"We highlight the cost savings on the internal workings of the business"
Admin and Exploration Expenses came in at £400,836 for just 6 months That's equiv to £801,672 for a year and this for a company with only a £3m MCAP ! It's also for a skeleton staff of 4 execs and 1 admin person. What a lot of paper clips they must get through !! Perhaps they are gold plated paper clips?!
"and how this has enabled the company to make a profit"
Profit was stated as £147,662
yet Foreign Exchange Gain was £235,900
so is the company actually operating profitably at this juncture or has it been lucky to have a favourable exchange rate? Clearly without that Foreign Exchange Gain they would have made a loss.
Current Liabilities stated as £1.8ml. They were £1.9m in the previous Annual Report so little has been paid down it seems. Any suggestions on how those liabilities will be paid? Maybe a question to ask next time
Share Talk spoke to Andrew Bell, Chairman or Red Rock Resources Plc. We delve into the news release of the unaudited half yearly results until 31st December 2016.
We highlight the cost savings on the internal workings of the business as well as the forward changes that will be taking place and how this has enabled the company to make a profit at the early stage of the upturn of the commodity cycle.
We also talk about the Jupiter Mine asset and what news flow is expected in the future including the next payment from them.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.