RNS Number : 3323W
Asiamet Resources Limited
17 August 2022
 

17 August 2022

 

 

2022 Interim Report & Financial Statements

 

Asiamet Resources Limited ("Asiamet" or the "Company") is pleased to present its unaudited financial statements for the 6 months ended 30 June 2022 ("Financial Statements") as extracted from the Company's 2022 Half Year Report which is now available on the Company website at www.asiametresources.com and will be provided to shareholders who have requested a printed or electronic copy. 

The Financial Statements are set out below and should be read in conjunction with the 2022 Half Year Report which contains the notes to the Financial Statements. 

All dollars in the report are US$ unless otherwise stated. 

2022 Financial and Operational Highlights Include: 

·    Appointment of Mr Darryn McClelland as a CEO.

·    BKZ Mineral Resource update following the completion of an 8,630 metre drilling program in early 2022 which saw a 50% increase in contained zinc and 75% uplift in contained copper.

·    Completion of the due diligence process with PT Delta Dunia Makmur Tbk. (DOID), covering all technical workstreams including a first phase diligence by an independent technical expert recommended by a financial institution. The Company remains in continued discussions with DOID in respect to consolidating a strategic partnership to advance the BKM Copper Project through to project financing and mine development.

 

ON BEHALF OF THE BOARD OF DIRECTORS

Antony (Tony) Manini, Chairman

For further information, please contact:
-Ends-

Tony Manini
 Chairman, Asiamet Resources Limited
Email: tony.manini@asiametresources.com

 

FlowComms Limited - Investor Relations

Sasha Sethi

Telephone: +44 (0) 7891 677 441

Email: Sasha@flowcomms.com

 

 

 

Asiamet Resources Nominated Adviser
 RFC Ambrian Limited

Bhavesh Patel / Stephen Allen

Telephone: +44 (0)20 3440 6800

Email: Bhavesh.Patel@rfcambrian.com / Stephen.Allen@rfcambrian.com

 

Optiva Securities Limited
 Christian Dennis

Telephone: +44 20 3137 1903

Email: Christian.Dennis@optivasecurities.com

 

 

 

 

 

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").

 

 

Interim condensed consolidated statement of financial position

As at

 



30-Jun

31-Dec

 


 

2022

2021

 


 

Unaudited

Audited

 

 

 

 $'000

 $'000

 





Assets

 



Current assets

 




Cash


 5,182

 9,060


Receivables and other assets

 

 27

 33




 5,209

 9,093

Non-current assets

 




Plant and equipment

 

 46

 60


Right-of-use assets


5

7


Receivables and other assets

 

 68

 71




 119

 138

Total assets

 

 5,328

 9,231






Liabilities and Equity

 



Current liabilities

 




Trade and other payables


 820

 537


Provisions

 

 283

 285


Lease liabilities


 99

 159




 1,202

 981

Non-current liabilities

 




Provisions

 

            714

 794




 1,916

 1,775

Equity

 




Share capital

 

 19,393

 19,393


Equity reserves


 65,975

 65,975


Other comprehensive income


 49

 49


Accumulated deficit


 (78,752)

 (74,708)


Other reserves


 (3,246)

 (3,246)


Parent entity interest


 3,419

 7,463


Non-controlling interest


 (7)

 (7)




 3,412

 7,456

Total liabilities and equity

 

 5,328

 9,231

 

Note all references to $ are US dollars

Interim condensed consolidated statement of comprehensive loss (unaudited)

For the six months ended 30 June

 

 


 

2022

2021

 

 

 

 $'000

 $'000

 





Expenses

 




Exploration and evaluation

 

 (2,236)

 (1,003)


Employee benefits


 (1,073)

 (912)


Consultants


 (185)

 (41)


Legal and Company Secretarial


 (64)

 (99)


Accounting and audit


 (4)

 (1)


General and administrative

 

 (153)

 (182)


Depreciation

 

 (20)

 (20)


Share-based compensation

 

 (104)

 (92)



 

 (3,839)

 (2,350)

Other items

 

 



Other gains

 

 -

 122


Foreign exchange losses

 

 (54)

 (150)


Finance costs

 

 (5)

 (10)


Impairment expenses


 (146)

 (33)


Other income

 

