Hot Rocks Investments plc: Audited Final Results for year ended 31 March 2023

Hot Rocks Investments plc (HRIP) Hot Rocks Investments plc: Audited Final Results for year ended 31 March 2023 29-Sep-2023 / 14:30 GMT/BST 29 September 2023 HOT ROCKS INVESTMENTS PLC Audited Final Results for year ended 31 March 2023 Chairman’s Statement I hereby present the financial results for the Company for the year ended 31 March 2023.  The Company is an active investor primarily in junior natural resources companies but also in other sectors especially where the Company is able to secure an early-stage low valuation entry point.  The Company made a loss for the year of £367,810, and a profit of £118,905 in the prior year. The Company will not be paying a dividend for the foreseeable future (2022: £Nil) as we seek to reinvest all profits in opportunities with the potential for significant capital growth. Cash and cash equivalents as at the year end of 31 March 2023 were £21,928 (2022: £36,008). We have continued to build and nurture our investment portfolio and we are generally pleased with performance, particularly in light of very difficult market conditions in the space in which we operate. We remain excited about the potential listing on NASDAQ of Elephant Oil Corp at a price of $4-$5 per share where we hold 659,091 shares and Mosi Copper Limited, an Africa-focused copper exploration company where we are a founder shareholder and which plans to float on a stock exchange when markets permit.  In addition, Pilar Gold Inc plans to seek a listing in the near term and we are due to also become a shareholder in Laiva Gold Inc. We now hold stakes in the following entities: Aqru plc (AQUIS: AQRU) Elephant Oil Corp Impact Oil & Gas Limited Mafula Energy Limited MedGold Resources Corp (TSXV:MED) Minergy Limited (Botswana SX) Mosi Copper Limited New Horizon Oil & Gas Limited (trading as T5) NFT Investments plc (AQUIS:NFT) Pilar Gold Inc Royal Road Minerals Limited (TSXV:RYR) Trigon Metals Inc (TSXV:TM) D3 Energy Rift Resources Limited Unicorn Mineral Resources Limited The Board of Directors will continue to introduce further equity positions to the Company to enable additional diversification of the portfolio. Brian Rowbotham Non-Executive Chairman Hot Rocks Investments plc Gavin Burnell Tel: [phone] Optiva Securities Limited Daniel Ingram  Tel: [phone]   HOT ROCKS INVESTMENTS PLC STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED  31 MARCH 2023 Notes 2023 2022 £ £ Continuing Operations Revenue - - Operating expenses (78,206) (65,878) Other loss – sale of financial assets at fair value through profit and loss account (62,462) (17,831) Foreign exchange loss on available-for-sale financial assets (30,108) - Movement in fair value of financial assets through profit and loss (197,063) 202,614 OPERATING (LOSS)/PROFIT (367,839) 118,905 Finance income 28 - (LOSS)/PROFIT BEFORE INCOME TAX (367,811) 118,905 Income tax                                                                                               - - (LOSS)/PROFIT AFTER INCOME TAX (367,811) 118,905 Other Comprehensive Income Items that may be reclassified subsequently to profit or loss - - Fair value change in value on available-for-sale financial assets                           - - Total Comprehensive (loss)/income for the year (367,811) 118,905   HOT ROCKS INVESTMENTS PLC STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED  31 MARCH 2023 Issued capital Share premium Other reserves Retained earnings Total equity £ £ £ £ £ Balance at 1 April 2023 173,602 1,174,631 115,600 (621,650) 842,183 Loss for the year - - - (367,811) (367,811)           173,602        1,174,631              115,600         (989,460)             474,373 Issued capital Share premium Other reserves Retained earnings Total equity £ £ £ £ £ Balance at 1 April 2022 173,602 1,174,631 115,600 (740,555) 723,278 Profit for the year - - - 118,905 118,905          173,602            1,174,631            115,600 (621,650)              842,183   HOT ROCKS INVESTMENTS PLC STATEMENT OF FINANCIAL POSITION AS AT  31 MARCH 2023 2023 2022 £ £ ASSETS   NON-CURRENT ASSETS         Financial assets designated as fair value through profit or loss     385,171 389,529     CURRENT ASSETS         Financial assets designated as fair value through profit or loss 344,393 621,941     Trade and other receivables 606 40,306     Cash and cash equivalents 21,928 36,008         366,928 698,255     TOTAL ASSETS 752,098 1,087,784     EQUITY     ISSUED CAPITAL AND RESERVES         Issued share capital 173,602 173,602     Share premium 1,174,631 1,174,631     Reserves 115,600 115,600     Retained loss (989,460) (621,650)         TOTAL EQUITY 474,373 842,183 CURRENT LIABILITIES     Trade and other payables 277,225 245,601 TOTAL EQUITY AND LIABILITIES 752,098 1,087,784               HOT ROCKS INVESTMENTS PLC STATEMENT OF CASH FLOWS FOR THE YEAR ENDED  31 MARCH 2023 2023 2022 £ £ CASH FLOWS FROM OPERATING ACTIVITIES         Total operating loss /(profit) (367,810) 118,905       ADJUSTMENTS TO RECONCILE TO PROFIT FROM OPERATIONS         Finance income 28 -     ADJUSTMENTS TO RECONCILE PROFIT FROM OPERATIONS (367,782) 118,905       INCREASE IN WORKING CAPITAL         Loss on disposal of financial assets held through profit and loss 62,462 17,831     Foreign exchange loss 30,108 -     Movement in fair value of financial assets through profit and loss 197,063 (202,614)     Decrease/(increase) in trade and other receivables 39,601 (14,714)     Increase in trade and other payables 32,065 34,436     INCREASE/(DECREASE) IN WORKING CAPITAL 361,298 (165,061)     CASH FLOWS FROM OPERATING ACTIVITIES (6,484) (46,156)     CASH FLOWS FROM INVESTING ACTIVITIES         Interest paid 130 -     Purchases of financial assets through profit and loss (70,025) (208,361)     Proceeds from disposal of financial assets through profit and loss 62,300 180,979     NET CASH FLOWS FROM INVESTING ACTIVITIES (7,596) (27,382)     NET CASH FLOWS FROM INVESTING ACTIVITIES (14,080) (73,538)             Cash and cash equivalents as at 1 April 36,008 109,546     CASH AND CASH EQUIVALENTS AS AT 31 MARCH 2023 21,928 36,008             Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

ISIN:	GB00B1WV3198
Category Code:	FR
TIDM:	HRIP
LEI Code:	213800JNSRPMZVREEO51
OAM Categories:	1.1. Annual financial and audit reports
Sequence No.:	275010
EQS News ID:	1738409

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