Business
Unaudited interim financial statements
Unaudited interim financial statements.
About this update from Emmerson Plc
[{"type":"text","content":"\n \nFor immediate release: 24 December 2009\n\n Emerging Metals Limited \n\n (\"EML\", \"Emerging Metals\" or \"the Company\") \n\n Unaudited interim financial statements for the six month period ended 30 \n September 2009 \n\nEmerging Metals Limited (AIM: EML), the mining company focused on minor and\nemerging metals, today announces its interim results for the six month period\nended 30th September 2009.\n\nFINANCIAL AND OPERATIONAL HIGHLIGHTS\n\n* Equity shareholder funds increased 52% to £40,639,903 (31 March 2009: £26,652,271);\n \n* non-current assets valuation maintained at £5,319,860 (31 March 2009: £5,319,860);\n \n* current assets valuation increased 65% to £35,392,803 (31 March 2009: £21,392,111);\n \n* net profits of £13,916,315 achieved for period compared to a loss of £240,270 at \n 30 September 2008;\n \n* holdings in Kalahari Minerals and Extract Resources valued at £34,703,396\n as at 30 September 2009 against a purchase price of £10,024,164 - a rise of\n 246% - of which £14,419,739 was within period;\n \n* 9.06% of Kalahari Minerals Plc held at an average cost of 54.50 pence per\n share (31 March 2009: 8.04% held at an average cost of 45.04 pence per\n share);\n \n* 0.17% of Extract Resources Limited held at an average cost of A$1.1909 per\n share (31 March 2009: 0.17% held at an average cost A$1.1945 per share);\n \n* Tsumeb option remains valued at £4,818,455 (31 March 2009: £4,818,455);\n \n* operating expenses kept below budget at £347,952 (30 September 2008: £726,371);\n \n* cash reserves at 30 September 2009 of £683,176 following investment acquisitions \n in period (31 March 2009: £3,757,960).\n \nCo-chairman Stephen Dattels commented:\n\n\"The acquisition of our interests in Kalahari Minerals and Extract Resources\nhas given Emerging Metals exposure to a world class uranium resource - namely\nthe Husab project in Namibia comprising the Rössing South, Ida Dome and\nHildenhof deposits. Not only is uranium an emerging metal with a very\nfavourable long term supply-demand outlook, the interests also allow Emerging\nMetals to leverage its existing platform and operations at Tsumeb in Namibia.\n\n\"Our half year results to 31 March 2009 are consequently extremely pleasing,\nwith a positive net income for the period of £13,916,315 (31 March 2008: loss\nof £240,270), including an investment...