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All Star Minerals plc LSE: ASMO |
Aug 28, 2008 02:00 ET
INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 MAY 2008
28/08/2008
GB00B12T7004/GBP/PLUS-exn
ALL STAR MINERALS PLC
INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 MAY 2008
CHAIRMAN'S STATEMENT
Since my last statement to shareholders in April, worldwide indices and investor confidence have deteriorated,
which has not helped our business. However, there are signs that confidence is tentatively starting to return,
which gives us cause for optimism. Despite the challenging conditions, we are now in a position to press ahead with
our planned AIM listing and raise the necessary finance to rapidly develop our highly attractive project portfolio.
The pathfinder document for the AIM listing has been completed, along with the accompanying Competent Persons
Reports on our assets in Sweden and Australia, and our broker, Simple Investments, anticipates commencing the
planned fundraising during September.
Sweden, where our project portfolio is weighted toward uranium, appears to be leaning toward the continuation and
expansion of its reactor capacity. Earlier this year, Jan Bjorklund, the head of Sweden's Liberal Party, called for
the country to consider constructing an additional four reactors as well as the replacement of the existing units
once the nation's operational reactors reach the end of their lifespans.
FINANCIALS
The financial results for the six months to 31 May 2008 show a loss of £84,372 (2007: £72,549). The basic loss per
share was 0.1350p. The loss is attributable to the company's administrative expenses and exploration development.
OUTLOOK
The next stage in developing All Star Minerals is to raise the necessary funding and move to AIM to enable
development of the project portfolio. The outlook for nuclear power and subsequent demand for its feedstock
continues to strengthen, and I am optimistic that the development of our projects, notably Gilpas, will ensure that
All Star Minerals will play a role in serving this demand.
My board and I will do our utmost toward securing the financing to take All Star to AIM and develop the project
portfolio. I look forward to keeping shareholders abreast on this front over the next couple of months.
Dr Robert Young
Chairman
26 August, 2008
ALL STAR MINERALS PLC
UNAUDITED RESULTS FOR THE PERIOD
FROM 1 DECEMBER 2007 TO 31 MAY 2008
INCOME STATEMENT
6 MONTHS TO 6 MONTHS TO
31/05/2008 31/05/2007
£ £
CONTINUING OPERATIONS
Revenue - -
Administrative expenses (87,372) (80,990)
_________ _________
OPERATING LOSS (87,372) (80,990)
Finance costs (5) -
Finance income 3,005 8,441
_________ _________
LOSS BEFORE TAX (84,372) (72,549)
Taxation - -
_________ _________
LOSS FOR THE PERIOD (84,372) (72,549)
_________ _________
Basic loss per share (0.1350p) (0.1161p)
Diluted loss per share (0.0922p) (0.0795p)
Notes
1. The financial information for the period ended 31 May 2008 has not been audited and does not constitute
statutory accounts within the meaning of Section 240 of the Companies Act 1985, it has however been subject to a
review by the company's auditors.
2. Basic loss per share has been calculated using the weighted average number of shares of 62,500,000. Diluted
loss per share has been calculated using the weighted average number of shares of 91,550,000 (2007 - 91,200,000).
3. The Directors of the issuer accept full responsibility for this announcement.
ENQUIRIES:
ALL STAR MINERALS PLC
ROBERT YOUNG, CHAIRMAN
TELEPHONE: +44 (0) 1353 649 701
EMAIL: B.YOUNG@ALLSTARMINERALS.COM
CORPORATE ADVISERS
ST HELEN'S CAPITAL PLC
BARRY HOCKEN, DIRECTOR
TELEPHONE: 020 7628 5582
EMAIL: BARRY.HOCKEN@STHELENSCAPITAL.COM
For more information, please contact
All Star Minerals plc