Central Asian Minerals and Resources PLC
LSE : CMRP

September 30, 2010 02:00 ET

Interim results for the six months ended 30 June 2010

                                                                                              30 September 2010
                                                                                                   IM00B61FM981
                                                       
                                   Central Asian Minerals and Resources PLC
                                          ("CAMAR" or the "Company")
                                                       
                             Interim Results for the six months ended 30 June 2010

Interim Results

The  Directors of CAMAR are pleased to announce the Company's interim results for the six months ended 30  June
2010. These results show income for the period of US$100,000 and a loss of US$257,752. The results are in  line
with  the Directors' expectations.

CAMAR  floated  on  the  PLUS-quoted market in April 2010 as an investment vehicle. The primary  focus  of  the
Company is to acquire stakes or otherwise to invest in companies with exploration and/or extraction rights over
mineral  resources  located  in central Asia. CAMAR's objective is to achieve substantial  capital  growth  for
shareholders through the creation of a significant company in the mining sector.

Since  flotation,  the  Company  has investigated a number of opportunities  in  pursuance  of  its  investment
strategy,  none of which have come to fruition. In the meantime, the Company continues to provide the  services
of two of its Directors to Gulf International Minerals Limited, in return for the payment of fees to CAMAR.

The  contract  with  Gulf International Minerals Limited accounted for all of the Company's income  during  the
period. The loss was principally attributable to costs associated with the Company's flotation.

The Directors do not recommend the payment of a dividend in respect of the period.

The Directors of CAMAR are responsible for the contents of this announcement.

Enquiries:

Central Asian Minerals and Resources PLC                                                  01624 679 000
Christine Melian or John Leech

St Helens Capital Partners LLP                                                            020 7368 6959
Mark Anwyl or Duncan Vasey
Profit and Loss Account
                                                                   Six months ended      Year ended 31 December
                                                                       30 June 2010                        2009
                                                                                US$                         US$
Income                                                                      100,000                           -
                                                                                                               
Expenditure                                                                                                    
Administrative and other expenses                                         (301,251)                    (30,388)
Depreciation                                                               (25,033)                           -
Bank charges & interest                                                       (405)                       (254)
Foreign exchange difference                                                       -                       (421)
                                                                          (326,689)                    (31,063)
Loss for the period                                                       (226,689)                    (31,063)
                                                                                                               

Balance Sheet
                                                                          30 June 2010         31 December 2009
                                                                                   US$                      US$
Fixed assets                                                                                                   
Tangible assets                                                                500,070                        -
Less depreciation                                                             (25,034)                        -
                                                                               475,036                        -
Current assets                                                                                                 
Trade debtors                                                                   11,539                        -
Prepaid expenses                                                                 5,020                        -
Loan                                                                                 -                  326,938
Cash                                                                           291,145                  173,153
                                                                               307,704                  500,091
Current liabilities                                                                                            
Accrued expenses                                                               (9,268)                        -
Loan                                                                                 -                (500,000)
                                                                                 9,268                  500,000
Net current assets                                                             298,436                       91
                                                                                                               
                                                                                                               
Total asset less current liabilities                                           773,472                       91


Capital and reserves                                                                     
Share premium                                                                1,031,224                   31,154
Profit and loss account                                                      (257,752)                 (31,063)
                                                                               773,472                       91


This financial information set out above has not been reviewed or audited by the Company's auditor.

Contact Information

  • Central Asian Minerals and Resources PLC