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DJ Hot Rocks Investments PLC Half-year Report

 
TIDMHRIP 
 
3 January 2017 
 
                           HOT ROCKS INVESTMENTS PLC 
                        ("Hot Rocks" or the "Company") 
 
UNAUDITED INTERIM FINANCIAL INFORMATION FOR THE PERIOD ENDED 30 SEPTEMBER 2016 
 
CHAIRMAN'S STATEMENT 
 
I hereby present the interim results for the Company for the six months ended 
30 September 2016. 
 
The Company is an active investor largely in junior natural resources 
companies. We have seen some improvement during the period in commoditiy prices 
which has assisted our portfolio of investments and we look forward to 
reporting on developments in due course. 
 
The Company made a total comprehensive income of GBP 236,459 for the period, 
compared to a loss of GBP 394 for the same period last year. The Company will 
not be paying a dividend. 
 
Cash at bank as at 30 September 2016 was GBP14,039 (30 September 2015: 
GBP13,705). 
 
We hold stakes in the following entities: 
 
Brazil Tungsten Holdings Limited 
Copper Bay Limited 
Elephant Oil Limited 
Goldcrest Resources plc 
Impact Oil & Gas Limited 
Mafula Energy Limited 
MedGold Resources Corp 
Minergy Limited 
New Horizon Oil & Gas Limited (trading as t5) 
Onzima Ventures plc 
Royal Road Minerals Limited (formerly Tigris Resources Limited) 
Taoudeni Resources Limited 
Upland Resources Limited 
 
Brian Rowbotham 
 
Non-Executive Chairman 
 
The Directors of the issuer are responsible for the content of this 
announcement. 
 
For further information please contact: 
 
Hot Rocks Investments plc 
Gavin Burnell: 020 7382 8417 
 
Peterhouse Corporate Finance Limited 
Guy Miller: 020 7220 9796 
 
HOT ROCKS INVESTMENTS PLC CONDENSED STATEMENT OF COMPREHENSIVE INCOME 
FOR THE PERIOD ENDED 30 SEPTEMBER 2016 
 
                                                                6 months     6 months 
                                                                      To           To 
                                                            30 September 30 September 
                                                                    2016         2015 
                                                               Unaudited    Unaudited 
 
Continuing operations                                                  GBP            GBP 
 
Revenue                                                                -            - 
 
Operating expenses                                              (21,543)     (33,081) 
 
Other gains                                                        1,353       37,521 
 
                                                                 _______      _______ 
 
Profit/(Loss) from operations                                   (20,190)        4,440 
 
Interest receivable                                                1,648        1,548 
 
                                                                 _______      _______ 
 
Profit/(Loss) before taxation                                   (18,542)        5,988 
 
Income tax expense                                                     -            - 
 
                                                                 _______      _______ 
 
Profit/(Loss) for the period                                    (18,542)        5,988 
 
                                                                 _______      _______ 
 
Other comprehensive income 
 
Reclassification of cumulative gains on                                -      (6,382) 
available-for-sale financial asset due to 
disposals 
 
Fair value gains/(losses) on                                     255,001            - 
available-for-sale financial assets 
 
                                                                 _______      _______ 
 
Total comprehensive income/(loss) for the                        236,459        (394) 
period 
 
                                                                 _______      _______ 
 
Earnings per share (pence)                                                    1. 0.00 
Basic                                                               0.14 
 
Diluted                                                             0.13         0.00 
 
HOT ROCKS INVESTMENTS PLC 
CONDENSED STATEMENT OF FINANCIAL POSITION 
AS AT 30 SEPTEMBER 2016 
 
                                                                As at         As at 
 
                                                         30 September      31 March 
 
                                                                 2016          2016 
 
                                                            Unaudited       Audited 
 
Assets 
 
                                                                    GBP             GBP 
 
Non-current assets 
 
Available for sale financial assets                           964,170       722,794 
 
                                                              _______       _______ 
 
                                                              964,170       722,794 
 
                                                              _______       _______ 
 
Current assets 
 
Other receivables                                              21,356        18,617 
 
Cash and cash equivalents                                      14,039        13,705 
 
                                                              _______       _______ 
 
                                                               35,395        32,322 
 
                                                              _______       _______ 
 
Total assets                                                  999,565       755,116 
 
