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DJ IMC Exploration Group Plc Half-year Report

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TIDMIMCP Chairman's Statement
Interim Financial Results
IMC Exploration Group PLC ('IMC') for the six months to 31st December 2016

Dear Shareholder, 
 
The directors of IMC Exploration Group plc are pleased to present the Interim 
Financial Results for ('IMC') for the six months to 31st December 2016. 
 
IMC recently announced the implementation of its works programme on its base 
metal licence area in the highly prospective south west of Ireland.  This 
comprehensive exploration programme consists of geochemistry, geophysics and 
drilling. 
 
Since the opening of the Tynagh mine in Co. Galway, Ireland has become a 
significant producer of base metals, ranking third in Europe and fourteenth in 
the world for zinc.  IMC holds licences close to the Tynagh mine.  This is a 
very exciting time for IMC with its zinc properties.  Zinc has tight supply 
fundamentals due to falling production, subdued discovery and increasing 
demand. The zinc price doubled in 2016. 
 
IMC in conjunction with its joint venture partner, Koza Limited, has carried 
out an extensive target generation, mapping and rock sampling programme on its 
gold mine river licence PL 3857 in Co. Wicklow and licence PL 2551 in Co. 
Wexford.  This work is in addition to the previous drilling programme and is 
part of the works programme for our five precious metal licence areas.  This is 
preparatory work for the next phase of our fully funded drilling programme. 
The Geological Survey of Ireland's (GSI) Tellus survey confirms high levels of 
gold in the streams near the Goldmines River and Avoca regions of Wicklow. 
These areas are included in our JV licences areas. 
 
IMC continues to make progress on all its activities: implementing its base 
metal works programme in South West Ireland, as well as continuing progress on 
our licence areas in Wicklow and Wexford under the IMC/Koza joint venture 
agreement. 
 
Liam McGrattan 
 
Chairman 
 
Unaudited Consolidated Statement of Comprehensive Income for the period ended 
31 December 2016 
 
                                                                               Six Months   Six Months             Year Ended 
 
                                                                  Notes         31-Dec-16    31-Dec-15              30-Jun-16 
 
                                                                                                  Euro                   Euro 
 
Continuing Operations 
 
Revenue                                                                                 -            -                      - 
 
Other Income / (Expense)                                                                0            0                      0 
 
Administrative Expenses                                                          (98,919)    (178,163)              (410,007) 
 
(Loss) before tax                                                                (98,919)    (178,163)              (410,007) 
 
Income tax expense                                                                      0            0                      0 
 
(Loss) for period from continuing operations                                     (98,919)    (178,163)              (410,007) 
 
Other Comprehensive income                                                                           -                      - 
 
Loss for the period and total comprehensive loss for the period                  (98,919)    (178,163)              (410,007) 
 
Earning per share (all continuing) 
 
Loss per ordinary share - basic & diluted                             1           (0.001)      (0.002)                (0.004) 
 
 
 
Unaudited Consolidated Statement of Financial Position As at 31 December 
2016 
 
                                                                               Six Months                Six Months                 Year Ended 
 
                                                                   Notes        31-Dec-16                 31-Dec-15                  30-Jun-16 
 
Non Current Assets                                                     2          587,666                   525,577                    587,666 
 
Current assets 
 
Debtors                                                                            88,688                   111,028                     95,047 
 
Cash and cash equivalents                                                             300                    62,985                     61,742 
 
Total assets                                                                      676,654                   699,590                    744,454 
 
Equity and liabilities 
 
Equity 
 
"A" Ordinary Share Capital                                                         38,093                    38,093                     38,093 
 
Ordinary Share Capital                                                            107,817                    97,817                    107,817 
 
Share Premium - Ord Shares                                                      2,237,415                 1,987,221                  2,237,415 
 
Retained Earnings                                                             (1,916,874)               (1,586,112)                (1,817,956) 
 
Equity attributable to the owners of the Company                                  466,451                   537,020                    565,369 
 
Current Liabilities 
 
Trade & Other Payables                                                            210,203                   162,570                    179,085 
 
Total liabilities                                                                 210,203                   162,570                    179,085 
 
Total equity and liabilities                                                      676,654                   699,590                    744,454 
 
Unaudited Consolidated Statement of Changes in Equity for the period ended 31 
December 2016 
 
                                                                 "A"                                    Share 
 
                                                            Ordinary       Ordinary                   Premium 
 
                                                               Share          Share                  Ordinary     Retained 
 
                                                             Capital        Capital                    Shares       Losses        Total 
 
                                                                Euro           Euro                      Euro         Euro         Euro 
 
Balance at 30 June 2015                                       38,093         74,317                 1,739,769  (1,407,949)      444,230 
 
Loss for the Period                                                                                              (410,007)    (178,163) 
 
Other Comprehensive loss for the period                                                                                               - 
 
Issue of share capital                                                       33,500                   497,646                   270,952 
 
Share Issue Costs                                                                                                                     - 
 
Balance at 30 June 2016                                       38,093        107,817                 2,237,415  (1,817,956)      565,369 
 
Loss for the Period                                                                                               (98,919)     (98,919) 
 
Other Comprehensive loss for the period                                                                                               - 
 
Issue of share capital                                                                                                                0 
 
Share Issue Costs                                                                                                                     - 
 
Balance at 31 December 2016                                   38,093        107,817                 2,237,415  (1,916,874)      466,451 
 
 
 
 
Accounting Policies 
 
Basis of Preparation 
 
The financial statements have been prepared on a 
historical cost basis. 
 
The financial statements are presented in 
Euro. 
 
1. Statement of Compliance 
 
The Interim financial statements of IMC Exploration Group PLC and its 
subsidiary have not been reviewed by the auditor and have been prepared in 
accordance with International Financial Reporting Standards (IFRS) as adopted 
by the European Union (EU). In addition to complying with its legal obligation 
to comply with IFRS as adopted for use in the EU, the Group has also complied 
with IFRS as issued by the International Accounting Standards Board (IASB). 
 
 
 
 
 
 
Notes to and forming part of the annual financial 
statements 
 
1.   Loss per Share 
 
Basic loss per Ordinary Share amounts are calculated by dividing net loss for 
the period attributable to ordinary equity holders of the parent by the 
weighted average number of Ordinary Shares outstanding during the period. 
 
Basic earnings per share 
 
The weighted average number of ordinary shares used in the calculation of basic 
and diluted earnings per share is as follows: 
 
                                                                      Six Months             Six Months             Year Ended 
 
                                                                       31-Dec-16              31-Dec-15              30-Jun-16 
 
Loss for the period attributable to equity holders of                     98,919                178,163                410,007 
the parent 
 
Weighted average number of ordinary shares for the purposes of basic 107,816,719             97,816,719            107,816,719 
earning per share 
 
Basic (loss) per ordinary share                                          (0.001)                (0.002)                (0.004) 
 
 
 
2.   Non Current Assets 
 
                                                                                 Exploration   Plant and  Financial 
 

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IMC Exploration Group plc was incorporated in Ireland in June 2011 with a view to identifying precious and basemetal deposits in Ireland.


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IMC Exploration Group plc,
70 Ballybough Road,
Ballybough,
Dublin 3, Ireland

Telephone: +353 872819215
Email: info@imcexploration.com

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