TIDMNSN
RNS Number : 2133F
Natasa Mining Limited
19 April 2011
NATASA MINING LTD
('the Company')
Final Results for the year ended 31 December 2010
Natasa Mining Ltd (the 'Company') announces its final audited
results for the period ended 31 December 2010.
Enquiries:
Chrisilios Kyriakou, Chief Executive Officer
Natasa Mining Limited
Telephone: 020 7514 1480
Angela Peace
Strand Hanson Limited
Telephone: 020 7409 3494
REVIEW OF OPERATIONS AND STATE OF AFFAIRS
During the year, the Company redomiciled from Australia to the
Cayman Islands following shareholders' approval on 27 May 2010.
$0.2 million of fees and expenses were incurred in relation to this
exercise. The accounts presented are those of the newly
incorporated Cayman Islands company. However, in order to present a
true and fair comparison for shareholders the business has been
treated as continuing despite the change in legal entity, and the
comparative figures are those of the predecessor company domiciled
in Australia. .
In December 2009, the Group entered an Agreement with a vendor
group, Vostok Mining, to acquire an 85% interest in two prospective
gold-bearing properties (Pustenoye and Karienoye) in
central-eastern Kazakhstan. Originally, the Agreement was subject
to due diligence to be carried out by the Group prior to 30 March
2010 but this period was subsequently extended to 31 December
2010.
Initially, the due diligence involved the hiring of engineering
and geological support staff in Kazakhstan and reviewing,
validating and digitising the substantial data gathered by Vostok
Mining. This was followed by retaining AMC Consultants Pty Ltd,
international mining consultants, to conduct a site visit, review
all data, assess the resource potential and recommend a first phase
drilling and metallurgical program. The subsequent recommendations
from AMC Consultants resulted in the Group planning seven RC drill
holes, totalling approximately 1,000 metres to: collect enough
mineralized sample for metallurgical tests, including Gravity,
Flotation, Cyanidation of Flotation Tails, and BIOX treatment of
sulphides; collect sufficient sample to determine comminution
parameters relevant to crushing and milling; have sample available
to be stored for future additional tests, and compare and validate
assays and geology from a number of historical drill holes.
The final drill program was revised from the original planned
program due to unseasonal late snow in March with the subsequent
spring/summer melt which replenished the shallow (oxide zone) water
table preventing drilling within the base of the open pit, with the
exception of one drill hole which was drilled from the base of the
pit (40 metres below surface) after increasing the pumping capacity
long enough to keep the open pit dry for the duration of only this
one drill hole. Six RC drill holes tested the Pustenoye deposit and
one drill hole the Karienoye deposit. The RC drill rig also
attempted to drill into the heap leach pad from the top at around
40 metres above the topographical surface. The rig penetrated only
four metres deep before being abandoned. The drilling attempt was
unsuccessful as the size of the rock particles on the upper lift of
the pad appeared to be mostly of a size that did not fit through
the holes of the drill hammer. The rock particles blocked these
hammer receiving holes and as a result there was no sample return.
Secondly, the rock particles were not large enough and were packed
too loosely to be able to be pulverised. A 10kg sample was taken
for assay and minor metallurgical testing.
All new drill holes obtained gold intersections, at the expected
or better gold grades and intervals, except one which failed to
intersect significant mineralisation above detection limit of
0.05ppm gold. This drill hole tested a northwest extension to
orebody 1 and was located outside of the open pit on the natural
surface while the other five RC drill holes were drilled within the
open pit.
The RC drilling re-established the magnitude of gold grades from
Soviet-style categories of resources (C1 and C2), as listed on the
GKZ Kazakhstan state balance and global average gold grades in a
resource estimate subsequently confirmed by an internal company
IDW2 (inverse distance weighted squared) block model "JORC
Inferred" resource estimate. The following inferences were made
from the new drilling:
-- Pustenoye orebody 2 eastern is the highest grade orebody
although it currently contains only around 10% of the tonnage in
the total Pustenoye resource. Drilling found that the orebody is
open towards the southeast so has the potential to significantly
increase the grade of the total Pustenoye resource and is
especially attractive if shallower extensions to the orebody are
discovered, not only extensions at depth.
-- Pustenoye orebody 1 western is a lower grade orebody than
orebody 2 eastern but contains the majority of the tonnage in the
resource estimate. The orebody is open at depth and drilling
confirmed that there is continuity down the easterly dip as
principally a drill hole drilled down the dip was consistently
mineralised and did not exit the orebody.
