DJ VVV Resources Limited: Unaudited Preliminary Results for the year ended 31 December 2021
VVV Resources Limited (VVV) VVV Resources Limited: Unaudited Preliminary Results for the year ended 31 December 2021 30-Jun-2022 / 17:46 GMT/BST Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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VVV Resources Limited
AQSE: VVV
("VVV" or the "Company")
Unaudited Preliminary Results for the year ended 31 December 2021
VVV Resources Limited (formerly Veni Vidi Vici Limited) announces its unaudited preliminary results for the year end ended 31 December 2021.
The information set out below has been extracted from the Company's draft report and accounts for the year ended 31 December 2021 and has not been audited. A further announcement will be released by the Company on completion of the audit, expected shortly, and any material changes between the financial information set out below and the audited financial information will be disclosed in that announcement.
"CHAIRMAN'S STATEMENT
Overview
On 30th June 2021 the Company was renamed VVV Resources Limited.
Due to strict COVID-19 restrictions in Australia, the Company advises that it has completed limited physical work on its Shangri La Project.
The Shangri La Project is a gold-copper-silver project comprising a polymetallic hydrothermal quartz vein type deposit covering an area of 10 hectares. The Shangri La Project is located 10 kilometres west of Kununurra, the central town of the Northeast Kimberley region in Western Australia.
During the first six months, the Company's activities were limited solely to desk studies, due (as per above) due to the tight COVID-19 travel restrictions imposed in Australia. Since the end of June 2021, the restrictions have however, been eased and the Company commissioned an independent Geologist based out of Perth to carry out a site visit to collect samples from the project area.
Furthermore, the Company reported in June 2021 that Donald Strang resigned as a Director of the Company and Lester Kemp, a Geologist with over 25 years of experience in the resources sector, was elected as the Company's Chief Operating Officer and later made a Non-Executive Director in 2022.
A number of projects in Western Australia are currently being reviewed, and shareholders will be provided with further news in due course.
FINANCE REVIEW
The loss for the year was GBP431,000 (2020: loss of GBP100,000) which mainly related to regulatory costs and other corporate overheads. The total revenue for the period was nil. As at 31 December 2021, the Company had cash balances of GBP87,000 (2020: GBP272,000).
The accounts to 31 December 2021 have not been fully reviewed by the Company's auditors.
Mahesh Pulandaran
Managing Director
30 June 2022
The directors of the Company accept responsibility for the contents of this announcement.
For further information please contact:
The Company
David Rigoll +44 (0) 7881 778888
AQSE Growth Market Corporate Adviser:
Peterhouse Capital Limited
+44 (0) 20 7469 0936
Guy Miller/Mark Anwyl
Statement of profit or loss and other comprehensive income for the year ended to 31 December 2021
Year ended Period ended
31 December
31 December
2021
2020
GBP'000 GBP'000
Revenue
Investment income - -
Total revenue - -
Administration expenses (431) (99)
Share based payment charge - (1)
Operating loss (431) (100)
Finance costs - -
Loss before taxation (431) (100)
Taxation - -
Loss for the period attributable to equity holders of the company (431) (100)
Other comprehensive income
Translation exchange (loss)/gain - -
Other comprehensive income for the period net of taxation - -
Total comprehensive income for the period attributable to equity holders of the company (431) (100)
Loss per share
Basic and diluted (pence) (22.87) (5.74)
Statement of financial position as at 31 December 2021
Restated
31 December 31 December
2021 2020
GBP'000 GBP'000
Non-current assets
Investments accounted for using the equity method 136 136
Current assets
Trade and other receivables 22 18
Cash and cash equivalents 87 272
109 290
Total assets 245 426
Current liabilities
Trade and other payables (97) (67)
(97) (67)
Net current assets/ (liabilities) 12 223
Net assets 148 359
Equity
Share capital - -
Share premium 863 643
Share based payment reserve 26 26
Retained earnings (741) (310)
Total equity 148 359"
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
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ISIN: VGG9470B1XXX Category Code: MSCM TIDM: VVV LEI Code: 213800OEUSH43X859D83 Sequence No.: 171899 EQS News ID: 1388337 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
June 30, 2022 12:46 ET (16:46 GMT)
