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Hot Rocks Investments plc: Final Results

Finanznachrichten News

DJ Hot Rocks Investments plc: Final Results

Hot Rocks Investments plc (HRIP) 
Hot Rocks Investments plc: Final Results 
01-Oct-2024 / 07:00 GMT/BST 
=---------------------------------------------------------------------------------------------------------------------- 
1 October 2024 
HOT ROCKS INVESTMENTS PLC 
(the "Company") 
Audited Final Results to 31 March 2024 
Managing Director's Statement 
 
I hereby present the financial results for the Company for the year ended 31 March 2024. The Company has been an 
active investor primarily in junior natural resources companies. The Company also reviews opportunities to invest in 
other sectors, particularly technology, and generally seeks to invest in exciting companies where our valuation entry 
point reflects the early-stage nature of their business or sector which, although carrying higher risk, gives us 
exposure to considerable upside. 
 
We have continued to build and nurture our investment portfolio and we are generally pleased with performance, 
particularly in light of difficult market conditions in the space in which we operate. We also have a favourable cash 
position enabling us to take advantage of situations as they arise. 
 
The Company made a profit for the year of GBP46,984, and a loss of GBP367,811 in the prior year. The Company will not be 
paying a dividend for the foreseeable future (2023: GBPNil) as we seek to reinvest any profits in opportunities with the 
potential for significant capital growth. 
 
Cash and cash equivalents as at the year end of 31 March 2024 were GBP5,386 (2023: GBP21,928). 
 
In May 2024 we announced with sadness the passing of our Chairman, Brian Rowbotham. Brian qualified as a Chartered 
Accountant with Deloitte & Touche and had a long career in the City including at Save and Prosper and F&C Management 
Ltd. Brian joined Teather and Greenwood in 1997 and was involved as partner and then Finance Director in the Company's 
flotation on AIM and subsequent move to the Official List. He ran his own consultancy specialising in turnarounds and 
start-ups until joining Hichens, Harrison & Co plc in 2005 - sold to Religare Enterprises in May 2008. Aside from being 
a colleague, Brian was a good friend and he is missed greatly. 
 
Post the year end we sold approximately 94% of our holding in Phoenix Digital Assets plc in a tender offer for the sum 
of GBP235,125. 
 
We also sold our holding in Impact Oil & Gas Limited, to Africa Oil Corp, receiving the sum of GBP142,250, a 5.6X return 
on the Company's investment. 
 
Elephant Oil Corp, where we hold 659,091 shares, has been seeking to list on an exchange at a price of USD4-USD5 per share. 
It has to date not achieved this flotation but we are pleased to note that the company has recently acquired 3 oil 
exploration blocks in Cote D'Ivoire to complement its portfolio in Benin and Namibia. 
 
Mosi Copper Limited, an Africa-focused copper exploration company where we are a founder shareholder, continues to make 
good progress, has recently commissioned magnetics on its licence interests and plans to float on a stock exchange in 
the near term. 
 
Golden Shield Resources has announced a non-binding letter of intent with Tucano Gold Inc. ("Tucano Gold") pursuant to 
which it will acquire all of the issued and outstanding securities of Tucano Gold in exchange for securities in Golden 
Shield. 
 
We now hold cash of approximately GBP340,000 and ordinary shares and/or convertible loans and/or warrants in the 
following entities: 
 
D3 Energy 
Electrum Discovery Corp 
Elephant Oil Corp 
Laiva Gold Inc 
Mafula Energy Limited 
Minergy Limited 
Mosi Copper Limited 
New Horizon Oil & Gas Limited 
Orcadian Energy plc 
Phoenix Digital Assets plc 
Pilar Gold Inc 
Rift Resources Limited 
Royal Road Minerals Limited 
Supernova Digital Assets plc 
Trigon Metals Inc 
Tucano Gold Inc 
Unicorn Mineral Resources plc 
 
We look forward to updating the market on further new investments in the coming months. 
 
