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IMC Exploration Group (IMCP) – AGM and Share Placement
IMC Exploration Group (IMCP) – AGM & SHARE PLACEMENT
At the recent Annual General Meeting of IMC, all the resolutions put to shareholders were passed.
The board of IMC Exploration Group plc are also pleased to announce that they have raised £150,000 by way of a Placing and Subscription of 15,000,000 new ordinary shares of €0.01 each in the Company, at a price of 1p per share. Two directors, Liam McGrattan and Nial Ring have subscribed £50,000. Global Resource Investment Trust plc has subscribed a further £50,000.
Following this issue of new ordinary shares, the total number of ordinary shares in issue is 122,816,719.
Chairman, Liam McGrattan commented “IMC continues to make solid progress in its exploration and corporate activities. We look forward to the coming year with enthusiasm.”
Contact Details:
IMC Exploration Group PLC
Liam McGrattan
Tel. +353 872745427
Keith Bayley Rogers & Co. Limited
Hugh Oram
Tel: +44 207 464 4090
IMC Exploration Group (IMCP) – Update on Exploration Programme
IMC Exploration Group Plc is pleased to announce that, in conjunction with its joint venture partner Koza Limited, it has recently commenced an extensive target generation, mapping and rock sampling programme on its Goldmines River licence PL 3857 in Co. Wicklow, and on licence PL 2551 in Co. Wexford. This work, scheduled to commence in early 2017, is in addition to the previous drilling programme, and is part of our works programme on our five precious metal Licence Areas, and is essential preparatory work for our next phase fully funded drilling programme.
Commenting on this development, IMC Chairman, Liam McGrattan said: “The recently published Geological Survey of Ireland Tellus Survey confirms high levels of gold in streams near the Goldmines River and Avoca regions of Wicklow, areas included in our licences. The fact that the new data identifies gold values in streams that flow across and along the edges of the Leinster granite, a complex area long thought to be the source for the gold mineralisation in the region encourages us to believe that this comprehensive, extensive and agreed works programme will identify promising drill targets.”
The Directors of the issuer accept responsibility for this announcement.
Contact Details:
IMC Exploration Group Plc
Mr. Liam McGrattan
Tel. Ireland: +353 87 2745427
Keith Bayley Rogers & Co. Limited
Mr. Hugh Oram
Tel. +44 207 464 4090
Brand Communications
Mr. Alan Green
Tel. +44 (o)7976 431608
IMC Exploration Group (IMCP) – Annual Financial Report
Financial Results IMC Exploration Group PLC (IMCP) for the twelve months to 30th June 2016
Dear Shareholder,
The directors of IMC Exploration Group plc (‘IMC’) are pleased to present the Financial Results for IMC for twelve months to 30th June 2016.
World developments in recent times have had an encouraging effect on the mining sector and IMC is in a position to benefit from these developments. The rising price of gold and zinc since the beginning of the year is very reassuring but we are also very mindful of, and encouraged by, the results of an Irish Government sponsored Tellus geological survey.
Earlier this year, the Geological Survey of Ireland (GSI) released the Tellus Survey, revealing higher than expected values of gold and platinum in the stream and rivers of Counties Wicklow and Wexford in south east Ireland. All five of IMC’s precious metal prospecting licences in Wicklow and Wexford are sited centrally in the survey region, the very licence areas that we continue to explore with our joint venture partners, Koza Limited (a subsidiary of the gold mining major, Koza Altin Isletmeleri AS).
We are delighted to report that The Tellus Survey confirms high levels of gold in streams near the Gold Mine River and Avoca region of Wicklow. This justifies, confirms and validates the current geological exploration programme underway with Koza Limited.
IMC is currently evaluating a number of approaches from international mining companies in relation to its base metal licences. These advances have come as a result of a resurgence of interest in the base metal sector in Ireland, leaving IMC well positioned to take advantage of this via our 10 base metal licences, through the imminent implementation of our base metal Work’s Programme.
IMC continues to make excellent progress in its exploration and corporate activities. We look forward to the coming weeks and months with enthusiasm.
This is a great time for gold and base metals and is an exciting time for IMC.”