-- Karienoye Deposit is the lowest grade orebody but has the
largest drill intersection of mineralisation with virtually the
entire drill hole being mineralised (the drill hole did not exit
the orebody at depth). Drilling highlights that high grade shoots
in the deposit appear to dip shallowly towards the northwest, as
observed in a surface adit into a hill adjacent to the hole where
5-20cm wide quartz veins have been mined and sampled.
Throughout the due diligence period, the Group, its management
and its lawyers, in addition to expending substantial moneys on the
properties, carried out extensive negotiations with Kazakhstan
Government officials in order to obtain the many State approvals as
to titles to enable the Group to make a decision to exercise its
right to acquire the interest in the properties. Unfortunately, by
the third quarter of 2010 it became evident that the Group had been
unable to achieve its objectives so the right to acquire the
interest in the mineral properties was disposed of to a Kazakhstan
registered company, at which time the Group received a payment of
$1.5 million by way of compensation. In 2009, the Group had
deposited $1.4 million in a lawyer's escrow account as security for
the purchase consideration, and these funds were recovered in
2010.
In June 2010, the Group acquired a 20% equity interest in Kryso
Resources plc (Kryso) at a cost of $4.9 million. Kryso is an
AIM-listed mineral exploration and development company focused on
projects in Tajikistan. Kryso's primary goal is to bring the Pakrut
gold project, of which it has 100% ownership, into production.
Following the acquisition, Kryso announced a conditional placing of
new ordinary shares to China Nonferrous Metals International Mining
Co. Ltd representing 29.9% of the total issued share capital of the
Kryso to raise GBP11 million before expenses. Prior to the
conditional placing being finalised, the Group disposed of its
holding in Kryso for proceeds of $8.1 million, generating a profit
on the transaction of $3.2 million.
In respect of the Morondava uranium project in Madagascar
(interest 66.8%), the Group expended $0.1 million to renew its
uranium exploration licences.
Over the year, the Group also examined many mineral investment
opportunities, but these did not lead to any positive outcome.
Legal fees of $0.3 million and travel expenses of $0.8 million
were incurred, principally in relation to investigating and
pursuing investment opportunities.
Interest income of $1.56 million was generated.
A foreign exchange gain of $2 million was recognised as a result
of the strengthening of, particularly, the Australian dollar
vis-a-vis the United States dollar.
In March 2010, the Company allotted 9,868,421 new fully paid
ordinary shares upon conversion of the A$9 million Convertible Note
in accordance with its terms.
In May 2010, the Company granted to Strand Hanson Ltd, its
nominated adviser, 193,735 options over ordinary shares. The
options have an exercise price of GBP2 per share and expire on 31
December 2014. An expense of $57,000 being the fair value of the
options granted was recognised.
In June 2010, the Company repaid to shareholders $8.6 million of
capital in cash, on a pro-rata basis.
During the 2010 financial year the Group:
-- Purchased $18.2 million of equity and debt instruments,
excluding the purchase of equity instruments in Kryso referred to
above. At balance date, the Group recognised a gain from the change
in fair value of these instruments of $6.3 million.
-- Generated proceeds of $1.7 million, and recognised a profit
of $0.6 million, from the sale of equity and debt instruments,
excluding the sale of equity instruments in Kryso referred to
above.
-- Recovered a $2.5 million short term loan which had been
advanced to an unrelated company in 2009.
Other than the matters referred to above, in the opinion of the
Directors, there were no significant changes in the state of
affairs of the Group that occurred during the financial year under
review that are not otherwise disclosed in this report or the
consolidated financial statements.
TRADING RESULTS
The profit after income tax of the Group for the year ended 31
December 2010 attributable to equity holders of the Company was
$4,478,210 (2009 : $7,413,344).
SUBSEQUENT EVENTS
Between 1 January 2011 and the date of this report the following
material transactions have occurred. The Group has:
-- Purchased $2.7 million of equity and debt instruments.
-- Generated proceeds of $3.4 million, and recognised a profit
of $2.3 million, from the sale of equity and debt instruments.