Gavin Burnell 
Managing Director 
 
 
For further details please contact: 
Hot Rocks Investments plc 
Gavin Burnell Tel: 0207 2644 546 
 
Optiva Securities Limited 
Vishal Balasingham Tel: 0203 981 4174 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
HOT ROCKS INVESTMENTS PLC 
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 
FOR THE YEAR ENDED 31 MARCH 2024 
                                                 2024          2023 
                                                 GBP            GBP 
Continuing Operations 
 
Revenue                                              -            - 
 
Operating expenses                                        (67,902)        (78,206) 
Other profit/(loss) - sale of financial assets at fair value through profit and loss account   775           (62,462) 
 
Foreign exchange loss on financial assets                             -            (30,108) 
Movement in fair value of financial assets through profit 
                                                 113,928         (197,063) 
and loss 
 
OPERATING PROFIT/(LOSS)                                      46,801         (367,839) 
 
Finance income                                          183           28 
 
PROFIT/(LOSS) BEFORE INCOME TAX                                  46,984         (367,811) 
 
Income tax                                            -            - 
 
 
PROFIT/(LOSS) AFTER INCOME TAX                                  46,984         (367,811) 
                                                     ?????????? 
                                                             ?????????? 
 
 
 
 
 
 
Other Comprehensive Income 
 
Items that may be reclassified subsequently to profit or loss                   -            - 
 
 
Fair value change in value on financial assets                          -            - 
 
 
 

Total Comprehensive income/(loss) for the year 46,984 (367,811)

?????????? ??????????

Basic Earnings per share (pence) 0.03 (0.21)

Diluted Earnings per share (pence) 0.02 (0.19)

HOT ROCKS INVESTMENTS PLC 
STATEMENT OF CHANGES IN EQUITY 
FOR THE YEAR ENDED 31 MARCH 2024 
 
            Issued capital  Share premium    Other reserves  Retained earnings  Total equity 
            GBP         GBP          GBP         GBP          GBP 
Balance at 1 April 2024 173,602      1,174,631      115,600      (989,460)      474,373 
Profit for the year   -         -          -         46,984        46,984 
 
                 173,602    1,174,631       115,600     (942,476)       521,357 
 
            ??????????    ?????????????    ??????????    ??????????      ?????????? 
 
           Issued capital    Share premium   Other reserves   Retained earnings  Total equity 
           GBP          GBP         GBP         GBP          GBP 
Balance at 1 April  173,602       1,174,631     115,600      (621,650)      842,183 
2023 
                                                   (367,811) 
Loss for the year  -          -         -         (367,811) 

173,602 (989,460)

1,174,631 115,600 474,373

?????????? ????????????? ?????????? ?????????? ??????????

HOT ROCKS INVESTMENTS PLC 
STATEMENT OF FINANCIAL POSITION 
AS AT 31 MARCH 2024 
Notes                                        2024     2023 
                                           GBP       GBP 
ASSETS 
 
       NON-CURRENT ASSETS 
 
        Financial assets designated as fair value through profit or loss   408,583    385,171 
 
       CURRENT ASSETS 
 
        Financial assets designated as fair value through profit or loss   416,240    344,393 
        Trade and other receivables                     117      606 
        Cash and cash equivalents                      5,386     21,928 
 
                                           421,743    366,928 
 
       TOTAL ASSETS                              830,326    752,098 
                                           
 
EQUITY 
 
       ISSUED CAPITAL AND RESERVES 
 
        Issued share capital                         173,602    173,602 
        Share premium                            1,174,631   1,174,631 
        Reserves                               115,600    115,600 
        Retained loss                            (942,476)   (989,460) 
 
        TOTAL EQUITY                             512,357    474,373 
 
CURRENT LIABILITIES 
 
       Trade and other payables                        308,969    277,725 
 
 
TOTAL EQUITY AND LIABILITIES                             830,326    752,098 
                                          
 

----------------------------------------------------------------------------------------------------------------------- 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.

-----------------------------------------------------------------------------------------------------------------------

ISIN:     GB00B1WV3198 
Category Code: FR 
TIDM:     HRIP 
LEI Code:   213800JNSRPMZVREEO51 
Sequence No.: 350005 
EQS News ID:  1999023 
 
End of Announcement EQS News Service 
=------------------------------------------------------------------------------------
 

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(END) Dow Jones Newswires

October 01, 2024 02:00 ET (06:00 GMT)

© 2024 Dow Jones News
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