Half-year Report

UNAUDITED INTERIM RESULTS TO 31 AUGUST 2016

 

CHAIRMAN'S STATEMENT: 

MetalNRG plc 

 

The Board have spent recent months assessing a number of opportunities for investment.  In line with our investment strategy these opportunities have been focused on the natural resources sector with a particular interest in energy minerals, natural resources and fintech opportunities. 

The Board have noted the general recovery in the natural resource sector during 2016, albeit with a pullback in the sector in recent months.  The impact of the difficult conditions in the natural resource sector over the last five years has resulted in many projects being underfunded and thus now presents a tremendous opportunity for a resources investing company such as MetalNRG.

The opportunities available have further increased as a result of the weaker market in recent months, with many participants questioning the potential for the resource market to fully recover and regain the strengths of times past.  This type of market is ideal for bold, contrarian investing which is what MetalNRG will pursue and with the increasing number of opportunities available to us we feel confident that we will be announcing successfully completed transactions in due course. 

Investors should also be aware the Company has a new website, https:// www.metalnrg.com/, where further information about the Company can be found. 

We look forward to what we trust will be an exciting balance of 2016 and the upcoming new year. 

The Directors do not recommend the payment of a dividend.  

The Directors have agreed to continue to waive their fees as previously announced. 

 

Christopher Latilla-Campbell 

Chairman 

11 November 2016 

 

UNAUDITED ACCOUNTS FOR THE SIX MONTHS TO 31 AUGUST, 2016 

 
PROFIT & LOSS ACCOUNT 

for the period to 31 August, 2016 

 

                                                       GBP              GBP 
 
                                          Six months ended Six months ended 
                                            31 August 2016   31 August 2015 
 
Income 
 
Unrealised Foreign Exchange                          5,743              387 
Gains 
 
Interest                                                 -                - 
receivable 
 
Other                                                  101                - 
Income 
 
Total                                                5,844              387 
 
Expenses 
 
Salaries &                                               -                - 
fees 
 
Legal & Professional Fees                         (25,756)         (14,490) 
 
Travelling and                                           -            (412) 
Research 
 
General                                            (3,165)          (2,476) 
Expenses 
 
Total                                             (28,921)         (17,378) 
 
Loss for the                                      (23,077)         (16,991) 
Period 
 
BALANCE SHEET 
 
At 31 August, 2016 

 

                                                        GBP              GBP
As at 31 August As at 31 August 2016 2015 Current Assets Bank 146,726 123,152 Balances Debtors 18,131 16,253 164,857 139,406 Current Liabilities Creditors (6,552) (1,434) 158,305 137,972 Equity Share Capital 243,563 241,660 Share Premium 715,361 667,260 Profit & Loss Account (23,077) (28,588) Prior year reserves (777,542) (753,957) 158,305 137,972 Number of shares in issue as at 11 November 2016 - 67,359,400

 

The Directors of the Company accept responsibility for the contents of this 

announcement. 

 

This announcement contains inside information for the purposes of Article 7 of 

EU Regulation 596/2014. 

 

For further information contact: 

 

MetalNRG plc 

Christopher Latilla-Campbell 

01604 845 551 

 

Cairn Financial Advisers LLP
        
Advisor / James Caithie

020 7213 0882

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