DJ VVV Resources Limited: Interim Results for the six months ended 30 June 2022
VVV Resources Limited (VVV) VVV Resources Limited: Interim Results for the six months ended 30 June 2022 02-Nov-2022 / 07:00 GMT/BST Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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VVV Resources Limited
("VVV" or the "Company")
Interim Results for the six months ended 30 June 2022
VVV Resources Limited (formerly Veni Vidi Vici Limited) announces its unaudited interim results for the six months ended 30 June 2022.
Overview
On the 24 March 2022 the Company had signed a conditional Share Purchase Agreement ("SPA") with CASS FZE and Stella Investments Limited (both private companies, incorporated and registered in the United Arab Emirates) to acquire 100% of the entire issued share capital of Anthony Vartkes Resources Limited, a BVI-registered company. On completion of the SPA, VVV will hold a 100% interest in the Mitterberg Copper Project in Austria and the remaining 49% interest in the Shangri La polymetallic project in Western Australia.
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.
Mr Lester Kemp, David Rigoll & Simon Clarke have resigned as Director in July & October 2022. At the same time, Mr Malcolm Macleod & Jim Williams were appointed as Directors in September and October 2022, respectively.
A number of projects in Western Australia are currently being reviewed, and shareholders will be provided with further news on these in the year end Report.
Financial Review
The loss for the period to 30 June 2022 was GBP77,000 (30 June 2021 - GBP 134,000 and 31 December 2021 - GBP431,000 loss) which mainly related to share based payments, regulatory costs and other corporate overheads. The total revenue for the period was nil. At 30 June 2022, the Company had cash balances of GBP17,000 (30 June 2021 - GBP 346,000 and 31 December 2021 - GBP87,000).
The interim accounts to 30 June 2022 have not been reviewed by the Company's auditors.
Mahesh s/o Pulandaran
Director
31 October 2022
The directors of the Company accept responsibility for the contents of this announcement.
For further information please contact:
The Company
Mahesh s/o Pulandaran +65 6438 8995
AQSE Growth Market Corporate Adviser:
Peterhouse Capital Limited
+44 (0) 20 7469 0936
Guy Miller/Mark Anwyl Unaudited Condensed Company Statement of Comprehensive Income for the six months ended 30 June 2022
6 months 6 months Year ended
to to
30 June 30 June 31
December
2022 2021
2021
Unaudited Unaudited Audited
Notes GBP'000 GBP'000 GBP'000
Continuing operations
Revenue
Investment income - - -
Total gains on AFS investments - - -
Administrative costs (77) (134) (431)
Share based payments - -
Operating (loss) (77) (134) (431)
Finance costs -
(Loss) before tax (77) (134) (431)
Taxation -
(Loss) for the period (77) (134) (431)
Other comprehensive income
Translation exchange (loss)/gain - - -
Other comprehensive income for the period net of taxation - - -
Total Comprehensive Income for the year attributable to the owners of the parent (77) (134) (431)
company
(Loss) per share:
Basic and diluted (loss) per share (pence) 2 (4.09) (7.12) (22.87) Unaudited Condensed Company Statement of Financial Position as at 30 June 2022
30 June 30 June
31 December 2021
2022 2021
Unaudited Unaudited Audited
Notes GBP'000 GBP'000 GBP'000
ASSETS
Non-current assets
Intangible assets 136 136 136
136 136 136
Current assets
Trade and other receivables 34 7 22
Cash and cash equivalents 17 346 87
51 353 109
Total assets 187 489 245
LIABILITIES
Current liabilities
Trade and other payables (116) (44) (97)
Total current liabilities (116) (44) (97)
Total liabilities (116) (44) (97)
Net Assets 71 445 148
EQUITY
Equity attributable to equity holders of the parent
Share capital - - -
Share premium account 863 863 863
Share based payment reserve 26 26 26
Retained earnings (818) (444) (741)
Total equity 71 445 148 Unaudited Condensed Company Statement of Changes in Equity for the six months ended 30 June 2022
Total
Share Share Retained attributable
Share based payment reserve
capital premium earnings to owners
of parent
Audited GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
At 31 December 2020 - 643 26 (310) 359
Loss for the period - - - (431) (431)
Total comprehensive income - - - (431) (431)
Issue of share capital - 220 - - 220
Transactions with owners of the company - 220 - - 220
At 31 December 2021 - 863 26 (741) 148
Unaudited
At 31 December 2021 - 863 26 (741) 148
Loss for the period - - - (77) (77)
Total comprehensive income for the period - - - (77) (77)
Issue of share capital - - - - -
Transactions with owners of the company - - - - -
Balance at 30 June 2022 - 863 26 (818) 71
Unaudited Condensed Company Statement of Cash Flows for the six months ended 30 June 2022
6 months to 6 months to Year to
30 June 30 June
31 December 2021
2022 2021
Unaudited Unaudited Audited
GBP'000 GBP'000 GBP'000
Cash flows from operating activities
Operating (loss) (77) (134) (431)
Adjustments for:
Share based payment charge - - -
Issue of shares to settle liabilities - - -
Decrease/(increase) in trade and other receivables (12) 11 (4)
(Decrease)/increase in trade and other payables 19 (25) 30
Net cash used in operating activities (70) (146) (405)
Investing activities
Finance Costs - - -
Investment in intangible assets - - -
Net cash outflow in investing activities - - -
Financing activities
Issue of share capital - 220 220
Issue costs - - -
Net cash from financing activities - 220 220
Net change in cash and cash equivalents (70) 74 (185)
Cash and cash equivalents at beginning of period 87 272 272
Cash and cash equivalents at end of period 17 346 87 Notes to the condensed interim financial statements 1. General Information Basis of preparation and accounting
The financial information has been prepared on the historical cost basis. The Company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Chairman's Statement. This statement also includes a summary of the Company's financial position and its cash flows.
These condensed interim financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union with the exception of International Accounting Standard ('IAS') 34 - Interim Financial Reporting. Accordingly the interim financial statements do not include all of the information or disclosures required in the annual financial statements and should be read in conjunction with the Company's 2021 annual financial statements. 2. Earnings per share
The calculation of the basic earnings per share is based on the earnings attributable to ordinary shareholders divided by the weighted average number of shares in issue during the year. The calculation of diluted earnings per share is based on the basic earnings per share, adjusted to allow for the issue of shares and the post-tax effect of dividends and/or interest, on the assumed conversion of all dilutive options and other dilutive potential ordinary shares.
Reconciliations of the earnings and weighted average number of shares used are set out below.
Six months Six months Year
to to ended
30 June 30 June 31
December
2022 2021
2021
(Unaudited) (Unaudited) (Audited)
(GBP'000) (GBP'000) (GBP'000)
Net loss attributable to equity holders of the company (77) (134) (431)
Number of shares Weighted average number of ordinary Shares for the purposes of basic 1,884,167 1,884,167 1,884,167
loss per share
Basic and diluted loss per share (pence) (4.09) (7.12) (22.87) 3. Events after the reporting date
There are no events after the end of the reporting date to disclose.
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ISIN: VGG9470B1004 Category Code: MSCM TIDM: VVV LEI Code: 213800OEUSH43X859D83 Sequence No.: 198212 EQS News ID: 1476807 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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November 02, 2022 03:00 ET (07:00 GMT)
