from Veni Vidi Vici Limited
VVV Resources Limited: Interim Results for the six months ended 30 June 2021
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VVV Resources Limited (VVV)
VVV Resources Limited ("VVV" or the "Company")
Interim Results for the six months ended 30 June 2021
VVV Resources Limited (formerly Veni Vidi Vici Limited) announces its unaudited interim results for the six months ended 30 June 2021.
Overview On 30th June 2021 the Company was renamed VVV Resources Limited.
Due to strict COVID-19 restrictions in Australia, the Company advises that it has completed limited physical work on its Shangri La Project.
The Shangri La Project is a gold-copper-silver project comprising a polymetallic hydrothermal quartz vein type deposit covering an area of 10 hectares. The Shangri La Project is located 10 kilometres west of Kununurra, the central town of the Northeast Kimberley region in Western Australia.
During the last six months, the Company's activities were limited solely to desk studies, due (as per above) to the tight COVID-19 travel restrictions imposed in Australia. Since the end of June 2021, the restrictions have however, been eased and the Company has commissioned an independent Geologist based out of Perth to carry out a site visit to collect samples from the project area.
Furthermore, the Company reported in June 2021 that Donald Strang resigned as a Director of the Company and Lester Kemp, a Geologist with over 25 years experience in the resources sector was elected as the Company's Chief Operating Officer.
A number of projects in Western Australia are currently being reviewed, and shareholders will be provided with further news on these in the year end Report.
FINANCE REVIEW The loss for the period to 30 June 2021 was £134,000 (30 June 2020 - £ 133,000 and 31 December 2020 - £100,000 loss) which mainly related to share based payments, regulatory costs and other corporate overheads. The total revenue for the period was nil. At 30 June 2021, the Company had cash balances of £346,000 (30 June 2020 - £ 339,000 and 31 December 2020 - £272,000).
The interim accounts to 30 June 2021 have not been reviewed by the Company's auditors.
Lester Kemp Director 27 September 2021
The directors of the Company accept responsibility for the contents of this announcement.
For further information please contact:
Unaudited Condensed Company Statement of Comprehensive Income
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6 months to |
6 months to |
Year ended |
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|
|
30 June 2021 |
30 June 2020 |
31 December 2020 |
|
|
|
Unaudited |
Unaudited |
Audited |
|
|
Notes |
£'000 |
£'000 |
£'000 |
|
Continuing operations |
|
|
|
|
|
Revenue |
|
|
|
|
|
Investment income |
|
- |
- |
- |
|
Total gains on AFS investments |
|
- |
- |
- |
|
|
|
|
|
|
|
Administrative costs |
|
(134) |
(64) |
(99) |
|
Share based payments |
|
- |
(69) |
(1) |
|
|
|
|
|
|
|
Operating (loss) |
|
(134) |
(133) |
(100) |
|
|
|
|
|
|
|
Finance costs |
|
|
|
- |
|
(Loss) before tax |
|
(134) |
(133) |
(100) |
|
|
|
|
|
|
|
Taxation |
|
|
|
- |
|
(Loss) for the period |
|
(134) |
(133) |
(100) |
|
|
|
|
|
|
|
Other comprehensive income |
|
|
|
|
|
Translation exchange (loss)/gain |
|
- |
- |
- |
|
Other comprehensive income for the period net of taxation |
|
- |
- |
- |
|
Total Comprehensive Income for the year attributable to the owners of the parent company |
|
(134) |
(133) |
(100) |
|
|
|
|
|
|
|
(Loss) per share: |
|
|
|
|
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Basic and diluted (loss) per share (pence) |
2 |
(7.12) |
(7.68) |
(5.74) |
Unaudited Condensed Company Statement of Financial Position
as at 30 June 2021
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|
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30 June 2021 |
30 June 2020 |
31 December 2020 |
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|
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Unaudited |
Unaudited |
Audited |
|
|
Notes |
£'000 |
£'000 |
£'000 |
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ASSETS |
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|
|
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Non-current assets |
|
|
|
|
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Intangible assets |
|
136 |
136 |
136 |
|
|
|
136 |
136 |
136 |
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|
|
|
|
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Current assets |
|
|
|
|
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Trade and other receivables |
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7 |
- |
18 |
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Cash and cash equivalents |
|
346 |
339 |
272 |
|
|
|
353 |
339 |
290 |
|
|
|
|
|
|
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Total assets |
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489 |
475 |
426 |
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|
|
|
|
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LIABILITIES |
|
|
|
|
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Current liabilities |
|
|
|
|
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Trade and other payables |
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(44) |
(81) |
(67) |
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