Liam McGrattan
Chairman
| Audited Consolidated Statement of Comprehensive Income for the year ended 30 June 2016 | |||||||
| Audited | Audited | ||||||
| Year Ended | Year Ended | ||||||
| Notes | 30-Jun-16 | 30-Jun-15 | |||||
| Euro | Euro | ||||||
| Continuing Operations | |||||||
| Revenue | – | – | |||||
| Other Income / (Expense) | – | – | |||||
| Administrative Expenses | (417,989) | (439,648) | |||||
| (Loss) before tax | (417,989) | (439,648) | |||||
| Income tax expense | 0 | (1,093) | |||||
| (Loss) for period from continuing operations | (417,989) | (440,741) | |||||
| Other Comprehensive income | – | – | |||||
| Loss for the period and total comprehensive loss for the period | (417,989) | (440,741) | |||||
| Earning per share (all continuing) | |||||||
| Loss per ordinary share – basic & diluted | 1 | (0.004) | (0.006) | ||||
| Audited Consolidated Statement of Financial Position As at 30 June 2016 | |||||||
| Audited | Audited | ||||||
| Year Ended | Year Ended | ||||||
| Notes | 30-Jun-16 | 30-Jun-15 | |||||
| Non Current Assets | 2 | 524,725 | 526,189 | ||||
| Current assets | |||||||
| Debtors | 100,135 | 111,671 | |||||
| Cash and cash equivalents | 3,731 | (26,685) | |||||
| Total assets | 628,591 | 611,175 | |||||
| Equity and liabilities | |||||||
| Equity | |||||||
| “A” Ordinary Share Capital | 38,093 | 38,093 | |||||
| Ordinary Share Capital | 107,817 | 74,317 | |||||
| Share Premium – Ord Shares | 2,053,373 | 1,739,769 | |||||
| Retained Earnings | (1,825,938) | (1,407,949) | |||||
| Equity attributable to the owners of the Company | 373,346 | 444,230 | |||||
| Current Liabilities | |||||||
| Trade & Other Payables | 255,245 | 166,945 | |||||
| Total liabilities | 255,245 | 166,945 | |||||
| Total equity and liabilities | 628,591 | 611,175 | |||||
| Audited Consolidated Statement of Changes in Equity for the year ended 30 June 2016 | |||||||
| “A” | Share | ||||||
| Ordinary | Ordinary | Premium | |||||
| Share | Share | Ordinary | Retained | ||||
| Capital | Capital | Shares | Losses | Total | |||
| Euro | Euro | Euro | Euro | Euro | |||
| Balance at 30 June 2015 | 38,093 | 74,317 | 1,739,769 | (1,407,949) | 444,230 | ||
| Loss for the Period | – | – | – | (417,989) | (417,989) | ||
| Other Comprehensive loss for the period | – | – | – | – | – | ||
| Issue of share capital | – | 33,500 | 313,604 | – | 347,104 | ||
| Share Issue Costs | – | – | – | – | – | ||
| Balance at 30 June 2016 | 38,093 | 107,817 | 2,053,373 | (1,825,938) | 373,346 | ||
| Accounting Policies | |||||||
| Basis of Preparation | |||||||
| The financial statements have been prepared on a historical cost basis. | |||||||
| The financial statements are presented in Euro. | |||||||
| 1. Statement of Compliance | |||||||
| The consolidated year end financial statements of IMC Exploration Group PLC and its subsidiary have been reviewed by the auditor and have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union (EU). In addition to complying with its legal obligation to comply with IFRS as adopted for use in the EU, the Group has also complied with IFRS as issued by the International Accounting Standards Board (IASB). | |||||||
| Notes to and forming part of the annual financial statements | |||||||
| 1. Loss per Share | |||||||
| Basic loss per Ordinary Share amounts are calculated by dividing net loss for the period attributable to ordinary equity holders of the parent by the weighted average number of Ordinary Shares outstanding during the period. | |||||||
| Basic earnings per share | |||||||
| The weighted average number of ordinary shares used in the calculation of basic and diluted earnings per share is as follows: | |||||||
| 30-Jun-16 | 30-Jun-15 | ||||||
| Loss for the period attributable to equity holders of the parent | 417,989 | 440,741 | |||||
