Yellow Cat Uranium Plc
Yellow Cat Uranium Plc:
Yellow Cat Uranium Plc / Interim Report 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. ---------------------------------------------------------------------- Yellow Cat Uranium plc Interim Report for the 6 months to 30th June 2008 Dear Shareholders, During the 6 months to 30th June 2008, Yellow Cat Uranium plc incurred a loss of £58,454, compared with £59,943 in the same period last year. In view of the fall in uranium prices and the difficulty of raising finance for exploration at present, Directors decided to look for other methods of continuing to develop the properties in Utah and Colorado. Accordingly, in July, the Company entered into a heads of agreement with Global Uranium Limited under which Global Uranium has agreed to spend up to USD 750,000 over the next 3 years on the properties in Utah and Colorado in order to earn up to a 50% interest in these properties, with the option to increase this interest to 75% by spending a further USD 1,250,000 over the subsequent 2 years.. Directors are in talks to acquire coal properties in the USA and are currently undertaking detailed due diligence and expect to make a further announcement on this before the end of the year. By Order of the Board Mahesh N Patel Director 17th September 2008 Unaudited Consolidated Profit & Loss Account For the six month period ended 30th June 2008Period 01 January 2008 Period 01 January 2007 to Year ended 31 to 30 June 2008 30 June 2007 December 2007£ £ £ Turnover - - - Cost of sales - - - Gross Profit - - - Administrative expenses (59,231) (56,224) (259,924) Currency loss (218) (6,510) (6,145) Operating loss (59,449) (62,734) (266,069) Interest receivable 995 2,791 7,694 Interest payable - - (211) Loss on ordinary activities before taxation (58,454) (59,943) (258,586) Taxation - - - Loss on ordinary activities after taxation (58,454) (59,943) (258,586) Dividends - - - Retained loss for the period attributable To shareholders of the company (58,454) (59,943) (258,586)Unaudited Consolidated Balance Sheet As at 30 June 2008 30 June 2008 30 June 2007 31 Dec. 2007£ £ £ Fixed Assets Intangible Assets 274,825 175,861 257,207 274,825 175,861 257,207 Current Assets Debtors 66,191 62,552 76,986 Cash at bank 124,077 491,884 181,225 190,268 554,436 258,211 Creditors – amounts due within one year (38,224) (44,320) (31,038) Net current assets / (liabilities) 152,044 510,116 227,173 Total assets less current liabilities 426,869 685,977 484,380 Share capital and reserves Called up share capital 93,000 89,000 93,000 Share premium account 701,546 702,547 700,602 Treasury shares reserve (4,000) - (4,000) Foreign exchange reserve (1,010) - (1,010) Profit and loss account (362,667) (105,570) (304,212) Equity shareholders' funds 426,869 685,977 484,380The financial information for the period ended 30 June 2008 has not been audited and does not constitute statutory accounts within the meaning of Section 240 of the Companies Act 1985. The Directors of Yellow Cat Uranium plc accept responsibility for this announcement. 18.09.2008 Financial News transmitted by DGAP ----------------------------------------------------------------------
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