RNS...24 Dec 2009 07:16
LONDON (Dow Jones)--Emerging Metals Limited (EML.LN), a mining company focused on minor and emerging metals, said Thursday that for the six months ended September 30, it made a pretax profit of GBP13.9 million compared with a loss of GBP0.2 million for the same period in the previous year. MAIN FACTS: -Equity shareholder funds increased 52% to GBP40,639,903 (31 March 2009: GBP26,652,271); -non-current assets valuation maintained at GBP5,319,860 (31 March 2009: GBP5,319,860); -current assets valuation increased 65% to GBP35,392,803 (31 March 2009: GBP21,392,111); -Earnings per share 0.0393 pence 92008: loss 0.0007 pence) -holdings in Kalahari Minerals and Extract Resources valued at GBP34,703,396 as at September 30 against a purchase price of GBP10,024,164 - a rise of 246% - of which GBP14,419,739 was within period; -9.06% of Kalahari Minerals Plc held at an average cost of 54.50 pence per share (March 31: 8.04% held at an average cost of 45.04 pence per share); -0.17% of Extract Resources Limited held at an average cost of A$1.1909 per share (March 31: 0.17% held at an average cost A$1.1945 per share); -Tsumeb option remains valued at GBP4,818,455 (31 March 2009: GBP4,818,455); -operating expenses kept below budget at GBP347,952 (30 September 2008: GBP726,371); -cash reserves at September 30 of GBP683,176 following investment acquisitions in period (March 31: GBP3,757,960). -investment gain of GBP14,419,739 to a valuation of GBP34,703,396 (March 31, 2008: GBP17,627,774). -Cash reserves stood at GBP683,176 (31 March 2008: GBP3,757,960). -By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com (END) Dow Jones Newswires December 24, 2009 02:12 ET (07:12 GMT)