DJ IMC Exploration Group Plc Final Results

TIDMIMCP

IMC Exploration Group Plc

Audited Results for the 12 Months to 30 June 2015

The directors of IMC Exploration Group plc are pleased to present the Financial
Results for ('IMC') for the twelve months to 30th June 2015.

Chairman's Statement

Further to our announcement in March 2015, in which we signed an agreement with
Koza Limited, a subsidiary of Koza Altin Isletmeleri A.S., we have recently
signed the final Joint Venture agreement on IMC's precious metal exploration
licences in Wicklow and Wexford whereby Koza will fully fund the works
programme on these licence areas with investment of EUR3.4 million for a 75%
interest in these licences.

It is agreed Koza will fully fund the works programme on these licence areas
with investment of EUR3.4 million for a 75% interest in these licences. The JV
agreement was approved by the Minister for Communications, Minerals and Natural
Resources and formally signed by both parties.

Koza is the leading Turkish international mining company with 4 operating
mines. In 2014 they produced 317 thousand oz of gold and have gold reserves of
4.2 million ounces. Koza Gold is capable of carrying out all processes from
the stage of exploration to production.

In tandem with the Koza / IMC precious metal programme, IMC itself is committed
to a works programme on the 10 base metal licence areas and is currently in
discussions with interested parties to progress this.

Furthermore, in order to fulfil its stock market potential, IMC is seeking a
standard listing on the main market of the London Stock Exchange. Advisors,
Keith Bayley Rogers have already commenced this process and have indicated this
can be achieved within the final quarter of 2015. The London Stock Exchange is
one of the world's foremost markets for admission and trading of equity and
includes many of the world's most successful and dynamic companies.

The commencement of the works programme on our precious metal licences and the
advancement of our base metal licences will ensure a regular, continuous,
positive news flow.

We look forward to the coming weeks and months with enthusiasm for the
exploration and corporate developments within the company.

Liam McGrattan

Chairman

Consolidated Statement of Comprehensive Income

for the year ended 30th June 2015

Continuing Operations

Notes 2015 2014

EUR EUR

Administrative expenses (221,084) (122,954)

Operating Loss for the period (221,084) (122,954)

Finance Income - 1,017

Loss on sale of investment (135,164) -

Amount written off investment (83,400) (106,593)

Loss for period before tax (439,648) (228,530)

Income tax expenses (1,093) 5,408

Total comprehensive loss for the period (440,741) (223,122)

Loss attributable to:

Equity holders of the Company (440,741) (223,122)

Total Comprehensive Loss attributable to:

Equity holders of the Company (440,741) (223,122)

Earnings per share

From continuing operations

Basic and Diluted loss per share (cent) 2 0.01 0.01

All activities derived from continuing operations. All losses and total
comprehensive losses for the period are attributable to the owners of the
Company.

The Company has no recognised gains or losses other than those dealt with in
the statement of comprehensive income.

Consolidated Statement of Changes in Equity

for the year ended 30th June 2015

Share Share Retained

Capital Premium Losses Total

EUR EUR EUR EUR

Balance at 30 June 2013 91,402 1,308,102 (744,086) 655,418

Total comprehensive income for the
period

Loss for the period - - (223,122) (223,122)

Total comprehensive income for the - - (223,122) (223,122)
period

Transactions with owners, recorded
contributions by and distributions to
owners directly in equity

Shares issued 16,000 368,675 - 384,675

Share issue costs - - - -

Total transactions with owners - - - -

Balance at 30 June 2014 107,402 1,676,777 (967,208) 816,971

Total comprehensive income for the
period

Loss for the period - - (440,741) (440,741)

Total comprehensive income for the - - (440,741) (440,741)
period

Transactions with owners, recorded
directly in equity contributions by
and distributions to owners

Shares issued 5,008 62,992 - 68,000

Share issue costs - - - -

Balance at 30 June 2015 112,410 1,739,769 (1,407,949) 444,230

Net equity is attributable to the holder of the ordinary shares in the Group.

