TIDMIMC 
 
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY IMC EXPLORATION 
GROUP PLC TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE 
REGULATION (EU) NO. 596/2014, AS AMED ("MAR"). ON THE PUBLICATION OF THIS 
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE 
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. 
 
          FINAL RESULTS FOR THE YEAR 1ST JULY 2019 TO 30TH JUNE 2020 
 
                 IMC Exploration Group Public Limited Company 
 
            Chairman's Statement for the year ended 30th June 2020 
 
The Directors of IMC Exploration Group plc ("IMC" or the "Company") are pleased 
to present the audited financial results for IMC for the twelve months to 30th 
June 2020.  The consolidated financial statements appearing below (which do not 
form the full statutory Report and Accounts of the Company) are taken from the 
Directors' Report and Financial Statements for the year ended 30th June 2020 
posted to shareholders, a copy of which is available from IMC's website at 
https://www.imcexploration.com/. 
 
During the year the CSA Global commissioned IMC Mineral Resource Estimate 
('MRE') on our Avoca spoils and tailings project located in Co. Wicklow, 
Ireland was published. This JORC-compliant MRE report shows, inter alia, 
significant grades of extracted and crushed gold (1,871,000t at 0.3g/t Au), 
copper (1,871,000t at 0.14% Cu) and lead (1,871,000t at 0.42% Pb) in the spoil 
heaps on the East Avoca section of the site. 
 
This MRE for our spoils and tailings project is significant, with the gold 
estimate alone at circa 20,000oz.  Furthermore, the Company has recently 
identified exploration targets at West Avoca where there is further potential 
to increase this estimate by up to 4,000oz gold within the Avoca area.  This 
additional work has commenced. 
 
IMC is also pleased to report there have been major developments in its North 
Wexford Gold Project which gives us immediate capacity and scope to accelerate 
our exploration programme here.  An initial review of historical exploration on 
the recently acquired PL 1200 in Co. Wexford is progressing, and is part of a 
group of three licences held by IMC that are underlain by the mineralized 
rhyolitic volcanic rocks of South East Leinster. 
 
Some years ago, RioFinEx drilled a gold-in-soil anomaly on PL 1200 and proved 
gold mineralisation hosted by highly altered rocks at a depth of 30m. Groove 
sampling of the drill core proved an intercepted grade of 0.5 g/t Au over 18.6m 
(weighted average over 3 to 3.6m intervals).  Half core sampling of part of the 
groove sampled interval assayed 15m at 0.2 g/t Au (weighted average of 1.5m 
intervals).  Although all the pertinent data is available for examination and 
extrapolation, IMC intends to drill further in this area in order to confirm 
and expand on the data available to the Company in accordance with the JORC 
Code (2012). 
 
This aligns with IMC's strategy of establishing a gold resource on its three 
North Wexford prospecting licences.  The additional licences in Wexford, along 
with the high gold grades already encountered on parts of the adjoining IMC 
licence PL 2551, gives the company the ability to action its exploration and 
geological work in this area. 
 
During the year IMC entered into a collaboration with the Raw Materials 
Research Group at Trinity College Dublin. IMC's Board believes access to this 
world-class micro-analytical facility is a tremendous advantage for IMC and its 
Avoca properties. We are now working with them on petrographic and 
microanalytical work on samples from IMC drill-holes targeting the gold-rich 
Kilmacoo zone. This strategic partnership has the potential significantly to 
enhance the gold resource at Avoca. 
 
Our strategy is clear.  We are focused on upgrading our spoils and tailings 
project at Avoca; gaining maximum advantage from our collaboration with Trinity 
College; and bringing our resources on our North Wexford gold project licence 
area to JORC-compliant standards. 
 
As you are no doubt aware the price of gold has recently reached an all-time 
high of over $2,000 per oz. This, and the exciting developments outlined above, 
represent an unprecedented time for gold and, in turn, your Company. 
 
