VVV Resources Limited — Interim / Quarterly Report 2021

Sep 29, 2021

National Storage Mechanism | Additional information

VVV Resources Limited (VVV)

VVV Resources Limited: Interim Results for the six months ended 30 June 2021

29-Sep-2021 / 14:52 GMT/BST

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.

The issuer is solely responsible for the content of this announcement.

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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:

The Company Lester Kemp	+44 (0) 78 1002 0471
AQSE Growth Market Corporate Adviser: Peterhouse Capital Limited Guy Miller/Mark Anwyl	+44 (0) 20 7469 0936

Unaudited Condensed Company Statement of Comprehensive Income

for the six months ended 30 June 2021

		6 months to	6 months to	Year ended
		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:
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

		30 June 2021	30 June 2020	31 December 2020
		Unaudited	Unaudited	Audited
	Notes	£'000	£'000	£'000
ASSETS
Non-current assets
Intangible assets		136	136	136
		136	136	136
Current assets
Trade and other receivables		7	-	18
Cash and cash equivalents		346	339	272
		353	339	290
Total assets		489	475	426
LIABILITIES
Current liabilities
Trade and other payables		(44)	(81)	(67)
Total current liabilities		(44)	(81)	(67)
Total liabilities		(44)	(81)	(67)
Net Assets		445	394	359
EQUITY
Equity attributable to equity holders of the parent
Share capital		-	-	-
Share premium account		863	643	643
Share based payment reserve		26	94	26
Retained earnings		(444)	(343)	(310)
Total equity		445	394	359

Unaudited Condensed Company Statement of Changes in Equity

for the six months ended 30 June 2021

	Share capital	Share premium	Share based payment reserve	Retained earnings	Total attributable to owners of parent
Audited	£'000	£'000	£'000	£'000	£'000
At 31 December 2019	-	623	25	(210)	438
(Loss) for the period	-	-	-	(100)	(100)
Total Comprehensive Income	-	-	-	(100)	(100)
Issue of share capital	-	20	-	-	20
Share based payments		-	1		1
Total contributions by and distributions to owners of the Company	-	20	1	-	21
At 31 December 2020	-	643	26	(310)	359
Unaudited
At 31 December 2020	-	643	26	(310)	359
Loss for the period	-	-	-	(134)	(134)
Total comprehensive income for the period	-	-	-	(134)	(134)
Issue of share capital	-	220	-	-	220
Transactions with owners of the company	-	220	-	-	220
Balance at 30 June 2021	-	863	26	(444)	445

Unaudited Condensed Company Statement of Cash Flows

for the six months ended 30 June 2021

	6 months to	6 months to	Year to
	30 June 2021	30 June 2020	31 December 2020
	Unaudited	Unaudited	Audited
	£'000	£'000	£'000
Cash flows from operating activities
Operating (loss)	(134)	(133)	(100)
Adjustments for:
Share based payment charge	-	69	1
Issue of shares to settle liabilities	0		20
Decrease/(increase) in trade and other receivables	11	18	-
(Decrease)/increase in trade and other payables	(23)	11	(3)
Net cash used in operating activities	(146)	(35)	(82)
Investing activities
Finance Costs	-	-	-
Investment in intangible assets	-	-	-
Net cash outflow in investing activities	-	-	-
Financing activities
Issue of share capital	220	20	-
Issue costs	-	-	-
Net cash from financing activities	220	20	-
Net change in cash and cash equivalents	74	(15)	(82)
Cash and cash equivalents at beginning of period	272	354	354
Cash and cash equivalents at end of period	346	339	272

Notes to the condensed interim financial statements

1.              General Information

Basis of preparation and accounting

The financial information has been prepared on the historical cost basis. The Company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Chairman's Statement. This statement also includes a summary of the Company's financial position and its cash flows.

These condensed interim financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union with the exception of International Accounting Standard ('IAS') 34 - Interim Financial Reporting. Accordingly the interim financial statements do not include all of the information or disclosures required in the annual financial statements and should be read in conjunction with the Company's 2020 annual financial statements.

2.              Earnings per share

The calculation of the basic earnings per share is based on the earnings attributable to ordinary shareholders divided by the weighted average number of shares in issue during the year. The calculation of diluted earnings per share is based on the basic earnings per share, adjusted to allow for the issue of shares and the post-tax effect of dividends and/or interest, on the assumed conversion of all dilutive options and other dilutive potential ordinary shares.

Reconciliations of the earnings and weighted average number of shares used are set out below.

	Six months to	Six months to	Year ended
	30 June 2021	30 June 2020	31 December 2020
	(Unaudited)	(Unaudited)	(Audited)
	(£'000)	(£'000)	(£'000)
Net loss attributable to equity holders of the company	(134)	(133)	(100)
Number of shares Weighted average number of ordinary Shares for the purposes of basic loss per share	1,884,167	1,725,498	1,742,954
Basic and diluted loss per share (pence)	(7.12)	(7.68)	(5.74)

3.              Events after the reporting date

There are no events after the end of the reporting date to disclose.

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ISIN:	VGG9404A1030
Category Code:	MSCM
TIDM:	VVV
LEI Code:	213800OEUSH43X859D83
Sequence No.:	123215
EQS News ID:	1236868

End of Announcement	EQS News Service

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