Business
Interim Results
Interim Results.
About this update from East Star Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4593N\n East Star Resources PLC\n 30 September 2021\n \n \n \n \n East Star Resources\n \n \n (\"East Star\" or \"the Company\")\n \n \n Interim Results to 31 May 2021\n \n \n \n \n \n \n \n \n East Star Resources Plc, a London listed natural resources company, is pleased to present its interim results for the six-month period ended 31 May 2021.\n \n \n \n \n \n Highlights\n \n \n \n \n \n • Successfully admitted to trading on the London Stock Exchange (\"LSE\") as of 4th May 2021\n \n \n \n \n \n • Cash Balance at period of £2,053,719\n \n \n \n \n \n Chairman Statement\n \n \n \n \n \n I am pleased to present the interim financial statements to shareholders for the period from incorporation on 17 November 2020 to 31 May 2021.\n \n \n \n \n \n During the period under review the Company was primarily concerned with listing on the standard segment of the London Stock Exchange. As alluded to above we were successfully able to list the Company on 4th May 2021 and enjoyed 2 months of trading before entering a temporary suspension to facilitate a potential RTO transaction.\n \n \n \n \n \n On 19th July we were delighted to announce that East Star had entered into binding Heads of Terms (\"Term Sheet\") to acquire 100% of the share capital by way of a reverse takeover (\"the Transaction\") of Discovery Ventures Kazakhstan Limited (\"DVK\"), a private Kazakhstan registered company. DVK has negotiated the rights to certain prospective gold and base metals exploration licences in the Chu-ili and Rudny Altai mineral belts (the \"Projects\") through a joint venture agreement with Kazakhstan National Mining Company, Tau-Ken Samruk JSC (\"TKS\").\n \n \n \n \n \n The Kazakhstan region has been overlooked as a mining destination for many years, but has a well-established history of gold and base metals success. Our vision is to build on this initial transaction and grow a portfolio of near-term production and high-impact exploration assets in a significant, but underdeveloped, mining-friendly jurisdiction. We are now conducting due diligence and hope to conclude the transaction as soon as possible\n \n \n \n \n \n In spite of the challenges that have affected the world over the last 24 months our plans remained uninterrupted and I can confir...