| Weighted average number of ordinary shares for the purposes of basic earning per share | 107,816,719 | 74,316,719 | |||||
| Basic (loss) per ordinary share | (0.004) | (0.006) | |||||
| 2. Non Current Assets | |||||||
| Exploration | Plant and | Financial | |||||
| Expenditure | Equipment | Assets | Total | ||||
| Euro | Euro | Euro | Euro | ||||
| Cost | |||||||
| At 30 June 2015 | 524,724 | 6,125 | 38,738 | 569,587 | |||
| Disposals | – | – | – | 0 | |||
| At 30 June 2016 | 524,724 | 6,125 | 38,738 | 569,587 | |||
| Provision for diminution in value | |||||||
| At 30 June 2015 | – | (4,660) | (38,738) | (43,398) | |||
| Charge for period | – | (1,465) | 0 | (1,465) | |||
| Disposal | – | – | 0 | 0 | |||
| At 30 June 2016 | – | (6,125) | (38,738) | (44,863) | |||
| Net book value | |||||||
| At 30 June 2016 | 524,724 | 0 | 0 | 524,724 | |||
| Expenditure on exploration activities is deferred on areas of interest until a reasonable assessment can be determined of the existence or otherwise of economically recoverable reserves. No amortisation has been charged in the period. The directors have reviewed the carrying value of the exploration and evaluation assets and consider it to be fairly stated and not impaired at 30 June 2016. The recoverability of the exploration and evaluation assets is dependent on the successful development of the group’s licence areas. | |||||||
| 3. Share capital – Group and Company | |||||||
| 30-Jun-16 | 30-Jun-15 | ||||||
| Euro | Euro | ||||||
| 200,000,000 Ordinary shares of Euro 0.001 each | 200,000 | 200,000 | |||||
| 50,000 “A” Ordinary shares of One Euro each | 50,000 | 50,000 | |||||
| 250,000 | 250,000 | ||||||
| Issued, called up and fully paid | |||||||
| Number of | Share | Share | |||||
| shares | Capital | Premium | |||||
| Euro | Euro | ||||||
| Euro 0.001 Ordinary Shares | |||||||
| As at 30 June 2015 | 74,316,719 | 74,317 | 1,739,769 | ||||
| Issued in period | 33,500,000 | 33,500 | 313,604 | ||||
| As at 30 June 2016 | 107,816,719 | 107,817 | 2,053,373 | ||||
| Issued, called up and partly paid | |||||||
| Number of | Share | Share | |||||
| shares | Capital | Premium | |||||
| Euro | Euro | ||||||
| One Euro A Ordinary Shares | |||||||
| As at 30 June 2015 | 38,093 | 38,093 | – | ||||
| Issued in period | – | – | – | ||||
| As at 30 June 2016 | 38,093 | 38,093 | – | ||||
| “A” Ordinary Shares have the right to receive notice of and attend but not to vote at general meetings, no right to a dividend, right to return of capital but no further right to participate in a distribution of assets of the company. | |||||||
| The directors of the issuer accept responsibility for this announcement. | |||||||
| Contact Details: | |||||||
| IMC Exploration Group PLC | |||||||
| Mr. Liam McGrattan | |||||||
| Tel. Ireland +353 872745427 | |||||||
IMC Exploration (IMCP) – International Mining Developments Impact Positively on IMC
Global events in recent months have impacted very positively on the mining sector and IMC Exploration (ISDX:IMCP) is in a position to benefit from these developments. On a macro level, the rising price of gold and zinc since the beginning of the year is very reassuring but we are also very mindful of, and encouraged by, the results of an Irish Government sponsored/instigated geological survey.
In March 2016, the Geological Survey of Ireland (GSI) released the Tellus Survey, revealing higher than expected values of gold and platinum in the streams and rivers of Counties Wicklow and Wexford in south east Ireland. All five of IMC’s precious metal prospecting licences in Wicklow and Wexford are sited centrally in the survey region, the very licence areas we are exploring with our joint venture partners, Koza Limited (a subsidiary of the gold mining major, Koza Altin Isletmeleri AS).
