Interim Results for the six months ended 31st D...

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY IMC TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

INTERIM RESULTS FOR THE PERIOD 1^ST JULY TO 31^ST DECEMBER 2019

IMC Exploration Group Public Limited Company (the “Company”)
Chairman’s Statement for the period 1^st July to 31^st December 2019

The Directors of IMC Exploration Group plc are pleased to present the interim financial results for IMC for the six months to 31st December 2019. The consolidated, unaudited financial statements presented below have been reviewed by the Company's auditors. 

IMC completed its Mineral Resource Estimate in accordance with the JORC Code (2012) on its Avoca historic mine site project in Avoca, Co. Wicklow.  The Mineral Resource Estimate for the Avoca spoils and tailings is transformatory for the Company. Spoils’ heaps projects with demonstrable economic potential are presently much in demand. There is scope to increase the tonnage and grade, not only on this site, but also on the other spoils’ heaps within IMC’s licence area which includes West Avoca and the company is currently working on advancing this.  We will keep our shareholders informed of progress.

Exploration work continues on our Kilmacoo project in collaboration with Trinity College Dublin. This is an extremely positive development for IMC.

The last six months have been highly encouraging for IMC. The directors are confident that, with the price of gold currently trading above $1,600 an ounce, IMC is well positioned to realise its potential to the benefit of its shareholders. I look forward to reporting further progress in the coming weeks and months.

Eamon O’Brien,
Chairman

IMC Exploration Group Public Limited Company
Consolidated Statement of Comprehensive Income
for the period 1^st July 2019 to 31^st December 2019

Continuing Operations 

	Notes	Dec’19	Jun’19
Administrative expenses		(156,319)	(366,816)
Operating Loss for the period		(156,319)	(366,816)
Finance Income		-	-
Amount written off Intangible Assets			-
Amount written off investment		-	-
		__________	_________
Loss for period before tax		(156,319)	(366,816)
Income tax expenses		-	(2,047)
		_________	_________
Total comprehensive loss for the period		(156,319)	(368,863)
		=========	=========
Loss attributable to:
Equity holders of the Company		(156,319)	(368,863)
		=========	=========
Total Comprehensive Loss attributable to:
Equity holders of the Company		(156,319)	(368,863)
		=========	=========
Earnings per share
From continuing operations
Basic and Diluted loss per share (cent)		0.1	0.1

All activities derived from continuing operations. All losses and total comprehensive losses for the period are attributable to the owners of the Company.

The Company has no recognised gains or losses other than those dealt with in the statement of comprehensive income.

IMC Exploration Group Public Limited Company
Consolidated Statement of Financial Position
for the period 1^st July 2019 to 31^st December 2019

	Notes	Dec’19	Jun’19
Assets
Intangible assets		472,812	471,117
Property, plant and equipment		1,506	1,723
Investments		-	-
		__________	__________
Total Non-Current Assets		474,318	472,840
		__________	__________
Current Assets
Trade and other receivables		144,034	39,373
Cash and cash equivalents		(35,623)	(30,403)
		__________	__________
Total Current Assets		108,411	8,970
		__________	__________
Total Assets		582,729	481,810
		=========	=========
Equity
Share Capital		322,839	293,107
Share premium		3,925,015	3,645,171
Retained deficit		(3,805,498)	(3,649,179)
		__________	_________
Attributable to owners of the Company		442,356	289,099
		__________	__________
Total Equity		442,356	289,099
		__________	__________
Liabilities – Current
Trade and other payables		138,326	190,664
Current tax liabilities		2,047	2,047
		__________	__________
Total Liabilities		140,373	192,711
		__________	__________
Total Equity and Liabilities		582,729	481,810

IMC Exploration Group Public Limited Company
Consolidated Statement of Changes in Equity
for the period 1^st July 2019 to 31^st December 2019

	Share Capital €	Share Premium €	Retained Losses €	Total €
Balance at 30 June 2018	278,107	3,490,942	(3,280,316)	488,733
	___________	__________	_________	_______
Total comprehensive income for the period
Loss for the period	-	-	(368,863)	(368,863)
	__________	___________	__________	_________
Total comprehensive income for the period	-		(368,863)	(368,863)
Transactions with owners, recorded directly in equity
contributions by and distributions to owners
Shares issued	15,000	165,781	-	180,781
Share issue costs	-	(11,552)	-	(11,552)
	__________	___________	__________	_________
Total transactions with owners	15,000	154,229	-	169,229
	__________	___________	__________	_________
Balance at 30 June 2019	293,107	3,645,171	(3,649,179)	289,099
	__________	___________	__________	_________
Total comprehensive income for the period
Loss for the period	-	-	(156,319)	(156,319)
	__________	___________	__________	_________
Total comprehensive income for the period	-		(156,319)	(156,319)
Transactions with owners, recorded directly in equity
contributions by and distributions to owners
Shares issued	29,732	296,224	-	325,956
Share issue costs	-	(16,380)	-	(16,380)
	__________	___________	__________	_________
Balance at 30 June 2019	322,839	3,925,015	(3,805,498)	442,356
	__________	___________	__________	_________

MC Exploration Group Public Limited Company

Consolidated Statement of Cash Flows

for the period 1^st July 2019 to 31^st December 2019

	Notes	Dec’19	Jun’19
Cash flows from operating activities
Loss for the year		(156,319)	(368,863)
Adjustments for:
Intangible Assets Write Off		-	-
Income Tax recognised in profit and loss		-	2,047
Depreciation		216	431
		________	________
Cash from operations before changes in working capital		(156,103)	(366,385)
Movement in trade and other receivables		(104,660)	(39,373)
Movement in trade and other payables		(52,338)	134,859
		_________	_________
Net cash flow from operating activities		(313,101)	(270,899)
Cash flows from investing activities
Interest received		-	-
Proceeds from sale of investments		-	-
Taxation		-	-
Acquisitions and disposals		(1,695)	(141,143)
		_________	_________
Net cash (used in) investing activities		(1,695)	(141,143)
		_________	_________
Cash flows from financing activities
Proceeds from the issue of new shares		309,576	169,229
Finance income/(expense)		-	-
		_________	_________
Net cash generated by financing activities		309,576	169,229
		_________	_________
Movement in cash and cash equivalents		(5,220)	(242,813)
Cash and cash equivalents at beginning of year		(30,403)	212,410
		_________	_________
Cash and cash equivalents at end of year		(35,623)	(30,403)

The Directors of IMC, after due and careful enquiry, accept responsibility for the contents of this announcement.

REGULATORY ANNOUNCEMENT ENDS.

Contact Details:
IMC Exploration Group plc
Kathryn Byrne: [phone]

Keith, Bayley, Rogers & Co. Limited
Graham Atthill-Beck: [phone] / [phone] / [phone] [e-mail] 
Brinsley Holman: [phone] / [e-mail]