TIDMHRIP

RNS Number : 3069S

Hot Rocks Investments PLC

08 March 2023

The announcement released on 07/03/23 at 18:29 under RNS No 2112S has been re-released to facilitate onward transmission by third party vendors.

The announcement is unchanged and is reproduced in full below.

 
7 March 2023 
 
 HOT ROCKS INVESTMENTS PLC 
Audited Final Results for year ended 31 March 2022 
 
 CHAIRMAN'S STATEMENT 
 
 

Dear Shareholders,

I hereby present the financial results for the Company for the year ended 31 March 2022. The Company is an active investor primarily in junior natural resources companies.

The Company made a profit for the year of GBP118,905, compared to a loss of GBP38,734 in the prior year. The Company will not be paying a dividend at this stage (2021: GBPNil) as we seek to reinvest all profits in opportunities with the potential for significant capital growth.

Cash and cash equivalents as at the year end of 31 March 2022 were GBP36,008 (2021: GBP109,546).

We have continued to build and nurture our investment portfolio and we are generally pleased with performance. We remain excited about the potential listing on NASDAQ of Elephant Oil Corp at a price of $4-$5 per share where we hold 659,091 shares and Mosi Copper Limited, an Africa-focused copper exploration company where we are a founder shareholder and which we plan to float on a stock exchange when markets permit. In addition, Pilar Gold Inc plans to seek a listing in the near term.

We now hold stakes in the following entities:

   --    Aqru plc (AQUIS: AQRU) 
   --    Elephant Oil Corp 
   --    Impact Oil & Gas Limited 
   --    Mafula Energy Limited 
   --    MedGold Resources Corp (TSXV:MED) 
   --    Minergy Limited (Botswana SX) 
   --    Mosi Copper Limited 
   --    New Horizon Oil & Gas Limited (trading as T5) 
   --    NFT Investments plc (AQUIS:NFT) 
   --    Pilar Gold Inc 
   --    Roquefort Therapeutics Limited (LSE:ROQ) 
   --    Royal Road Minerals Limited (TSXV:RYR) 
   --    Trigon Metals Inc (TSXV:TM) 

The Board of Directors will continue to introduce further equity positions to the Company to enable additional diversification of the portfolio.

Brian Rowbotham

Non-Executive Chairman

For further details please contact:

Hot Rocks Investments plc

Gavin Burnell Tel: 0207 2644 546

Optiva Securities Limited

Daniel Ingram Tel: 0203 981 4178

 
HOT ROCKS INVESTMENTS PLC 
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 
FOR THE YEARED 31 MARCH 2022 
 
 
                                              Notes                                    2022                  2021 
                                                                                        GBP                   GBP 
Continuing Operations 
 
Revenue                                                                                   -                     - 
 
Operating expenses                                                                 (65,878)              (65,290) 
Other (loss)/profit - sale of financial assets 
 at fair value through profit and loss account                                     (17,831)               228,857 
 
Movement in fair value of financial assets 
 through profit 
 and loss                                                                           202,614             (202,302) 
                                                                       --------------------  -------------------- 
OPERATING PROFIT/(LOSS)                          3                                  118,905              (38,735) 
 
Finance income                                                                            -                     1 
                                                                         ------------------    ------------------ 
PROFIT/(LOSS) BEFORE INCOME TAX                                                     118,905              (38,734) 
 
Income tax 6                                                                              -                     - 
                                                                         ------------------    ------------------ 
PROFIT/(LOSS) AFTER INCOME TAX                                                      118,905              (38,734) 
 
 
 
 
 
 
 
  Other Comprehensive Income 
Items that may be reclassified subsequently 
 to profit or loss                                                                        -                     - 
 
 
Fair value change in value on available-for-sale 
 financial assets                                                                         -                     - 
 
                                                     ------------------  ------------------    ------------------ 
Total Comprehensive income/(loss) for the year                                      118,905              (38,734) 
 
 
 
HOT ROCKS INVESTMENTS PLC 
STATEMENT OF CHANGES IN EQUITY 
FOR THE YEARED 31 MARCH 2022 
 
 
 
                        Issued                                                                Retained 
                       capital               Share premium        Other reserves              earnings          Total equity 
                           GBP                         GBP                   GBP                   GBP                   GBP 
Balance 
 at 1 
 April 
 2021                  173,602                   1,174,631               115,600             (740,555)               723,278 
Profit 
 for the 
 year                        -                           -                     -               118,905               118,905 
          --------------------  --------------------------  --------------------  --------------------  -------------------- 
               173,602             1,174,631                     115,600              (621,650)              842,183 
 
