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All Star Minerals PLC (ASMO)

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Friday 30 September, 2016

All Star Minerals PLC

Half-year Report

ALL STAR MINERALS PLC

("All Star" or the "Company")

UNAUDITED INTERIM RESULTS FOR THE SIX MONTH PERIOD ENDED 30 JUNE 2016

All Star Minerals Plc (ISDX: ASMO), the ISDX Growth Market investing company focused on natural resources, is pleased to announce its interim results for the six month period ended 30 June 2016.

Chairman's Statement

The past six months have continued to be a period in which the Company has shown progress. There have been a number of positive events during the reporting period including the simplification of All Star’s corporate structure and the performance of investee company, NQ Minerals Plc (“NQ”).

In January 2016, the Company announced that all three of its Australian subsidiaries had filed for de-registration by 31 December 2015, which meant that there was no longer any overseas operating subsidiaries. This simplification of All Star’s corporate structure has allowed the Company to view new avenues, and broaden its investing strategy.

In March 2016, All Star raised £18,000 through the issue of 20,000,000 new ordinary shares at a price of 0.09p per share. This money was used for general working capital purposes.

In April 2016, the board announced it noted that NQ had completed the first round of drilling at Ukalunda with further drilling to be completed. The said drilling results were then released in April and showed to be very encouraging with new metals and good ore grades being discovered.

In May 2016, the Company announced that it has raised £92,400 through the issue of 132,000,000 new ordinary shares at a price of 0.07p per share. This money was for general working capital purposes and ongoing activities.

Update

The board of All Star is pleased with what has been achieved over the past six months. The Company has completed the exit from Australian operationally and still maintains 5,519,545 shares or a 3.9% shareholding in NQ, which is shaping up to be an interesting mining company. The board awaits further developments with NQ in the near future. However, All Stars’ aim is not to be passive and potential investment opportunities are being appraised regularly.

Financials

The financial results for the period from 1 January 2016 to 30 June 2016 shows a loss after taxation attributable to equity holders of the parent of £43,205. The basic loss per share was 0.01p. The loss is attributable to ongoing administrative costs associated with the running of the Company.

The Company is carefully managing its working capital and is seeking to raise further funds in the near future.

Outlook

Whilst the Company recorded a small loss for the first half of the year, which was like for like for the same period last year, it is in contrast to historical years. This further demonstrates work that the board has completed to strengthen the balance sheet and put the Company into a much better position.

Whilst there was a reduction in current assets, the board remains encouraged by the prospects longer term in respect of both NQ and potential new investments. The board is continually looking at ways to advance the Company forward in a new direction following the disposal of overseas subsidiaries and assets at the end of last year.

Tomas Nugent

Executive Chairman

30 September 2016

ALL STAR MINERALS PLC
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
SIX MONTHS ENDED 30 JUNE 2016

Unaudited
6 month period ended 30 June 2016
GBP
Audited
year ended
31 December 2015
GBP
Unaudited
6 month period ended 30 June 2015
GBP
Revenue - - -
Administrative expenses (30,205) (207,722) (27,333)
Impairment of investment - (49,993) -
Finance costs (13,000) (22,827) (14,695)
Other income - 441,564 -
(LOSS)/PROFIT BEFORE TAX (43,205) 161,022 (42,028)
Income tax expense - - -
(LOSS)/PROFIT  FOR THE PERIOD/YEAR
(43,205)

161,022

(42,028)
Attributable to:
Equity holder of the parent (43,205) 161,022 (40,648)
Non-controlling interest - - (1,380)
(LOSS)/PROFIT PER SHARE
Basic & diluted (pence per share) (0.01) 0.02 (0.01)


 

ALL STAR MINERALS PLC
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2016

Unaudited
at 30 June 2016

GBP
Audited
At 31 December 2015
GBP
Unaudited
 At 30 June 2015

GBP
NON CURRENT ASSETS
Property, plant and equipment - - -
Available for sale investment - - 731,532
Trade and other receivables - - 4,872
- - 736,404
CURRENT ASSETS
Trade and other receivables 13,381 10,641 28,735
Cash and cash equivalents 40,676 4,384 4,883
Available for sale financial assets 248,380 703,927 -
302,437 718,952 33,618
TOTAL ASSETS 302,437 718,952 770,022
EQUITY PLUS NON-CONTROLLING INTEREST
ISSUED SHARE CAPITAL AND RESERVES
Share capital 409,440 394,240 383,378
Share premium 1,634,602 1,539,402 1,432,199
Reserves 527,268 982,815 1,320,800
Retained profits (2,574,240) (2,531,035) (2,629,017)
Foreign exchange - - 23,516
SUBSCRIBED CAPITAL (2,930) 385,422 530,876
Non-controlling interest - - -
TOTAL EQUITY (2,930) 385,422 530,876

CURRENT LIABILITIES
Trade and other payables 305,367 333,530 239,146
TOTAL EQUITY AND LIABILITIES 302,437 718,952 770,022


Notes:

1. The financial information for the six months ended 30 June 2016 and the six months ended 30 June 2015 has not been audited. The financial information contained in the interim report does not constitute statutory accounts as defined in Section 434 of the Companies Act 2006.

2. Basic loss per share has been calculated using the weighted average number of shares of 819,645,074 (31 December 2015: 707,059,013; 30 June 2015: 675,745,260). Given the loss per share, there are no dilutive instruments in issue at 30 June 2016 and 30 June 2015. At 31 December 2015 diluted earnings per share were calculated using the weighted number of shares including dilutive instruments of 740,025,086.

3. The Directors of the issuer accept full responsibility for this announcement.

ENQUIRIES:

All Star Minerals Plc
Tomas Nugent, Chairman
01473 722768

ISDX Corporate Adviser
Cairn Financial Advisers LLP
Liam Murray
020 7148 7900


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