TIDMHRIP
RNS Number : 3069S
Hot Rocks Investments PLC
08 March 2023
The announcement released on 07/03/23 at 18:29 under RNS No
2112S has been re-released to facilitate onward transmission by
third party vendors.
The announcement is unchanged and is reproduced in full
below.
7 March 2023
HOT ROCKS INVESTMENTS PLC
Audited Final Results for year ended 31 March 2022
CHAIRMAN'S STATEMENT
Dear Shareholders,
I hereby present the financial results for the Company for the
year ended 31 March 2022. The Company is an active investor
primarily in junior natural resources companies.
The Company made a profit for the year of GBP118,905, compared
to a loss of GBP38,734 in the prior year. The Company will not be
paying a dividend at this stage (2021: GBPNil) as we seek to
reinvest all profits in opportunities with the potential for
significant capital growth.
Cash and cash equivalents as at the year end of 31 March 2022
were GBP36,008 (2021: GBP109,546).
We have continued to build and nurture our investment portfolio
and we are generally pleased with performance. We remain excited
about the potential listing on NASDAQ of Elephant Oil Corp at a
price of $4-$5 per share where we hold 659,091 shares and Mosi
Copper Limited, an Africa-focused copper exploration company where
we are a founder shareholder and which we plan to float on a stock
exchange when markets permit. In addition, Pilar Gold Inc plans to
seek a listing in the near term.
We now hold stakes in the following entities:
-- Aqru plc (AQUIS: AQRU)
-- Elephant Oil Corp
-- Impact Oil & Gas Limited
-- Mafula Energy Limited
-- MedGold Resources Corp (TSXV:MED)
-- Minergy Limited (Botswana SX)
-- Mosi Copper Limited
-- New Horizon Oil & Gas Limited (trading as T5)
-- NFT Investments plc (AQUIS:NFT)
-- Pilar Gold Inc
-- Roquefort Therapeutics Limited (LSE:ROQ)
-- Royal Road Minerals Limited (TSXV:RYR)
-- Trigon Metals Inc (TSXV:TM)
The Board of Directors will continue to introduce further equity
positions to the Company to enable additional diversification of
the portfolio.
Brian Rowbotham
Non-Executive Chairman
For further details please contact:
Hot Rocks Investments plc
Gavin Burnell Tel: 0207 2644 546
Optiva Securities Limited
Daniel Ingram Tel: 0203 981 4178
HOT ROCKS INVESTMENTS PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE YEARED 31 MARCH 2022
Notes 2022 2021
GBP GBP
Continuing Operations
Revenue - -
Operating expenses (65,878) (65,290)
Other (loss)/profit - sale of financial assets
at fair value through profit and loss account (17,831) 228,857
Movement in fair value of financial assets
through profit
and loss 202,614 (202,302)
-------------------- --------------------
OPERATING PROFIT/(LOSS) 3 118,905 (38,735)
Finance income - 1
------------------ ------------------
PROFIT/(LOSS) BEFORE INCOME TAX 118,905 (38,734)
Income tax 6 - -
------------------ ------------------
PROFIT/(LOSS) AFTER INCOME TAX 118,905 (38,734)
Other Comprehensive Income
Items that may be reclassified subsequently
to profit or loss - -
Fair value change in value on available-for-sale
financial assets - -
------------------ ------------------ ------------------
Total Comprehensive income/(loss) for the year 118,905 (38,734)
HOT ROCKS INVESTMENTS PLC
STATEMENT OF CHANGES IN EQUITY
FOR THE YEARED 31 MARCH 2022
Issued Retained
capital Share premium Other reserves earnings Total equity
GBP GBP GBP GBP GBP
Balance
at 1
April
2021 173,602 1,174,631 115,600 (740,555) 723,278
Profit
for the
year - - - 118,905 118,905
-------------------- -------------------------- -------------------- -------------------- --------------------
173,602 1,174,631 115,600 (621,650) 842,183
Issued Retained
capital Share premium Other reserves earnings Total equity
GBP GBP GBP GBP GBP
Balance
at 1
April
2020 173,602 1,174,631 115,600 (701,821) 762,012
Loss for
the
year - - - (38,734) (38,734)
-------------------- -------------------------- -------------------- -------------------- --------------------
173,602 1,174,631 115,600 (740,555) 723,278
HOT ROCKS INVESTMENTS PLC
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2022
Notes 2022 2021
GBP GBP
ASSETS
NON-CURRENT ASSETS
Financial assets designated as fair value
through profit or loss 389,529 239,719
CURRENT ASSETS
Financial assets designated as fair value
through profit or loss 621,941 559,583
Trade and other receivables 40,306 25,595
Cash and cash equivalents 36,008 109,546
-------------------- --------------------
698,255 694,724
-------------------- --------------------
TOTAL ASSETS 1,087,784 934,443
EQUITY
ISSUED CAPITAL AND RESERVES
Issued share capital 173,602 173,602
Share premium 1,174,631 1,174,631
Reserves 115,600 115,600
( 621,650
Retained loss ) (740,555)
-------------------------- --------------------------
TOTAL EQUITY 842,183 723,278
CURRENT LIABILITIES
Trade and other payables 245,601 211,165
-------------------- --------------------
TOTAL EQUITY AND LIABILITIES 1,087,784 934,443
HOT ROCKS INVESTMENTS PLC
STATEMENT OF CASH FLOWS
FOR THE YEARED 31 MARCH 2022
2022 2021
GBP GBP
CASH FLOWS FROM OPERATING ACTIVITIES
Total operating profit /(loss) 118,905 (38,734)
ADJUSTMENTS TO RECONCILE TO PROFIT FROM
OPERATIONS
Finance income - (1)
------------------ ------------------
ADJUSTMENTS TO RECONCILE PROFIT FROM OPERATIONS 118,905 (38,735)
INCREASE IN WORKING CAPITAL
Loss/(gain) on disposal of financial assets
held through
profit and loss 17,831 (228,857)
Movement in fair value of financial assets
through profit and loss (202,614) 202,302
(Increase) in trade and other receivables (14,714) (25,595)
Return of capital - 12,339
Increase in trade and other payables 34,436 40,195
------------------ --------------------
(DECREASE)/INCREASE IN WORKING CAPITAL (165,061) 384
-------------------- --------------------
CASH FLOWS FROM OPERATING ACTIVITIES (46,156) (38,351)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of financial assets through profit
and loss (208,361) (285,136)
Proceeds from disposal of financial assets
through profit and loss 180,979 413,165
-------------------- ------------------
NET CASH FLOWS FROM INVESTING ACTIVITIES (27,382) 128,029
-------------------- ------------------
NET CASH FLOWS FROM INVESTING ACTIVITIES (73,538) 89,678
Cash and cash equivalents as at 1 April
2021 109,546 19,868
-------------------- ------------------
CASH AND CASH EQUIVALENTS AS AT 31 MARCH 2022 36,008 109,546
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END
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