Our Results
Financial Highlights:
- Loss of £0.578m to 31 August 2007 as exploration programmes progressed to plan
- Cash balance of £4.936m at 31 August 2007
- £4.5m raised through issue of 31,034,482 Ordinary Shares
Highlights:
- Subject to results of planned tests at Snakes Head substantial progress in reaching agreement with a potential technical partner to introduce cost reducing advanced technology for platinum production
- Increased definition of nickel sulphide potential in the Perseverance nickel trend through electro-magnetic survey using SIROTEM
- New gold and silver anomalies which are being followed up
- Marange diamonds legal process and discussions ongoing
- Continued success in obtaining new exploration ground
- First phase targeting of exploration ground in Zambia and Mozambique
Consolidated income statement
for the half year ended 31 August 2007
| Notes | For the half year ended 31 August 2007 | For the year ended 28 February 2007 | For the half year ended 31 August 2006 | |
|---|---|---|---|---|
| Group | Group | Group | ||
| Unaudited £'000 | Unaudited £'000 | Unaudited £'000 | ||
| Revenue | - | - | - | |
| Administrative expenses | (611) | (1,809) | (1,132) | |
| Operating loss | (611) | (1,809) | (1,132) | |
| Finance Income | 33 | 102 | 46 | |
| Loss on ordinary activities before and after taxation | (578) | (1,707) | (1,086) | |
| Loss attributable to the equity holders of the parent company | (578) | (1,707) | (1,086) | |
| Loss per share - basic and diluted | 3 | (0.30)pence | (0.96)pence | (0.66)pence |