Hedgehog100
23 Jul 2016
Positive Final Results Update A positive update from ACO in their final results RNS on Tuesday:19/07/2016 07
0 UKREG Acorn Minerals PLC Final Results" … We have reviewed a number of very promising resource projects however with resources not being in favour in the capital markets it has been difficult to attract the required capital.This sentiment is changing and we are currently carrying out due diligence reviews on several opportunities that the board believes could add significant value to shareholders. …Obviously reviewing projects requires some expenditure but we continue to judiciously manage the company's funds and at the end of the year under review we still have approximately £1.160m cash, no debt and continue to keep administration costs to a minimum so that maximum funds can be dedicated to the review of and potentially investments in suitable projects.Whilst we have not concluded a transaction during the year we are very hopeful of doing so in the near future. This all requires considerable work by your board and on your behalf I thank my fellow directors Charles Goodfellow and Brent Fitzpatrick for their effort and commitment to this cause and I also thank you for your continuing support and look forward to updating you soon on further progress. ..."[link] 10.75p, market cap. is £1.54M.
ken678
23 Jul 2015
Why so coy Brent? Fascinating figures.I was a bit perplexed though as to why Brent Fitzpatrick is so coy about his directorships in the write-up?I can understand why "old" directorships are ignored - indeed I imagine many of them will no longer exist, having been sent untimely to their maker under his stewardship - but surely the current directorship of PowerHouse Enegy (PHE) merits a mention? After all it is no mean feat to get the market cap of a business (which even the company itself now itself admits was worthless) to £65,000,000 is a feat worthy of remark?