The Tellus Survey further confirms high levels of gold in streams near the Gold Mine River and Avoca region of Wicklow, justifying, confirming and validating the current geological exploration programme underway with Koza Limited.
The company has had several approaches from international mining companies in relation to its base metal licences. These approaches have come as a result of a resurgence of interest in the base metal sector in Ireland, leaving IMC well positioned to take advantage of this via our 10 base metal licences, through the imminent implementation of our comprehensive, fully costed and attainable 18 month base metal Work’s Programme.
Chairman, Liam McGrattan said: “Ireland’s position as the largest producer of zinc concentrates in Europe and its rank as the 10th largest producer of zinc concentrates in the world, IMC is poised to join the list of companies adding value to this national asset. This is a great time for gold and base metals and is an exciting time for IMC.”
The Directors of the issuer accept responsibility for this announcement.
Contact Details:
IMC Exploration Group Plc
Mr. Liam McGrattan
Tel. Ireland: +353 87 2745427
Keith Bayley Rogers & Co. Limited
Mr. Hugh Oram
Tel. +44 207 464 4090
Brand Communications
Mr. Alan Green
Tel. +44 (o)7976 431608
IMC Exploration Group (IMCP) – Publication of Prospectus
IMC Exploration Group plc
(Incorporated and Registered in Ireland under the Irish Companies Acts 1963-2009 with registered number 500487)
Publication of Prospectus in relation to the proposed application for admission of all of the 107,816,719 Ordinary Shares in issue to the standard segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange
The Directors of IMC Exploration Group plc are pleased to announce that the Central Bank of Ireland has approved the Prospectus dated 17th May 2016 relating to the Company’s proposed application for admission of all of the 107,816,719 Ordinary Shares in issue to the standard segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange.
The prospectus is available on the Company’s website (http://www.imcexploration.com/news/prospectus) and is available for inspection in physical format at the Company’s registered office, 70 Ballybough Road, Ballybough, Dublin 3, Ireland during business hours (Monday – Friday. 9am – 5pm) up to and including 31st May 2016. Investors may also refer to this address to request a paper copy of the prospectus.
The Company will apply for admission of all of the 107,816,719 ordinary shares in issue to the standard segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange and expects admission to take place on or about 31st May 2016.
The Directors take responsibility for this announcement.
Contact Details:
IMC Exploration Group Plc
Mr. Liam McGrattan
Tel. Ireland: +353 87 2745427
Keith Bayley Rogers & Co. Limited
Mr. Hugh Oram
Tel. +44 207 464 4090
Brand Communications
Mr. Alan Green
Tel. +44 07976 431608
18 May 2016
IMC Exploration Group (IMCP) – Placing of New Ordinary Shares
IMC Exploration Group (IMCP) has completed the placing of 10,000,000 new ordinary shares at 1p per share to finance the company’s general working capital requirements.
The Directors of the issuer accept responsibility for this announcement.
Contact Details:
IMC Exploration Group Plc
Mr. Liam McGrattan
Tel. Ireland: +353 87 2745427
Keith Bayley Rogers & Co. Limited
Mr. Hugh Oram
Tel. +44 207 464 4090
Brand Communications
Mr. Alan Green
Tel. +44 (0) 7976 431608
IMC Exploration – Geological Survey of Ireland Tellus Survey Reveals High Levels of Gold in streams near the Goldmines River and Avoca regions of County Wicklow.
The directors of IMC Exploration Group plc (IMCP) note the unprecedented Irish press coverage of a geological survey that has revealed higher than expected levels of gold and platinum in the streams and rivers of Wicklow and Wexford in south east Ireland.
Articles published in recent days in the Irish Times, the Independent, the Journal and several other publications tell how the Geological Survey of Ireland’s (GSI) Tellus programme made the discovery by applying modern testing methods to stream samples collected in the 1980s.
The survey confirms high levels of gold in streams near the Goldmines River and Avoca regions of Wicklow, and the new data identifies high gold values in streams that flow across and along the edges of the Leinster granite.
All five of IMC’s gold prospecting licenses in Wicklow and Wexford are sited centrally in the survey region, and are operated as a Joint Venture agreement with Koza Limited (a subsidiary of Koza Altin Isletmeleri A.S.).