In April 2011, the Company's subsidiary, UMC Energy plc, entered
a twelve month option to acquire the entire issued share capital of
a Papua New Guinea (PNG) incorporated company which, if exercised,
would result in the dilution of the Company's equity interest in
UMC Energy from 83.5% to 42.1%. The PNG company presently has a
number of Petroleum Prospecting Licences in PNG and is in the
process of applying for additional licences in that country.
Other than the matters discussed above, there has not arisen in
the interval between the end of the financial year and the date of
this report any item, transaction or event of a material and
unusual nature likely, in the opinion of the Directors of the
Company, to affect significantly the operations of the Group, the
results of those operations or the state of affairs of the Group,
in subsequent financial years.
LIKELY DEVELOPMENTS
A number of mineral operations investment opportunities are
being investigated.
Further information about likely developments in the operations
of the Group and the expected results of those operations in future
financial years has not been included in this report because
disclosure of the information would be likely to result in
unreasonable prejudice to the Group.
NATASA MINING LTD
INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2010
Consolidated
Restated
2010 2009
$ $
------------------------------------------------ ------------ ------------
Total revenue from services - -
Gain on sale of equity and debt instruments 3,818,092 6,852,949
Compensation for foregoing right to acquire
mineral property 1,500,000 -
Financial income 1,594,014 1,965,346
Personnel expenses (2,004,830) (1,336,040)
Audit fees (64,200) -
Audit fees to subsidiary and previous auditors (80,413) (72,334)
Depreciation and amortisation (7,116) (5,943)
Finance expenses (152,135) (408,256)
Foreign exchange gains / (losses) 2,044,833 (2,005,263)
Reversal of impairment losses on investments - 137,255
Reversal of impairment losses on investments
in equity accounted associates - 2,719,670
Impairment losses on receivables - (421,378)
Reversal of impairment losses on receivables - 2,798,790
Legal fees (274,217) (1,509,714)
Redomiciliation costs (242,795) -
Morondava licence fees (108,203) -
Travel expenses (826,920) (521,639)
Other expenses (811,696) (780,099)
------------ ------------
Result from operating activities 4,384,414 7,413,344
Share of net result of associates - -
------------ ------------
Profit before tax 4,384,414 7,413,344
Income tax expense - -
Profit for the year 4,384,414 7,413,344
------------ ------------
Attributable to :
Equity holders of the Company 4,478,210 7,413,344
Minority interest (93,796) -
------------ ------------
Profit for the year 4,384,414 7,413,344
------------ ------------
Basic earnings per share (cents) 16.4 38.3
Diluted earnings per share (cents) 16.4 28.4
NATASA MINING LTD
STATEMENTS OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2010
Consolidated
Restated
2010 2009
$ $
-------------------------------------------- ---- ----------- -------------
Profit for the year 4,384,414 7,413,344
Other comprehensive income:
Change in fair value of equity securities 6,302,603 -
Change in fair value arising on acquisition
of subsidiary - 346,596
Foreign exchange movement (47,587) 597,969
Other comprehensive income for the year 6,255,016 944,565
Total comprehensive income for the year 10,639,430 8,357,909
----------- -------------
Attributable to :
Equity holders of the Company 10,743,344 8,011,313
Minority interest (103,914) 346,596
Total comprehensive income for the year 10,639,430 8,357,909
----------- -------------
NATASA MINING LTD
STATEMENTS OF FINANCIAL POSITION
AS AT 31 DECEMBER 2010
Consolidated
Restated
2010 2009
$ $
----------------------------------------------------------------------------------------- ----------- -----------
ASSETS
Current Assets
Cash and cash equivalents 29,315,691 43,703,987
Trade and other receivables 738,955 7,657,563
Total Current Assets 30,054,646 51,361,550
----------- -----------
Non-Current Assets
Trade and
other
receivables 307,358 -
Exploration and evaluation expenditure - intangible
2,978,035 3,066,266
Other financial assets 23,625,554 488,149
Plant and equipment 15,036 5,396
Total Non-Current Assets 26,925,983 3,559,811
----------- -----------
Total Assets 56,980,629 54,921,361
----------- -----------
LIABILITIES
Current Liabilities
Trade and other payables 209,988 375,434
Loans and borrowings - 8,036,100