Eamon O'Brien, 
Chairman 
 
 
 
                 IMC Exploration Group Public Limited Company 
 
Consolidated Statement of Comprehensive Income 
for the year ended 30th June 2020 
 
Continuing 
Operations 
 
 
                                                                    2020 (EUR)   2019 (EUR) 
 
Administrative expenses                                            (251,947)  (366,816) 
 
Operating Loss for the period                                      (251,947)  (366,816) 
 
Finance Income                                                             -          - 
 
Amount written off Intangible Assets 
 
 
Amount written off investment                                              -          - 
 
                                                                  __________ __________ 
 
Loss for period before tax                                         (251,947)  (366,816) 
 
Income tax expenses                                                        -    (2,047) 
 
                                                                   _________  _________ 
 
Total comprehensive loss for the period                            (251,947)  (368,863) 
 
                                                                   =========  ========= 
 
Loss attributable to: 
 
Equity holders of the Company                                      (251,947)  (368,863) 
 
                                                                   =========  ========= 
 
Total Comprehensive Loss attributable to: 
 
Equity holders of the Company                                      (251,947)  (368,863) 
 
                                                                   =========  ========= 
 
Earnings per share 
 
From continuing operations 
 
Basic and Diluted loss per share (EUR cent)                                0.1        0.1 
 
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. 
 
The Financial statements were approved by the Board of Directors on 29th 
October 2020 and signed on its behalf by: 
 
On behalf of the board 
Eamon O'Brien                                                         Andrew 
Laz Fleming 
Director 
 Director 
 
 
 
                 IMC Exploration Group Public Limited Company 
 
Consolidated Statement of Financial Position 
for the year ended 30th June 2020 
 
                                                              2020 (EUR)        2019 (EUR) 
 
Assets 
 
Intangible assets                                              472,487         471,117 
 
Property, plant and equipment                                    1,291           1,723 
 
Investments                                                          -               - 
 
                                                            __________      __________ 
 
Total Non-Current Assets                                       473,778         472,840 
 
                                                            __________      __________ 
 
Current Assets 
 
Trade and other receivables                                    112,864          39,373 
 
Cash and cash equivalents                                     (34,767)        (30,403) 
 
                                                            __________      __________ 
 
Total Current Assets                                            78,097           8,970 
 
                                                            __________      __________ 
 
Total Assets                                                   551,875         481,810 
 
                                                             =========       ========= 
 
Equity 
 
Share Capital                                                  322,839         293,107 
 
Share premium                                                3,925,015       3,645,171 
 
Retained deficit                                           (3,901,126)     (3,649,179) 
 
                                                            __________      __________ 
 
Attributable to owners of the Company                          346,728         289,099 
 
                                                            __________      __________ 
 
Total Equity                                                   346,728         289,099 
 
                                                            __________      __________ 
 
Liabilities - Current 
 
Trade and other payables                                       203,100         190,664 
 
Current tax liabilities                                          2,047           2,047 
 
                                                            __________      __________ 
 
Total Liabilities                                              205,147         192,711 
 
                                                            __________      __________ 
 
Total Equity and Liabilities                                   551,875         481,810 
 
The Financial statements were approved by the Board of Directors on 29th 
October 2020 and signed on its behalf by: 
 
On behalf of the board 
Eamon O'Brien 
Andrew Laz Fleming 
Director 
   Director 
 
 
 
                 IMC Exploration Group Public Limited Company 
 
Consolidated Statement of Changes in Equity 
for the year ended 30th June 2020 
 
                                        Share       Share    Retained     Total 
                                      Capital     Premium      Losses         EUR 
                                            EUR           EUR           EUR 
 
Balance at 30 June 2018               278,107   3,490,942 (3,280,316)   488,733 
 
                                  ___________  __________   _________   _______ 
 
Total comprehensive income for 
the period 
 
Loss for the period                         -           -   (368,863) (368,863) 
 
                                   __________ ___________  __________ _________ 
 
Total comprehensive income for              -               (368,863) (368,863) 
the period 
 
Transactions with owners, 
recorded directly in equity 
 
contributions by and 
distributions to owners 
 
Shares issued                          15,000     165,781           -   180,781 
 
Share issue costs                           -    (11,552)           -  (11,552) 
 
