Hot Rocks Investmnts - Interim Results to 30 September 2022 - Replacement

Announcement provided by

08/03/2023 10:23

RNS Number : 3071S

Hot Rocks Investments PLC

08 March 2023

The announcement released on 07/03/23 at 18:29 under RNS No 2115S has been re-released to facilitate onward transmission by third party vendors.

The announcement is unchanged and is reproduced in full below.

		HOT ROCKS INVESTMENTS PLC

		("Hot Rocks" or the "Company")

UNAUDITED INTERIM FINANCIAL INFORMATION FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2022

CHAIRMAN'S STATEMENT

I hereby present the interim results for the Company for the six months ended 30^th September 2022.

The Company is an active investor largely in junior natural resources companies.

The Company made a total comprehensive loss of GBP315,898 for the period. The Company will not be paying a dividend. Cash at bank at 30^th September 2022 was GBP10,583, and at 3^rd March 2023 was GBP70,437.
We now hold stakes in the following entities:


Aqru plc
D3 Energy
Elephant Oil Corp
Impact Oil & Gas Limited
Mafula Energy Limited
MedGold Resources Corp
Minergy Limited
Mosi Copper Limited New Horizon Oil & Gas Limited
NFT Investments plc
Pilar Gold Inc
Rift Resources Limited Roquefort Therapeutics Limited
Royal Road Minerals Limited
Trigon Metals Inc

Brian Rowbotham
Non-Executive Chairman
4th March 2023



HOT ROCKS INVESTMENTS PLC CONDENSED STATEMENT OF COMPREHENSIVE INCOME
FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2022
				6 Months		6 Months			Year to
				to 30.9.22		to 30.9.21			31.3.22
Continuing operations

Revenue				0		0			0

Operating expenses				(38,995)		(36,718)			(65,878)

Other (loss) - sale of financial assets at fair value through profit & loss account				(35,108)		(12,762)			(17,831)

Fair value (losses)gains on financial assets				(241,795)		113,761			202,614
				_______ ______					______
(Loss)profit from operations before taxation				(315,898)		64,281			118,905

Corporation tax				0		0			0
				----________- ---- _____					______
(Loss)profit for period				(315,898)		64,281			118,905


Total comprehensive (expenditure)income for the period				(315,898)		64,281			118,905


(Loss)earnings per share (pence)

Basic				(0.18)		0.04			0.11

Diluted				(0.18)		0.04			0.11

















HOT ROCKS INVESTMENTS PLC
CONDENSED STATEMENT OF FINANCIAL POSITION
AS AT 30TH SEPTEMBER 2022			6 Months to 30.9.22		6 Months to 30.9.21			Year to 31.3.22

Assets

Non-current assets

Financial assets at fair value through profit and loss			389,826		204,415			389,529
			_______ ______					______
			389,826		204,415			389,529

Current assets

Financial assets at fair value through profit and loss			331,098		711,638			621,941

Trade and other receivables			55,419		160			40,306
Cash and cash equivalents			10,583		92,815			36,008
			397,100		804,613			698,255

Total assets			786,926		1,009,028			1,087,784


Equity and liabilities

Equity

Called up share capital			173,602		173,602			173,602

Share premium account			1,174,631		1,174,631			1,174,631

Share based payment reserve			115,600		115,600			115,600

Retained loss			(937,548)		(676,174)			(621,650)
			_______		______			----------------______
			526,285		787,659			842,183

Current liabilities

Trade and other payables			260,641		221,369			245,601

Total equity and liabilities			786,926		1,009,028			1,087,784



HOT ROCKS INVESTMENTS PLC
CONDENSED CASH FLOW STATEMENT
FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2022
			6 Months to 30.9.22		6 Months to 30.9.21			Year to 31.3.22
Cash flows from operating activities

Operating(loss)profit			(315,898)		64,281			118,905

Adjustments:
Fair value adjustment of financial assets through
profit and loss			241,795		(113,761)			(202,614)

Loss on disposal of financial assets through profit
and loss			35,108		12,762			17,831

Movements in working capital: Increase in trade and other receivables			-		-			(14,714)

Increase in trade and other payables			15,040		24,770			34,436
			_______ _____				_____
Net cash used in operating activities			(23,955)		(11,948)			(46,156)


Cash flows from investing activities

Proceeds from disposal of financial assets through
profit and loss			13,643		164,856			180,979

Acquisition of financial assets through profit and loss			0		(180,610)			(208,361)
			______ _____				_______
Net cash used in investing activities			13,643		(15,754)			(27,382)

			______		______			______
Decrease in cash and cash equivalents			(10,312)		(27,702)			(73,538)

Cash and cash equivalents at the beginning of the
period			76,314		120,677			109,546
			______ ____				______
Cash and cash equivalents at the end of the period			66,002		92,975			36,008






HOT ROCKS INVESTMENTS PLC
ACCOUNTING POLICIES
FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2022

Financial information

	The financial information set out above does not constitute statutory
	accounts within the meaning of Section 434 Companies Act 2006. It has
	been prepared on a going concern basis in accordance with the recognition
	and measurement criteria of the International Financial Reporting
	Standards (IFRS) as adopted by the European Union.

	The accounting policies used in the preparation of this set of condensed
	interim financial statements are consistent with those set out in the
	Company's annual financial statements for the year ended 31 March 2022.
	Statutory accounts for the year ended 31 March 2022 were approved by the
	Board of Directors on 4 March 2023 and delivered to the Registrar
	of Companies. The report of the independent auditor on those accounts
	was unqualified.

	The financial information for the six months ended 30 September 2022
	has not been reviewed. As permitted, the Company has chosen not to
	adopt IAS 34 "Interim Financial Statements" in preparing this interim
	financial information.

	Risks and uncertainties

	The Board continually assesses and monitors the key risks of the business.
	The key risks that could affect the Company's medium-term performance
	and the factors that mitigate those risks have not substantially changed
	from those discussed in the Financial Statements to 31 March 2022.

	Critical accounting estimates

	The preparation of the condensed interim financial statements requires
	management to make estimates and assumptions that affect the reported
	amounts of assets and liabilities and disclosure of contingent assets and
	liabilities at the end of the reporting period. Significant items subject to
	estimates are set out in the accounting policies of the Company's Financial
	Statements to 31 March 2022.

	The Directors of the issuer are responsible for the content of this
	announcement.

	For further information please contact:
	Hot Rocks Investments plc - Gavin Burnell: 020 7264 4444

	Optiva Securities Ltd - Daniel Ingram Tel: 0203 411 1881 daniel.ingram@optivasecurities.com

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