Total Current Liabilities 209,988 8,411,534
----------- -----------
Total Liabilities 209,988 8,411,534
----------- -----------
NET ASSETS 56,770,641 46,509,827
----------- -----------
EQUITY
Share capital 41,723,622 39,533,645
Reserves 6,322,134 4,919,069
Retained earnings 8,482,203 1,710,517
----------- -----------
Total equity attributable to equity holders
of the Company 56,527,959 46,163,231
Minority interest 242,682 346,596
----------- -----------
TOTAL EQUITY 56,770,641 46,509,827
----------- -----------
NATASA MINING LTD
STATEMENTS OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2010
Consolidated Attributable to equity holders of the Company
Share Foreign
Fair based Currency
Share value payments Translation Retained Minority Total
2010 capital reserve reserve reserve earnings Total Interest equity
$ $ $ $ $ $ $ $
---------------------- ---- ------------ ---------- -------------- ------------ ---------- ------------ ---------- ---------------
Balance at 1 January
2010 39,533,645 - 4,321,100 597,969 1,710,517 46,163,231 346,596 46,509,827
Total comprehensive
income for the
period
Profit - - - - 4,478,210 4,478,210 (93,796) 4,384,414
Total other comprehensive
income - 6,302,603 - (37,469) - 6,265,134 (10,118) 6,255,016
------------ ---------- -------------- ------------ ---------- ------------ ---------- ---------------
Total comprehensive
income for the period - 6,302,603 - (37,469) 4,478,210 10,743,344 (103,914) 10,639,430
------------ ---------- -------------- ------------ ---------- ------------ ---------- ---------------
Transactions with
owners, recorded
directly in equity
Contributions by
owners
Shares issued on Note
conversion 8,219,343 - - - - 8,219,343 - 8,219,343
Capital return - in
cash (8,654,959) - - - - (8,654,959) - (8,654,959)
Capitalisation of reserves
arising on redomiciliation 2,625,593 - (4,321,100) (597,969) 2,293,476 - - -
Share-based payment
transactions - - 57,000 - - 57,000 - 57,000
------------ ---------- -------------- ------------ ---------- ------------ ---------- ---------------
Total contributions
by owners 2,189,977 - (4,264,100) (597,969) 2,293,476 (378,616) - (378,616)
------------ ---------- -------------- ------------ ---------- ------------ ---------- ---------------
Total transactions with
owners 2,189,977 - (4,264,100) (597,969) 2,293,476 (378,616) - (378,616)
------------ ---------- -------------- ------------ ---------- ------------ ---------- ---------------
Balance at 31 December
2010 41,723,622 6,302,603 57,000 (37,469) 8,482,203 56,527,959 242,682 56,770,641
------------ ---------- -------------- ------------ ---------- ------------ ---------- ---------------
NATASA MINING LTD
STATEMENTS OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2010
Consolidated Attributable to equity holders of the Company
Share Foreign
Fair based Currency
Share value payments Translation Retained Minority Total
2009 capital reserve reserve reserve earnings Total Interest equity
$ $ $ $ $ $ $ $
---------------------- ---- ----------- -------- ------------ ------------ ------------ ----------- --------- ---------------
Balance at 1 January
2009 39,533,645 - 4,055,855 - (5,702,827) 37,886,673 - 37,886,673
Total comprehensive
income for the
period
Profit - - - - 7,413,344 7,413,344 - 7,413,344
Total other comprehensive
income - - - 597,969 - 597,969 346,596 944,565
----------- -------- ------------ ------------ ------------ ----------- --------- ---------------
Total comprehensive
income for the period - - - 597,969 7,413,344 8,011,313 346,596 8,357,909
----------- -------- ------------ ------------ ------------ ----------- --------- ---------------
Transactions with
owners, recorded
directly in equity
Contributions by
owners
Share-based payment
transactions - - 265,245 - - 265,245 - 265,245
----------- -------- ------------ ------------ ------------ ----------- --------- ---------------
Total contributions
by owners - - 265,245 - - 265,245 - 265,245
----------- -------- ------------ ------------ ------------ ----------- --------- ---------------
Total transactions with
owners - - 265,245 - - 265,245 - 265,245
----------- -------- ------------ ------------ ------------ ----------- --------- ---------------
Balance at 31 December
2009 39,533,645 - 4,321,100 597,969 1,710,517 46,163,231 346,596 46,509,827
----------- -------- ------------ ------------ ------------ ----------- --------- ---------------
NATASA MINING LTD
STATEMENTS OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2010
Consolidated
