Yellow Cat Uranium Plc
Yellow Cat Uranium Plc: Final results

Yellow Cat Uranium Plc / Final Results

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
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Yellow Cat Uranium plc

Final results for the period ended 31 December 2007
 

Chairman’s statement

Dear Shareholders,

The Directors are pleased to present the annual report and audited accounts
for Yellow Cat Uranium plc covering the year to 31st December 2007.  The
results show a loss of £258,586 for the year to 31 December 2007.

The Company’s principal activity in 2007 was the exploration for uranium on
mining leases in Utah and Colorado in the USA.  The leases are situated in
south-eastern Utah and in the immediately adjacent part of south-western
Colorado and total approximately 10,500 acres.  The Company is also in
negotiations to acquire a further property in the same area, which has some
historical shows of uranium from earlier exploration.

Drilling commenced on the Big Flat Bull canyon property in Utah in
November/December 2007 with 3 holes being drilled.  The results to date
were inconclusive.

The Directors have begun discussion with a Canadian company with a view to
farming out these properties, with the Canadian company paying for further
exploration and the Company being left with a carried interest.

During 2007, the Company acquired properties in Paraguay that seemed to
have potential for uranium and other minerals. After further investigation
of the properties, the Directors made the decision to relinquish its rights
over these properties on the basis of severe long-term licence restrictions
substantially hindering the exercise of its rights over the properties. The
Company had issued 20 million shares to the vendors of the Paraguayan
Company as consideration for the acquisition of these properties, however
the 20 million ordinary shares have been returned and the shares are now
held in trust, as Treasury shares on the Company’s behalf.  The initial
cash payment and advance to the Paraguayan Company has been written off in
the year, a total of £103,788.

The Directors are currently in discussions to acquire some coal properties
in the USA.  Discussions are at an early stage and a further announcement
will be made in due course.

Gearge Heard
Chairman / Managing Director
26th June 2008
 
 
Consolidated profit and loss account for the year ended 31 December 2007


                              Year ended 31      Period
                              December 2007      16 November 2005
                                                 to 31 December 2006

                                    £                     £

Turnover                            -                     -
Cost of sales                       -                     -
Gross profit                        -                     -
  
Administrative expenses           (259,924)            (43,975)
Currency (loss)                     (6,145)             (1,519)
Operating loss                    (266,069)            (45,626)

Interest receivable                  7,694                -
Interest payable                      (211)               -

Loss on ordinary activities
before taxation                   (258,586)            (45,626)
Taxation                               -                  -

Loss on ordinary activities
after taxation                    (258,586)            (45,626)

Dividends                              -                  -

Retained loss for the period
attributable to Shareholders
of the Company                   (258,586)             (45,626)

Loss per share – basic           (0.06) pence          (0.02) pence


Consolidated balance sheet as at 31 December 2007

                               31 December 2007      31 December 2006
                                      £                    £
Fixed assets
Intangible assets                 257,207                78,281
                                  257,207                78,281

Current assets
Debtors                            76,986                22,665
Cash at bank                      181,225                26,475
                                  258,211                49,140 

Creditors – amounts due
within one year                   (31,038)              (99,047) 

Net current 
assets/(liabilities)              227,173               (49,907)

Total assets less current 
Liabilities                       484,380                28,374
    
Share capital and reserves 
Called-up share capital            93,000                74,000
Share premium account             700,602                   -
Treasury shares reserve            (4,000)                  -
Foreign exchange reserve           (1,010)                  - 
Profit and loss account          (304,212)              (45,626) 
    
Equity shareholders’ funds        484,380                28,374
    
The Directors do not recommend the payment of a dividend.

The consolidated results for the period have been extracted from the
audited financial statements of the group for the period and do not
constitute full statutory accounts for the group.
26.06.2008  Financial News transmitted by DGAP
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