due diligence on several projects17 Jul 2015 10:27
Acorn Minerals PLC Final Results
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TIDMACO
RNS Number : 3555T
Acorn Minerals PLC
17 July 2015
17 July 2015
ACORN MINERALS PLC
("Acorn" or the "Company")
Final Results for the year ended 31 March 2015
ANNUAL REPORT AND ACCOUNTS
Chairman's Report
It is with pleasure that I present the annual report to shareholders for the year ended 31(st) March 2015.
In the past 12 months your board has continued to identify and assess suitable opportunities in the mining, minerals & energy sectors, including both conventional and alternative energy projects as well as mining and energy infrastructure projects that are consistent with our investment strategy.
To date we have reviewed well over 30 projects that have met this criteria and we are currently carrying out preliminary due diligence reviews on several of them. Whilst we are keen to find a transaction we remain disciplined to only proceed if we are convinced it will be in the best interests of shareholders.
At the period end we have approximately GBP1.252m cash, no debt and continue to keep administration costs to a minimum so that maximum funds can be dedicated to the review of and potentially investment in suitable projects.
We will continue to review projects where we believe value can be created for Acorn shareholders which requires considerable work by your board and on your behalf I thank my fellow directors Charles Goodfellow and Brent Fitzpatrick for their effort and commitment to this cause and I also thank you for your ongoing support.
Tony Brennan
Executive Chairman
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