West African Minerals Corporation, formerly known as Emerging Metals Limited, announced unaudited Consolidated Financial Statement for the six months period ended 30 September 2014.
For this period, BVI company’s total assets were £27.76 million, as compared to £28.36 million in the same period of 2013. Company’s cash was £5.35 million (£7.1 million in 2013). The company reported loss per share (basic and diluted) at 0.019 pence, as compared to 2.21 pence in 2013. Also, according to company’s financial highlights, operational expenses decreased by 30.2 per cent, from £0.97 million in the previous year to £0.68 million in 2014.
British Virgin Islands-registered marine survey group Thalassa Holdings reported sales delays but announced that 2014 guidance on its performance is kept unchanged. The company said that the 23rd oil and gas exploration licensing round in the Norwegian Sea had not yet concluded, and is now expected to be concluded in 2015.
Thalassa Holdings said it now expected potential data sales from several clients relating to that round to take place in 2015.
According to company’s announcement, “The outlook for 2015 remains uncertain, due to both economic sanctions and export restrictions against Russia and continued pressure on the price of oil.
However, “The company continues to have a strong balance sheet with current net free cash of approximately $15m.”