RE: WOW29 Apr '22
RNS Highlights
· Profit for the year of US$20,580,000 (based on exceptional non-cash gains) (2019 - loss of US$11,193,000)
· Basic earnings per share of 24.4c (2019 - loss per share 15.8c)
· Net assets at 31 December 2021 of $10,894,000 (2020 - net liabilities $10,958,000)
· Minto Metals Corp. ("Minto") is listed on the TSX Venture Exchange ("TSXV")
Post Year End
· Raised £160,000 through a placing in January 2022
· Received first quarterly repayment of C$1m from Minto in March 2022; further repayments due in throughout 2022.
The operating profit for the year of $21,225,000 comprised exceptional gains of $18,571,000 resulting from the assumption of Pembridge's liability to Capstone by Minto as part of Minto's listing and reverse takeover process; a gain on mark-to-market revaluation of the Company's investment in Minto of US$3,800,000; and administrative costs of $1,146,000. The operating loss in 2020 of $10,954,000 comprised an exceptional expense of US$9,369,000 on revaluing the present value of the Capstone liability and administrative costs of US$1,585,000.