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)