Consolidated Statement of Financial Position

for the year ended 30th June 2015

Notes 2015 2014

EUR EUR

Assets

Intangible assets 524,724 524,724

Property, plant and equipment 1,465 2,690

Investments - 281,818

Total Non-Current Assets 526,189 809,232

Current Assets

Trade and other receivables 111,671 111,403

Cash and cash equivalents (26,685) (32,304)

Total Current Assets 84,986 79,099

Total Assets 611,175 888,331

Equity

Share Capital 3 112,410 107,402

Share premium 3 1,739,769 1,676,777

Retained deficit (1,407,949) (967,208)

Attributable to owners of the Company 444,230 816,971

Total Equity 444,230 816,971

Liabilities - Current

Trade and other payables 155,954 61,462

Current tax liabilities 10,991 9,898

Total Liabilities 166,945 71,360

Total Equity and Liabilities 611,175 888,331

Consolidated Statement of Cash Flows

for the year ended 30th June 2015

2015 2014

Cash flows from operating activities

Loss for the year (222,177) (117,546)

Adjustments for:

Income tax expense recognised in profit and loss 1,093 (5,408)

Depreciation 1,225 1,225

Cash from operations before changes in working (219,859) (121,729)
capital

Movement in trade and other receivables (268) 42,630

Movement in trade and other payables 94,492 (7,213)

Net cash flow from operating activities (125,635) (86,312)

Cash flows from investing activities

Interest received - 1,017

Proceeds from sale of investments 63,254 -

Taxation - -

Acquisitions and disposals - -

Net cash (used in) investing activities 63,254 1,017

Cash flows from financing activities

Proceeds from the issue of new shares 68,000 -

Finance income/(expense) - -

Net cash generated by financing activities 68,000 1,017

Movement in cash and cash equivalents 5,619 (85,295)

Cash and cash equivalents at beginning of year (32,304) 52,991

Cash and cash equivalents at end of year (26,685) (32,304)

Accounting Policies

Basis of Preparation

The financial statements have been prepared on a historical cost basis.

The financial statements are presented in Euro.

Statement of Compliance

As permitted by the European Union, the Group financial statements have been
prepared in accordance with International Financial Reporting Standards
(IFRS's) and their interpretations issued by the International Accounting
 
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Standards Board (IASB) as adopted by the EU (IFRS). The individual financial
statements of the Company ("Company financial statements") have been prepared
in accordance with the IFRS's as adopted by the EU and as applied in accordance
with the Companies Acts, 1963 to 2014 which permits a company that publishes
its Company and Group financial statements together, to take advantage of the
exemption in Section 148(8) of the Companies Act, 1963, from presenting to its
members its Company Statement of Comprehensive Income and related notes that
form part of the approved Company financial statements.

The IFRS's adopted by the EU as applied by the Company and the Group in the
preparation of these financial statements are those that were effective on or
before 30 June 2015.

2. Loss per share

Basic earnings per share

The basic and weighted average number of ordinary shares used in the
calculation of basic earnings per share are as follows:

2015 2014

EUR EUR

Loss for the period attributable to equity holders of the (440,741) (223,122)
parent

Number of ordinary shares in issue - start of year 69,308,507 53,308,507

Effect of shares issued during the year 5,008,212 16,000,000

Weighted average number of ordinary shares for the 74,316,719 69,308,507
purposes of basic earnings per share

Basic Loss per ordinary share (cent) (0.01) (0.01)

3. Share capital

2015 2014

EUR EUR

Authorised equity

200,000,000 Ordinary shares of 200,000 200,000
EUR0.001 each

50,000 "A" Ordinary shares of EUR 50,000 50,000
1 each

250,000 250,000

Issued Capital

Ordinary Shares fully paid up Number of shares Share Capital Share Premium

EUR EUR

Balance at 1 July 2013 53,308,507 53,309 1,308,102

Shares Issued for Non-Cash 16,000,000 16,000 368,675

Balance at 30 June 2014 69,308,507 69,309 1,676,777

Balance at 1 July 2014 69,308,507 69,309 1,676,777

Shares Issued for Cash 5,008,212 5,008 62,992

Balance at 30 June 2015 74,316,719 74,317 1,739,769

Fully paid ordinary shares which have a par value of EUR0.001 carry one vote and
carry a right to dividends.

A Ordinary Shares Partly Paid Number of shares Share Capital Share Premium

EUR EUR

Balance at 1 July 2014 38,093 38,093 -

Balance 30 June 2015 38,093 38,093 -

Partly paid "A" ordinary shares which have a par value of EUR1 carry no voting
rights or rights to dividends.

Total Shares Share Capital Share Premium

EUR EUR

Total at 1 July 2014 107,402 1,676,777

Shares Issued for Cash 5,008 62,992

Total at 30 June 2015 112,410 1,739,769

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

END
 
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