UNAUDITED INTERIM RESULTS TO 31 AUGUST 2016
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.
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
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
This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014.
For further information contact:
01604 845 551
Cairn Financial Advisers LLP
Advisor / James Caithie
020 7213 0882
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