                                   __________ ___________  __________ _________ 
 
Total transactions with owners         15,000     154,229           -   169,229 
 
                                   __________ ___________  __________ _________ 
 
Balance at 30 June 2019               293,107   3,645,171 (3,649,179)   289,099 
 
                                   __________ ___________  __________ _________ 
 
Total comprehensive income for 
the period 
 
Loss for the period                         -           -   (251,947) (251,947) 
 
                                   __________ ___________  __________ _________ 
 
Total comprehensive income for              -               (251,947) (251,947) 
the period 
 
Transactions with owners, 
recorded directly in equity 
 
contributions by and 
distributions to owners 
 
Shares issued                          29,732     296,224           -   325,956 
 
Share issue costs                           -    (16,380)           -  (16,380) 
 
                                   __________ ___________  __________ _________ 
 
Balance at 30 June 2020               322,839   3,925,015 (3,901,126)   346,728 
 
                                   __________ ___________  __________ _________ 
 
Net equity is attributable to the holder of the ordinary shares in the Group. 
 
The financial statements were approved by the board of Directors on 29th 
October 2020 and signed on its behalf by: 
 
On behalf of the board 
Eamon O'Brien                                                    Andrew Laz 
Fleming 
Director                                                               Director 
 
 
 
                 IMC Exploration Group Public Limited Company 
 
                     Consolidated Statement of Cash Flows 
                       for the year ended 30th June 2020 
 
                                                            2020 (EUR)     2019 (EUR) 
 
Cash flows from operating activities 
 
Loss for the year                                          (251,947)    (368,863) 
 
Adjustments for: 
 
Intangible Assets Write Off                                        -            - 
 
Income Tax recognised in profit and loss                           -        2,047 
 
Depreciation                                                     431          431 
 
                                                            ________     ________ 
 
Cash from operations before changes in working             (251,516)    (366,385) 
capital 
 
Movement in trade and other receivables                     (73,490)     (39,373) 
 
Movement in trade and other payables                          12,436      134,859 
 
                                                           _________    _________ 
 
Net cash flow from operating activities                    (312,570)    (270,899) 
 
Cash flows from investing activities 
 
Interest received                                                  -            - 
 
Proceeds from sale of investments                                  -            - 
 
Taxation                                                           -            - 
 
Acquisitions and disposals                                   (1,370)    (141,143) 
 
                                                           _________    _________ 
 
Net cash (used in) investing activities                      (1,370)    (141,143) 
 
                                                           _________    _________ 
 
Cash flows from financing activities 
 
Proceeds from the issue of new shares                        309,576      169,229 
 
Finance income/(expense)                                           -            - 
 
                                                           _________    _________ 
 
Net cash generated by financing activities                   309,576      169,229 
 
                                                           _________    _________ 
 
Movement in cash and cash equivalents                        (4,364)    (242,813) 
 
Cash and cash equivalents at beginning of year              (30,403)      212,410 
 
                                                           _________    _________ 
 
Cash and cash equivalents at end of year                    (34,767)     (30,403) 
 
The financial statements were approved by the Board of Directors on 29th 
October 2020 and signed on its behalf by: 
 
On behalf of the board 
Eamon O'Brien                                                           Andrew 
Laz Fleming 
Director 
Director 
 
The Directors of IMC, after due and careful enquiry, accept responsibility for 
the contents of this announcement. 
 
REGULATORY ANNOUNCEMENT ENDS. 
 
 
 
Contact Details: 
 
Keith, Bayley, Rogers & Co. Limited 
Graham Atthill-Beck: +44 20 7464 4091 / +44 7506 43 41 07 / 
Graham.Atthill-Beck@kbrl.co.uk; blackpearladvisers@gmail.com 
Brinsley Holman: +44 20 7464 4098 / +44 7776 30 22 28 / 
Brinsley.Holman@kbrl.co.uk 
 
IMC Exploration Group plc 
Kathryn Byrne: +353 85 233 6033 
 
 
 
END 
 

(END) Dow Jones Newswires

October 30, 2020 03:00 ET (07:00 GMT)

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