Restated
2010 2009
$ $
--------------------------------------------- ----- ------------- ---------------
Cash flows from operating activities
Cash payments in the course of operations (4,516,613) (3,986,604)
------------- ---------------
Cash used in operations (4,516,613) (3,986,604)
Interest received 1,684,025 2,103,682
Interest paid (152,135) (408,256)
------------- ---------------
Net cash used in operating activities (2,984,723) (2,291,178)
------------- ---------------
Cash flows from investing activities
Purchase of:
- equity investments (22,783,502) (432,987)
- debt instruments (317,384) (16,604,604)
Proceeds from sale of:
- equity investments 9,071,160 2,936,045
- debt instruments - 23,457,553
Compensation for foregoing right to acquire
mineral property 1,500,000 -
Payments for purchases of plant and equipment: (15,170) (6,620)
Loans and advances:
- to associates - (421,378)
- to other entities - (3,955,634)
- funds placed in lawyer's escrow account
for purchase of investments - (1,241,796)
- recovered from lawyer's escrow account for
purchase of investments 1,400,000 -
- repaid by other entities 2,500,000 1,738,139
Net cash (used in) / from investing activities (8,644,896) 5,468,718
------------- ---------------
Cash flows from financing activities
Capital return (8,654,959) -
Proceeds from draw-down of Convertible Note 3,665,339 -
Net cash from financing activities (4,989,620) -
------------- ---------------
Net (decrease) / increase in cash and cash
equivalents (16,619,239) 3,177,540
Cash and cash equivalents at 1 January 43,703,987 32,764,334
Effect of exchange rate fluctuations on cash
held 2,230,943 7,762,113
------------- ---------------
Cash and cash equivalents at 31 December 29,315,691 43,703,987
------------- ---------------
1. SIGNIFICANT ACCOUNTING POLICIES
Natasa Mining Ltd (the "Company") is a company incorporated in
the Cayman Islands. The consolidated financial report of the
Company as at and for the year ended 31 December 2010 comprises the
Company and its subsidiaries (together referred to as the "Group")
and the Group's interest in associates.
The Company was incorporated on 14 April 2010 and acquired all
the assets and liabilities of Natasa Mining Ltd (incorporated in
Australia ("Natasa"). The acquisition of the assets and liabilities
was met by the issue of 29,241,951 ordinary shares in the Company
to the shareholders of Natasa on a 1:1 basis such that the
shareholders of Natasa became the shareholders of the Company. The
results for the year ended to 31 December 2010 are those of the
Group as if no capital reconstruction has taken place. The
comparative information as shown is that of Natasa.
Consolidated
Restated
2010 2009
$ $
2. EARNINGS PER SHARE
Basic earnings per share 16.4c 38.3c
Diluted earnings per share 16.4c 28.4c
Profit attributable to ordinary shareholders
as used in the calculation of basic earnings
per share 4,478,210 7,413,344
Profit attributable to ordinary shareholders
(excluding interest on convertible loan note)
as used in the calculation of diluted earnings
per share 4,478,210 7,821,600
Weighted average number of ordinary shares
used in the calculation of basic earnings per
share 27,241,230 19,373,530
Weighted average number of ordinary shares
used in the calculation of diluted earnings
per share 27,241,230 27,525,704
3. INVESTMENTS IN EQUITY ACCOUNTED
INVESTEES
The Group has the following investments in equity accounted investees
Reporting Ownership
Principal Activities Country Date 2010 2009
UMC Energy Mining exploration and UK 31 Dec * *
plc evaluation on the Morondava
uranium project in
Madagascar
* During the 2009 financial year, UMC Energy plc became a subsidiary of
the Company
Consolidated
Restated
2010 2009
$ $
4. OTHER FINANCIAL ASSETS
Non-current
Equity securities available-for-sale:
- listed 23,625,554 488,149
Total other financial assets 23,625,554 488,149
----------- ---------
5. LOANS AND BORROWINGS
Current
Convertible Note from related entity - 8,036,100
---- --------------
- 8,036,100
------------------------------------------------------------- --------------
In January 2008, the Company issued a Convertible Note to raise A$9
million to Capma Pty Ltd, a company in which a Director, Mr. Kyriakou,
has an interest. During the year, the Group recognised interest charges
of $152,135 (2009: $408,256) on the Note. As at 31 December 2009,
the Group had drawn down A$4,900,000 of the Note, leaving a facility
available of A$4,100,000, which amount was drawn in January 2010.
