DJ Wishbone Gold PLC 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: +971 45 846 284 Beaumont Cornish Limited (Nominated Adviser and AQUIS Exchange Corporate Adviser) Roland Cornish/Rosalind Hill Abrahams Tel: +44 20 7628 3396 Peterhouse Capital Limited (Broker) Lucy Williams and Duncan Vasey Tel: +44 20 7469 0930
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(END) Dow Jones Newswires
June 30, 2020 10:04 ET (14:04 GMT)