                                                              _______       _______ 
 
Equity and liabilities 
 
Equity 
 
Called up share capital                                       173,602       173,602 
 
Share premium account                                       1,174,631     1,174,631 
 
Shares based payment reserve                                   29,738        29,738 
 
Other reserves                                                221,651      (33,350) 
 
Retained loss                                               (698,964)     (680,422) 
 
                                                             ________      ________ 
 
                                                              900,658       664,199 
 
                                                              _______       _______ 
 
Current liabilities 
 
Trade and other payables                                       98,907        90,917 
 
                                                              _______       _______ 
 
Total equity and liabilities                                  999,565       755,116 
 
                                                              _______       _______ 
 
 
HOT ROCKS INVESTMENTS PLC 
CONDENSED CASH FLOW STATEMENT 
FOR THE PERIOD ENDED 30 SEPTEMBER 2016 
 
                                                          6 months to    6 months to 
 
                                                         30 September   30 September 
 
                                                                 2016           2015 
 
                                                            Unaudited      Unaudited 
 
                                                                    GBP              GBP 
 
Cash flows from operating activities 
 
Operating profit/(loss)                                       236,459          (394) 
 
Adjustments: 
 
Fair value adjustment of available-for-sale financial       (255,001)              - 
assets 
 
(Loss) / Gains on disposal of available-for-sale              (1,353)          6,382 
financial assets 
                                                              (1,648)        (1,548) 
Finance income 
 
Movements in working capital: 
 
Increase in trade and other receivables                       (2,739)       (42,780) 
 
Increase in trade and other payables                            7,990         10,411 
 
                                                              _______        _______ 
 
Net cash used in operating activities                        (16,292)       (27,925) 
 
                                                              _______        _______ 
 
Cash flows from investing activities 
 
Proceeds from disposal of available-for-sale financial         14,978              - 
assets 
 
                                                             ________       ________ 
 
Net cash used in investing activities                          14,978              - 
 
                                                             ________       ________ 
 
Cash flows from financing activities 
 
Interest received                                               1,648          1,548 
 
                                                             ________       ________ 
 
Net cash from financing activities                              1,648           1548 
 
                                                             ________       ________ 
 
Increase/(decrease) in cash and cash equivalents                  334       (26,381) 
 
                                                             ________       ________ 
 
Cash and cash equivalents at the beginning of the              13,705         39,984 
period 
 
                                                             ________       ________ 
 
Cash and cash equivalents at the end of the period             14,039         13,603 
 
                                                             ________       ________ 
 
HOT ROCKS INVESTMENTS PLC 
ACCOUNTING POLICIES 
FOR THE PERIOD ENDED 30 SEPTEMBER 2016 
 
1    Financial Information 
 
The financial information set out above does not constitute statutory accounts 
within the meaning of Section 434 of the Companies Act 2006. It has been 
prepared on a going concern basis in accordance with the recognition and 
measurement criteria of the International Financial Reporting Standards (IFRS) 
as adopted by the European Union. 
 
The accounting policies used in the preparation of this set of condensed 

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January 03, 2017 02:00 ET (07:00 GMT)

DJ Hot Rocks Investments PLC Half-year Report -2-

interim financial statements are consistent with those set out in the Company's 
annual financial statements for the year ended 31 March 2016. Statutory 
accounts for the year ended 31 March 2016 were approved by the Board of 
Directors on 31 August 2016 and delivered to the Registrar of Companies. The 
report of the independent auditor on those accounts was unqualified. 
 
        The financial information for the six months ended 30 September 2016 
has not been reviewed by the Company auditors. As permitted, the Company has 
chosen not to adopt IAS 34 "Interim Financial Statements" in preparing this 
interim financial information. 
 
        Risks and Uncertainties 
 
      The Board continuously assesses and monitors the key risks of the 
business. The key risks that could affect the Company's medium term performance 
and the factors that mitigate those risks have not substantially changed from 
those discussed in the Financial Statements to 31 March 2016. 
 
Critical accounting estimates 
 
The preparation of the condensed interim financial statements requires 
management to make estimates and assumptions that affect the reported amounts 
of assets and liabilities and disclosure of contingent assets and liabilities 
at the end of the reporting period. Significant items subject to estimates are 
set out in the accounting policies of the Company's Financial Statements to 31 
March 2016. 
 
 
 
END 
 

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January 03, 2017 02:00 ET (07:00 GMT)