Wishbone Gold Plc: Interim Results for the Six Months Ended 30 June 2015
(firmenpresse) - LONDON, UNITED KINGDOM -- (Marketwired) -- 08/28/15 -- Wishbone Gold Plc / Index: AIM / Epic: WSBN / Sector: Natural Resources
Wishbone Gold Plc (AIM: WSBN) ("Wishbone Gold" or the Company"), the AIM listed exploration and acquisition company focused on identifying and developing precious metal related acquisitions, is pleased to announce its interim results for the six month period from 1 January 2015 to 30 June 2015, highlights of which are set out below.
Foreign exchange reserve records exchanges differences, which arise on translation of foreign operations with a functional currency other than US Dollars; principally Pounds Sterling and Australian Dollars
Notes to the unaudited interim financial information
For the half year from 1 January 2015 to 30 June 2015
1. Basis of preparation
These interim financial statements for the six months ended 30 June 2015 have been prepared in accordance with IAS 34 ''Interim financial reporting''. The interim financial statements should be read in conjunction with the annual financial statements for the year ended 31 December 2014 which have been prepared in accordance with IFRSs as adopted by the European Union.
The operations of Wishbone Gold Plc are not affected by seasonal variations.
The directors do not recommend the payment of a dividend (30 June 2014: US$ Nil).
Non-statutory accounts
The financial information for the six months ended 30 June 2015 set out in this interim report does not
comprise the Group''s statutory accounts.
Audited consolidated financial information for the year ended 31 December 2014 has been extracted from the consolidated financial information on the Group for the year then ended. Abridged accounts for the Company have been filed in Gibraltar.
The financial information for the six months ended 30 June 2015 and 30 June 2014 is unaudited.
Segmental Analysis
Management has determined the operating segments by considering the business from both a geographic and product perspective. For management purposes, the Group is currently organised into one operating division; resource evaluation. This division is the business segment for which the Group reports its segment information internally to the Board of Directors. The Group''s operations are predominantly in Australia.
2. Administrative expenses
Share options were issued to Clive Hyman, the CFO, on 7 March 2014 over 5 million new ordinary shares in the Company to vest as follows: 2,000,000 immediately on grant, 2,000,000 on 7 March 2015, and 1,000,000 on 7 March 2016. The fair value of the options as at the date of issue was US$ 44,756, which have been recognised within administrative expenses in the consolidated income statement.
3. Loss per share
4. Intangible assets
5. Investments held for resale
Investments held for resale relates to a share for share exchange with Global Resources Investment Trust as disclosed in note 6. During the half year, the directors have recognised an impairment loss of US$ 1,146,578 through the consolidated income statement.
6. Share capital
On 7 March 2014 the Company issued 45,772,693 ordinary shares in exchange for 1,031,360 ordinary shares in Global Resources Investment Trust at an issue price of GBP 1 per share net of issue costs of US$ 34,450.
The Company announced a conditional Placing and Open offer on 4 April 2014. A total of new issues, including commission shares, of 33,677,181 new ordinary shares were admitted to trading AIM on 28 April
2014 which raised US$ 780,792 net of expenses of US$ 32,682.
On 17 July 2014 the Company approved the conversion of GBP 7,500 of expenses into 500,000 shares at a price of 1.5 p.
On 27 August 2015 the Company announced that it had raised GBP 250,000 (before expenses) through a placing of 100,000,000 new ordinary shares of 0.1p each at a price of 0.25p per ordinary share. The Company has made an application for the new ordinary shares to be admitted to trading on AIM. It is expected that admission will become effective on 11 September 2015.
7. Distribution of the Interim Report
Copies of this announcement may be obtained from the Company Secretary at the registered office: G1 Haven Court, 5 Library Ramp, Gibraltar. In addition, an electronic version will be available on the Company''s website -
Contacts:
Wishbone Gold Plc
Richard Poulden
Executive Chairman
+971 4343 5134
Wishbone Gold Plc
Clive Hyman
Chief Financial Officer
+44 20 7562 7653
+44 78 0263 4163
Sanlam Securities UK Limited
Simon Clements/Virginia Bull
+44 20 7628 2200
Beaufort Securities Limited
Elliot Hance
+ 44 20 7382 8300
Damson PR
Abigail Stuart-Menteth
+44 7855 526550
Damson PR
Sandra Spencer
+44 7749 813717
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Datum: 28.08.2015 - 06:32 Uhr
Sprache: Deutsch
News-ID 1381926
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Natural Resource Management
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