The Note was converted, under its terms, into 9,868,421 fully paid
ordinary shares in the Company on 16 March 2010.
6. CONTROLLED ENTITIES Interest Interest
Parent entity - Natasa Mining
Ltd Place of 2010 2009
Subsidiaries incorporation % %
Crown Step Ltd BVI 100 100
Kaz Gold Ltd BVI 100 100
Kaz Gold (UK) Ltd UK 100 100
Kaz Gold Mining (UK) Ltd UK 100 -
Natasa Chile SA Chile 100 100
Natasa Management SARL Monaco 100 -
Natasa Mining Chile SA Chile 100 100
Natasa Mining Kazakhstan
LLP Kazakhstan 100 -
Natasa Mining Pty Ltd Australia 100 -
Pacific King Investments
Ltd BVI 100 100
UMC Energy plc (i) UK 83.5 83.5
Uramad SA (i) Madagascar 66.8 66.8
(i) On 16 October 2009, the Company capitalised A$2.4 million of the
loan advanced to UMC Energy plc into new ordinary shares in that company,
increasing its equity interest from 20.6% to 89.9%. On the same day
the Company disposed of a portion of its holding, thus reducing its
holding in UMC Energy to 83.5%. The fair value of the net assets of
UMC Energy plc both on 16 October 2009 and on 31 December 2009 have
been determined by the directors to be $3,066,266.
7. CORPORATE RESTRUCTURE
Natasa Mining Ltd (the "Company") was incorporated in the Cayman
Islands on 14 April 2010.
On 27 May 2010, the Company acquired all the assets and
liabilities of Natasa Mining Ltd (incorporated in Australia)
("Natasa"). The acquisition of the assets and liabilities was met
by the issue of 29,241,951 ordinary shares in the Company to the
shareholders of Natasa on a 1:1 basis such that the shareholders of
Natasa became the shareholders of the Company with each shareholder
holding the same number of shares in the Company, in both absolute
and percentage terms, as they did in Natasa.
There was a return of surplus capital to the shareholders of
Natasa of A$10,234,683 (A$0.35 per share) following which the
cancellation of the Natasa shares took place.
As part of the reconstruction, the Company subscribed for one
share in Natasa which subsequently became a wholly-owned subsidiary
of the Company, at which time Natasa's name was changed to Natasa
Mining Pty Ltd.
The Directors considered that the fair value of the net assets
of Natasa equalled that of their net book value of A$45,983,144
(US$41,723,622) and this value was attached to the 29,241,951
ordinary shares issued by the Company to acquire the assets and
liabilities of Natasa.
The assets and liabilities acquired were as follows:
$
Cash and cash equivalents 40,616,337
Trade and other receivables 1,202,190
Financial assets 351,046
Plant and equipment 8,739
Trade and other payables (454,690)
41,723,622
-----------
8. SUBSEQUENT EVENTS
Between 1 January 2011 and the date of this report the following
material transactions have occurred. The Group has:
-- Purchased $2.7 million of equity and debt instruments.
-- Generated proceeds of $3.4 million, and recognised a profit
of $2.3 million, from the sale of equity and debt instruments.
In April 2011, the Company's subsidiary, UMC Energy plc, entered
a twelve month option to acquire the entire issued share capital of
a Papua New Guinea (PNG) incorporated company which, if exercised,
would result in the dilution of the Company's equity interest in
UMC Energy from 83.5% to 42.1%. The PNG company presently has a
number of Petroleum Prospecting Licences in PNG and is in the
process of applying for additional licences in that country.
The financial effects of the above transactions have not been
brought to account in the financial statements for the year ended
31 December 2010.
9. Publication of non statutory accounts
The financial information set out in this preliminary
announcement does not constitute statutory accounts.
The balance sheet at 31 December 2010 and the profit and loss
account, cash flow statement and associated notes for the year then
ended have been extracted from the Group's 2010 statutory financial
statements upon which the auditors' opinion is unqualified.
10. Annual Report
The Annual Report for the year ended 31 December 2010 will be
available from the Company's website www.natasamining.com
today.
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR ILMFTMBMBBPB
Natasa Min (LSE:NSN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Natasa Min (LSE:NSN)
Historical Stock Chart
From Jul 2023 to Jul 2024
