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DJ MetalNRG Plc Half-year Report

 
TIDMMNRG 
 
MetalNRG plc 
 
                                (the "Company") 
 
                  Unaudited Interim Results to 31 August 2016 
 
CHAIRMAN'S STATEMENT: 
 
MetalNRG plc 
 
The Board have spent recent months assessing a number of opportunities for 
investment.  In line with our investment strategy these opportunities have been 
focused on the natural resources sector with a particular interest in energy 
minerals, natural resources and fintech opportunities. 
 
The Board have noted the general recovery in the natural resource sector during 
2016, albeit with a pullback in the sector in recent months.  The impact of the 
difficult conditions in the natural resource sector over the last five years 
has resulted in many projects being underfunded and thus now presents a 
tremendous opportunity for a resources investing company such as MetalNRG. The 
opportunities available have further increased as a result of the weaker market 
in recent months, with many participants questioning the potential for the 
resource market to fully recover and regain the strengths of times past.  This 
type of market is ideal for bold, contrarian investing which is what MetalNRG 
will pursue and with the increasing number of opportunities available to us we 
feel confident that we will be announcing successfully completed transactions 
in due course. 
 
Investors should also be aware the Company has a new website, http:// 
www.metalnrg.com/, where further information about the Company can be found. 
 
We look forward to what we trust will be an exciting balance of 2016 and the 
upcoming new year. 
 
The Directors do not recommend the payment of a dividend. 
 
The Directors have agreed to continue to waive their fees as previously 
announced. 
 
Christopher Latilla-Campbell 
 
Chairman 
 
11 November 2016 
 
 
 
 
UNAUDITED ACCOUNTS FOR THE SIX MONTHS TO 31 AUGUST, 2016 
 
PROFIT & LOSS ACCOUNT 
 
for the period to 31 August, 2016 
 
                                                       GBP              GBP 
 
                                          Six months ended Six months ended 
                                            31 August 2016   31 August 2015 
 
Income 
 
Unrealised Foreign Exchange                          5,743              387 
Gains 
 
Interest                                                 -                - 
receivable 
 
Other                                                  101                - 
Income 
 
Total                                                5,844              387 
 
Expenses 
 
Salaries &                                               -                - 
fees 
 
Legal & Professional Fees                         (25,756)         (14,490) 
 
Travelling and                                           -            (412) 
Research 
 
General                                            (3,165)          (2,476) 
Expenses 
 
Total                                             (28,921)         (17,378) 
 
Loss for the                                      (23,077)         (16,991) 
Period 
 
BALANCE SHEET 
 
At 31 August, 2016 
 
                                                       GBP              GBP 
 
                                           As at 31 August  As at 31 August 
                                                      2016             2015 
 
Current Assets 
 
Bank                                               146,726          123,152 
Balances 
 
Debtors                                             18,131           16,253 
 
                                                   164,857          139,406 
 
Current Liabilities 
 
Creditors                                          (6,552)          (1,434) 
 
                                                   158,305          137,972 
 
Equity 
 
Share Capital                                      243,563          241,660 
 
Share Premium                                      715,361          667,260 
 
Profit & Loss Account                             (23,077)         (28,588) 
 
Prior year reserves                              (777,542)        (753,957) 
 
                                                   158,305          137,972 
 
Number of shares in issue as at 11 November 2016 - 67,359,400 
 
The Directors of the Company accept responsibility for the contents of this 
announcement. 
 
This announcement contains inside information for the purposes of Article 7 of 
EU Regulation 596/2014. 
 
FOR FURTHER INFORMATION PLEASE CONTACT: 
 
MetalNRG plc 
Christopher Latilla-Campbell 
Chairman 
01604-845551 
 
OR 
 
Advisor 
James Caithie 
Cairn Financial Advisors LLP 
020-7213 0882 
 
 
 
END 
 

(END) Dow Jones Newswires

November 14, 2016 04:00 ET (09:00 GMT)