Central Kimberley Diamonds Ltd.
Central Kimberley Diamond announces 2006/2007 Year End Results
Central Kimberley Diamonds Ltd. / Final Results Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- West Perth, February 28, 2008 – Central Kimberley Diamonds Ltd (CKD) is pleased to announce, that it has reported its financial and operating results for the fiscal year ended June 30, 2007. The main activity during the last year was the evaluation of a major alluvial diamond project in South Africa. Central Kimberley Diamonds Ltd is a company incorporated and domiciled in Australia and acquired 100 % of the issued share capital of Oldseal South Africa (Proprietary) Ltd (Oldseal South Africa). Through Oldseal South Africa, CKD has identified and developed to an advanced exploration stage a major alluvial diamond project in the Kimberley diamond precinct of South Africa called Plooysburg. The company also has two additional diamond projects under application in South Africa, Middelwater and Postmasburg. Highlights from 2007 operations include: • The flagship project in Plooysburg in the Kimberley region in South Africa entered the final phase of a huge bulk sampling program after CKD has built up an efficient plant in very short-terms and put together a strong and capable team. • In Plooysburg approx. 47,700 tons of gravel have already been treated and more than 20 micro and macro diamonds were found. The wide occurrence of diamonds demonstrates that the palaeo-channel carries diamonds for at least 2.5 km. After having finished Pit 2 the company will start the treatment of approx. 40,000 tons of gravel in Pit 3. • Although CKD has the mineral rights to the farms at Middelwater and Postmasburg, also located in the Kimberley region, the farm owners do not co-operate and negotiations are still pending. Operating Results The company finished the financial year 2006/2007 achieving consolidated revenues amounting to AUD 74,604 or EUR 46,488 of which AUD 67,943 or EUR 42,336 were contributed by interests received. Expenses were mainly affected by exploration expenditure, which amount to AUD 622,838 or EUR 388,105 (2006: AUD 5,172 or EUR 3,223). As CKD was very conservative with its funds and was able to reduce the working costs permanently, now the company disposes of sufficient liquid assets to continue its exploration program at least for the next 12 months. The consolidated operating loss for the year ended June 30, 2007 was AUD 1,339,738 or EUR 834,821 (2006: AUD 444,212 or EUR 276,799). As of June 30, 2007, Central Kimberley Diamonds balance sheet total amounted to AUD 3,557,218 or EUR 2,216,584 (2006: AUD 510,324 or EUR 317,995). A large proportion of this increase resulted predominantly from the current assets (predominantly affected by the company’s liquid assets) of AUD 2,784,101 or EUR 1,734,837 (2006: AUD 47,373 or EUR 29,519). The company’s non-current assets increased to AUD 773,117 or EUR 481,747 (2006: AUD 462,951 or EUR 288,475). The total liabilities of the company amount to AUD 442,161 or EUR 275,521, of which AUD 357,117 or EUR 222,528 are classified as short-term liabilities. In terms of equity and liabilities, the shareholders’ equity increased from AUD 325,435 or EUR 202,786 to AUD 3,115,057 or EUR 1,941,063, which was chiefly caused by several capital increases before and after the Listing of Central Kimberley Diamonds in January 2007 on the Frankfurt Stock Exchange. Due to the placements the issued capital rose from AUD 930,045 or EUR 579,532 in 2006 to AUD 5,072,321 or EUR 3,160,679 in 2007. Outlook After a successful start into the fiscal year 2008, the company is continuing its main business activity, diamond exploration, by expanding into Joint Ventures with local partners in known diamond producing areas in South Africa and other countries in Africa. To this end they are negotiating on up to seven new areas in three different countries. These include primary pipes as well as alluvial deposits. The financial statements have been prepared in accordance with the Corporations Act 2001 and comply with the Australian Accounting Standards, the Corporations Regulations 2001 and with International Financial Reporting Standards. The statements were audited by HLB Mann Judd, an Australian Accountant and are presented in Australian Dollars (currency conversion based on exchange rate as of February 28, 2008). You can find all updated information regarding Central Kimberley Diamonds and its projects on the company’s website www.centralkimberleydiamonds.com. For further information please contact: Investor Relations Central Kimberley Diamonds esVedra consulting GmbH t +49. 89. 28 80 81 33 f +49. 89. 28 80 81 49 info@esvedra-consulting.com www.esvedra-consulting.com 28.02.2008 Financial News transmitted by DGAP ----------------------------------------------------------------------
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