 
 
 
 
                        Issued                                                                Retained 
                       capital               Share premium        Other reserves              earnings          Total equity 
                           GBP                         GBP                   GBP                   GBP                   GBP 
Balance 
 at 1 
 April 
 2020                  173,602                   1,174,631               115,600             (701,821)               762,012 
Loss for 
 the 
 year                        -                           -                     -              (38,734)              (38,734) 
          --------------------  --------------------------  --------------------  --------------------  -------------------- 
               173,602             1,174,631                     115,600                     (740,555)       723,278 
 
 
 
 
 
 
HOT ROCKS INVESTMENTS PLC 
STATEMENT OF FINANCIAL POSITION 
AS AT 31 MARCH 2022 
 
 
                                           Notes                        2022                        2021 
                                                                         GBP                         GBP 
ASSETS 
 
 NON-CURRENT ASSETS 
 
     Financial assets designated as fair value 
      through profit or loss                                         389,529                     239,719 
 
 CURRENT ASSETS 
 
     Financial assets designated as fair value 
      through profit or loss                                         621,941                     559,583 
     Trade and other receivables                                      40,306                      25,595 
     Cash and cash equivalents                                        36,008                     109,546 
                                                        --------------------        -------------------- 
                                                                     698,255                     694,724 
                                                        --------------------        -------------------- 
 TOTAL ASSETS                                                      1,087,784                     934,443 
 
 
EQUITY 
 
 ISSUED CAPITAL AND RESERVES 
 
     Issued share capital                                            173,602                     173,602 
     Share premium                                                 1,174,631                   1,174,631 
     Reserves                                                        115,600                     115,600 
                                                                   ( 621,650 
     Retained loss                                                         )                   (740,555) 
                                                  --------------------------  -------------------------- 
     TOTAL EQUITY                                                    842,183                     723,278 
 
CURRENT LIABILITIES 
 
 Trade and other payables                                            245,601                     211,165 
                                                        --------------------        -------------------- 
 
TOTAL EQUITY AND LIABILITIES                                       1,087,784                     934,443 
 
 
 
 
HOT ROCKS INVESTMENTS PLC 
STATEMENT OF CASH FLOWS 
FOR THE YEARED 31 MARCH 2022 
 
 
                                                                       2022                  2021 
                                                                        GBP                   GBP 
CASH FLOWS FROM OPERATING ACTIVITIES 
 
     Total operating profit /(loss)                                 118,905              (38,734) 
 
 ADJUSTMENTS TO RECONCILE TO PROFIT FROM 
  OPERATIONS 
 
     Finance income                                                       -                   (1) 
                                                         ------------------    ------------------ 
 ADJUSTMENTS TO RECONCILE PROFIT FROM OPERATIONS                    118,905              (38,735) 
 
 INCREASE IN WORKING CAPITAL 
 
     Loss/(gain) on disposal of financial assets 
      held through 
      profit and loss                                                17,831             (228,857) 
     Movement in fair value of financial assets 
      through profit and loss                                     (202,614)               202,302 
     (Increase) in trade and other receivables                     (14,714)              (25,595) 
     Return of capital                                                    -                12,339 
     Increase in trade and other payables                            34,436                40,195 
                                                         ------------------  -------------------- 
 (DECREASE)/INCREASE IN WORKING CAPITAL                           (165,061)                   384 
                                                       --------------------  -------------------- 
 CASH FLOWS FROM OPERATING ACTIVITIES                              (46,156)              (38,351) 
 
CASH FLOWS FROM INVESTING ACTIVITIES 
 
     Purchases of financial assets through profit 
      and loss                                                    (208,361)             (285,136) 
     Proceeds from disposal of financial assets 
      through profit and loss                                       180,979               413,165 
                                                       --------------------    ------------------ 
 NET CASH FLOWS FROM INVESTING ACTIVITIES                          (27,382)               128,029 
                                                       --------------------    ------------------ 
 NET CASH FLOWS FROM INVESTING ACTIVITIES                          (73,538)                89,678 
 
 
     Cash and cash equivalents as at 1 April 
      2021                                                          109,546                19,868 
 
                                                       --------------------    ------------------ 
CASH AND CASH EQUIVALENTS AS AT 31 MARCH 2022                        36,008               109,546 
 
 
 
 

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