 1

 1




 (204)

 (70)

Net loss for the half year

 

 (4,043)

 (2,420)

 

 



Net loss attributable to:

 




Equity holders of the parent


 (3,937)

 (2,335)


Non-controlling interests


 (106)

 (85)






Total comprehensive loss attributable to:

 




Equity holders of the parent


 (3,937)

 (2,335)


Non-controlling interests


 (106)

 (85)






Basic and diluted loss per common share (cents per share)


 (0.21)

 (0.15)



 

 


Weighted average number of shares outstanding (thousands)


 1,942,542

 1,625,081

 

 


 

Interim condensed consolidated statement of cash flows (unaudited)

For the six months ended 30 June  

 

 


 

2022

2021

 

 

 

 $'000

 $'000

 





Operating activities

 




Loss for the half year

 

 (4,043)

 (2,420)

Adjustment for:

 

 



Depreciation

 

 20

 20


Share-based compensation

 

 104

 92


Net foreign exchange gains

 

 (4)

 (18)


Impairment expenses

 

 146

 33


Finance costs

 

 5

 10


Movements in provisions

 

 (80)

 (20)

Changes in working capital:

 

 

 


Receivables and other assets

 

 (145)

 (12)


Trade and other payables


 180

 (194)

Other adjustments:





 Interest payments


 (5)

 (10)

Net cash flows used in operating activities

 

 (3,822)

 (2,519)

 


 

 


Investing activities

 

 

 


Purchases of plant and equipment

 

 (6)

 (5)

Net cash flows used in investing activities

 

 (6)

 (5)

 


 

 

 

Financing activities

 

 



Payment of principal portion of lease liabilities

 

 (50)

 (75)


Proceeds from equity raising

 

 -

 14,089


Equity raising costs

 

 -

 (735)

Net cash flows from/(used in) financing activities

 

 (50)

 13,279

Increase/(decrease) in cash

 

 (3,878)

 10,755


 

 


Cash at beginning of the year

 

 9,060

 1,186

 

 

 


Cash at 30 June

 

 5,182

 11,941

Interim consolidated statement of changes in equity (unaudited)

For the six months ended 30 June 2022

 







Total equity

 






Other

 


attributable

Non-

 



 Share

Equity

comprehensive

Accumulated

Other

to the

controlling

 



capital

reserves

income

deficit

reserves

parent

interests

Total

 

 

 $'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

 










Balance at 1 January 2022

 19,393

 65,975

 49

 (74,708)

 (3,246)

7,463

 (7)

 7,456

 











Loss for the half year

 -

-

 -

 (3,937)

 -

 (3,937)

 (106)

 (4,043)

Total comprehensive loss

 -

-

 -

 (3,937)

 -

 (3,937)

 (106)

 (4,043)

 










Transactions with owners in their capacity as owners

 








 

Contribution by parent in NCI

 -

 -

 -

 (106)

 -

 (106)

 106

 -

 










Balance at 30 June 2022

19,393

 65,975

 49

 (78,752)

 (3,246)

 3,419

 (7)

3,412

 

  

 

Interim consolidated statement of changes in equity (unaudited)

For the six months ended 30 June 2021







Total equity

 






Other

 


attributable

Non-

 



 Share

Equity

comprehensive

Accumulated

Other

to the

controlling

 



capital

reserves

income

deficit

reserves

parent

interests

Total

 

 

 $'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

 










Balance at 1 January 2021

 14,752

 56,661

 83

 (68,644)

 (3,246)

 (394)

 (7)

 (401)












Loss for the half year

 -

 -

 -

 (2,335)

 -

 (2,335)

 (85)

 (2,420)

Total comprehensive loss

 -

 -

 -

 (2,335)

 -

 (2,335)

 (85)

 (2,420)











Transactions with owners in their capacity as owners

 









Equity raising

 4,574

 9,516

 -

 -

 -

 14,090

 -

 14,090


Equity raising costs

 -

 (735)

 -

 -

 -

 (735)

 -

 (735)


Contribution by parent in NCI

 -

 -

 -

 (85)

 -

 (85)

 85

 -











Balance at 30 June 2021

 19,326

 65,442

 83

 (71,064)

 (3,246)

 10,541

 (7)

 10,534

 

 

 

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