IMC is currently listed on the ISDX market (ticker: IMCP) and is at an advanced stage of seeking a standard listing on the main market of the London Stock Exchange.
Chairman Liam McGrattan commented ‘These encouraging GSI survey results further confirm our own findings for the region. This report justifies, confirms and validates our geological exploration programme underway with Koza Limited. We are very excited by this.’
IMC BACKGROUND:
IMC Exploration Group plc (IMC) was incorporated in Ireland in June 2011 with a view to identifying precious and base metal deposits in Ireland
- IMC holds 15 mineral prospecting licences in Ireland:
- 5 precious metal licences
- 10 base metal licences
- JV agreement commenced in July 2015 between IMC and Koza Gold (a subsidiary of Koza Altin Isletmeleri AS with a current market capitalisation of over US$1 billion) on IMC’s precious metal licences in Wicklow and Wexford
- IMC is currently listed on the London based ISDX market (Ticker: IMCP)
TELLUS SURVEY REPORT:
Tellus Survey Uncovers Platinum and Gold in south east Leinster:
- Precious metal platinum identified in numerous stream sediments for the first time in Leinster
- More gold in Wicklow, Wexford and Waterford than previously known
Applying modern testing methods to stream samples collected in the 1980s, the Geological Survey of Ireland’s Tellus Programme has discovered there is more platinum, gold and precious metals in the streams and rivers of south east of Ireland than previously believed.
- Stream sediment geochemistry – Gold
- Stream sediment geochemistry – Platinum
As well as reconfirming high levels of gold in streams near the Goldmines River and Avoca regions of Wicklow, the new data identifies high gold values in streams that flow across and along the edges of the Leinster granite, a complex area long thought to be a source for the gold mineralisation in the region.
High gold values in streams have also been identified in County Waterford. The recently reanalysed data from the Tellus Survey team also highlights a broad zone of gold in County Wicklow. It is hoped that this new data, along with additional data from samples due to be released later this year, will offer a fresh perspective of Ireland’s natural resources with the scope for further exploration attracting additional inward investment.
The new geochemical data for south east Ireland and all previous phases of the Tellus Survey are available, free of charge, to view and download at www.tellus.ie. The new data released today will be showcased next week at a major international convention, the Prospectors and Developers Association of Canada (PDAC) in Toronto on the 7th March.
Contact Details:
IMC Exploration Group Plc
Mr. Liam McGrattan
Tel. Ireland: +353 87 2745427
Brand Communications
Mr. Alan Green
Tel. +44 (0)7976 431608
Gold explorer IMC close to main market London listing – Irish Independent
by Gavin McLoughlin
Irish minerals explorer IMC expects to be listed on the main market of the London Stock Exchange by the end of March as it seeks to reap the benefits of Ireland’s ‘gold coast’
The company owns prospecting licenses in Wicklow and Wexford, in which there is more gold and platinum than previously thought, according to a study released by the Geological Survey of Ireland (GSI) earlier this week.
IMC, currently listed on London’s ISDX market, has done a deal with Turkish giant Koza as part of its efforts to get gold out of the ground. Separately, the company plans to raise £1m as part of its efforts to tap into its interests in base metals like zinc in Ireland.
“These encouraging GSI survey results further confirm our own findings for the region. This report justifies, confirms and validates our geological exploration programme underway. We are very excited by this,” IMC chairman Liam McGrattan told the Sunday Independent.
“The price of gold has gone up 16pc since the first week of January. It’s a good time for gold, and it’s the right time for IMC to list on the main market of the London Stock Exchange.
“Koza Gold will expend €3.4m on our five precious metal licences in Wicklow and Wexford,” McGrattan said.
Earlier this week, the GSI said there is more platinum, gold and precious metals in the streams and rivers of the south east of Ireland than previously believed.
“As well as reconfirming high levels of gold in streams near the Goldmines River and Avoca regions of Wicklow, the new data identifies high gold values in streams that flow across and along the edges of the Leinster granite, a complex area long thought to be a source for the gold mineralisation in the region,” it said.
Link here for full article