RE: KNDC30 Oct 2023 22:27
Latest FINANCIAL RESULTS: SEPT 2023
During the period, the Group made a loss before taxation of £1.95 million (6 months ended 30 June 2022: £5.05 million, year ended 31 December 2022: £5.50 million). There was a weighted basic loss per share of 1.163p (30 June 2022: 3.136p, 31 December 2022: 3.355p). During the period, the Group disposed of its Yangibana Joint Venture Interest. This interest was held in the Company's wholly owned subsidiary, Mojito Resources "Mojito" which acquired 2,452,650 shares in Hastings Technology Metals Ltd in return valued at AUD $9m. Therefore, the sale's profit is reflected in the subsidiary, not the Company's accounts. Mojito, in turn, sold these shares to the Company for $9m, which resulted in an amount owing to the subsidiary of £4.75m at the period end in the Company's accounts. This transaction constitutes a related party transaction. The Company currently holds an investment in Mojito of £0.96m, supported by the intercompany balance of £4.75m. Should the intercompany loan be waived this would result in a profit of approximately £3.79m, based on the balances at 30 June 2023, for the Company.
The total assets of the Group increased from £21.64 million at 31 December 2022 to £25.79 million. During the period, our net cash outflow from operating activities was £0.76 million, gross proceeds of £1.31m were raised through the issue of loans and new shares, and our net cash position was up £0.47 million at £0.58 million.
THE MOST COMPLICATED SET UP I HAVE EVER SEEN IN ANY CO ON THE STOCK MARKET
funding funding funding'' buy lots and lot of stock in lots and lots of rear earth CO and when they sell back there stake they take shares instead of the cash and end up with trouble in Brazil and don't know if they will still have the licence for the LITHIUM project they spent £3.5m on as the government has since designate lithium as critical metal and no more licence will be granted LOL!! and after all that they end the year with only £0.58m ?
just too complicated for me to invest in TBH DYOR, even with the financing news today'' as it's not KNDC that will get the money that they pumped to the stock Market today, it will be the CO they hold shares in LOL!! I would rather stay with RED ROCK TBH, better the devil you know'' as KNDC SP was 25p in 2021 and before the financing news today the SP was sitting at 4.50p and thats the kind CO BB'' is full of praises for and how better they are than us LOL!!
I THINK KNDC IS A COMPLETE FAILOR MY SELF, AND INVESTORS WOULD BE WISE TO STAY WELL AWAY FROM THESE type of SCAM if they have any brains, and if they got caught with the hype today at 8.50p it would be better to cut there losses in the Morning and sell back at 7p before SP go back to the 4.5p that it was before the news or less
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