impairment of investment                -          (49,993)                   - 
 
Finance costs                    (13,000)          (22,827)            (14,695) 
 
Other income                            -           441,564                   - 
 
(LOSS)/PROFIT BEFORE TAX         (43,205)           161,022            (42,028) 
 
Income tax expense                      -                 -                   - 
 
(LOSS)/PROFIT  FOR THE 
PERIOD/YEAR                      (43,205)           161,022            (42,028) 
 
Attributable to: 
 
Equity holder of the             (43,205)           161,022            (40,648) 
parent 
 
Non-controlling interest                -                 -             (1,380) 
 
(LOSS)/PROFIT PER SHARE 
 
Basic & diluted (pence             (0.01)              0.02              (0.01) 
per share) 
 
 
 
 
ALL STAR MINERALS PLC 
CONSOLIDATED STATEMENT OF FINANCIAL POSITION 
AS AT 30 JUNE 2016 
 
                                Unaudited           Audited           Unaudited 
                          at 30 June 2016    At 31 December          At 30 June 
                                                       2015                2015 
                                      GBP               GBP 
                                                                            GBP 
 
NON CURRENT ASSETS 
 
Property, plant and                     -                 -                   - 
equipment 
 
Available for sale                      -                 -             731,532 
investment 
 
Trade and other                         -                 -               4,872 
receivables 
 
                                        -                 -             736,404 
 
CURRENT ASSETS 
 
Trade and other                    13,381            10,641              28,735 
receivables 
 
Cash and cash equivalents          40,676             4,384               4,883 
 
Available for sale                248,380           703,927                   - 
financial assets 
 
                                  302,437           718,952              33,618 
 
TOTAL ASSETS                      302,437           718,952             770,022 
 
EQUITY PLUS NON-CONTROLLING INTEREST 
 
ISSUED SHARE CAPITAL AND RESERVES 
 
Share capital                     409,440           394,240             383,378 
 
Share premium                   1,634,602         1,539,402           1,432,199 
 
Reserves                          527,268           982,815           1,320,800 
 
Retained profits              (2,574,240)       (2,531,035)         (2,629,017) 
 
Foreign exchange                        -                 -              23,516 
 
SUBSCRIBED CAPITAL                (2,930)           385,422             530,876 
 
Non-controlling interest                -                 -                   - 
 
TOTAL EQUITY                      (2,930)           385,422             530,876 
 
 
CURRENT LIABILITIES 
 
Trade and other payables          305,367           333,530             239,146 
 
TOTAL EQUITY AND                  302,437           718,952             770,022 
LIABILITIES 
 
 
Notes: 
 
1. The financial information for the six months ended 30 June 2016 and the six 
months ended 30 June 2015 has not been audited. The financial information 
contained in the interim report does not constitute statutory accounts as 
defined in Section 434 of the Companies Act 2006. 
 
2. Basic loss per share has been calculated using the weighted average number 
of shares of 819,645,074 (31 December 2015: 707,059,013; 30 June 2015: 
675,745,260). Given the loss per share, there are no dilutive instruments in 
issue at 30 June 2016 and 30 June 2015. At 31 December 2015 diluted earnings 
per share were calculated using the weighted number of shares including 
dilutive instruments of 740,025,086. 
 
3. The Directors of the issuer accept full responsibility for this 
announcement. 
 
ENQUIRIES: 
 
All Star Minerals Plc 
Tomas Nugent, Chairman 
01473 722768 
 
ISDX Corporate Adviser 
Cairn Financial Advisers LLP 
Liam Murray 
020 7148 7900 
 
 
 
END 
 

(END) Dow Jones Newswires

September 30, 2016 02:00 ET (06:00 GMT)