Open main menu
Home
Random
Donate
Recent changes
Special pages
Community portal
Preferences
About Stockhub
Disclaimers
Search
User menu
Talk
Contributions
Create account
Log in
Editing
Pantheon Resources Plc
(section)
Warning:
You are not logged in. Your IP address will be publicly visible if you make any edits. If you
log in
or
create an account
, your edits will be attributed to your username, along with other benefits.
Anti-spam check. Do
not
fill this in!
== Financials == === Most recent === After the interim results' period end, the company raised approximately $22 million, net of fees, on 16th May 2023.<ref>https://polaris.brighterir.com/public/pantheon_resources/news/rns/story/w03k7zw</ref> On 15th June 2023, to address its obligations for the senior unsecured convertible bonds due 2026, the company settled a quarterly principal of US$2.45 million and interest of US$367,500 by issuing 15,172,320 new Ordinary Shares. This arrangement reduces the Convertible Bond's outstanding principal to US$34.30 million.<ref>https://polaris.brighterir.com/public/pantheon_resources/news/rns/story/x5zjy8x</ref> On 7th September 2023, Pantheon Resources plc announced a private placement of 11.9 million new shares at £0.1878 each, raising $2.793 million from IPGL Limited. The amount will be used to cover a bond repayment, making the placement cash-neutral for Pantheon. The new shares, constituting 1.3% of the pre-placement share capital, will be issued around 29 September 2023.<ref name=":12">https://www.investegate.co.uk/announcement/rns/pantheon-resources--panr/private-placement/7740310</ref> Accordingly, since the company's interim results, the company has raised raise a total of $27.243 million. === Interim results === ==== Profit and loss ==== {| class="wikitable" |+Profit and loss ! !2021<ref name=":11">https://polaris.brighterir.com/public/pantheon_resources/news/rns/story/xp8nljr</ref> !2022<ref name=":11" /> |- |Currency |USD |USD |- | colspan="3" |Continuing operations |- |Revenue | - |455,309 |- |Production royalties | - |(57,101) |- |Facilities commissioning and operations | - |(837,503) |- |Cost of sales | - |(183,296) |- |Gross loss | - |(622,590) |- |Administration expenses |(3,150,888) |(3,699,831) |- |Share Based payment expense |(2,013,966) |(2,935,897) |- |Operating loss |(5,174,854) |(7,258,318) |- |Convertible Bond - Interest Expense |(570,295) |(3,151,102) |- |Convertible Bond - Revaluation of Derivative Liability |(200,531) |7,937,855 |- |Interest receivable |143 |152,492 |- |Loss before taxation |(5,945,537) |(2,319,073) |- |Taxation |1,497,945 |743,097 |- |Loss for the year |(4,447,592) |(1,575,796) |- | colspan="3" |Other comprehensive income for the year |- |Exchange differences from translating foreign operations |844,484 |(97,473) |- |Total comprehensive loss for the year |(3,603,108) |(1,673,449) |- | colspan="3" |Loss per share from continuing operations: |- |Basic and diluted loss per share |(0.66)¢ |(0.21)¢ |} ==== Balance sheet ==== {| class="wikitable" |+Balance sheet ! !2021<ref name=":11" /> !2022<ref name=":11" /> |- |Currency |USD |USD |- | colspan="3" |Assets |- | colspan="3" |Non-current assets |- |Exploration & evaluation assets |195,662,187 |274,321,398 |- |Property, plant and equipment |4,245 |66,199 |- |Total non-current assets |195,666,432 |274,387,597 |- | colspan="3" |Current assets |- |Trade and other receivables |275,315 |2,823,089 |- |Cash and cash equivalents |92,667,269 |16,335,676 |- |Total current assets |92,942,584 |19,158,765 |- |Total assets |288,609,016 |293,546,363 |- | colspan="3" |Liabilities |- | colspan="3" |Current liabilities |- |Convertible Bond – Debt | - |9,929,027 |- |Trade and other payables |1,120,647 |6,336,999 |- |Provisions |1,250,000 |5,282,866 |- |Lease Liabilities |4,702 |60,007 |- |Other Liabilities | - | - |- |Deferred tax liability |2,207,792 |940,306 |- |Total current liabilities |4,583,141 |22,549,205 |- | colspan="3" |Non-current liabilities |- |Lease Liabilities | - |2,956 |- |Convertible Bond – Debt |39,734,584 |19,228,219 |- |Convertible Bond – Derivative |16,023,781 |3,587,629 |- |Total non-current liabilities |55,758,365 |22,818,804 |- |Total liabilities |60,341,506 |45,368,009 |- |Net assets |228,267,510 |248,178,354 |- | colspan="3" |Equity |- | colspan="3" |Capital and reserves |- |Share capital |10,418,381 |10,848,761 |- |Share premium |249,429,603 |272,264,411 |- |Retained losses |(40,778,990) |(49,647,328) |- |Currency reserve |2,079,046 |395,605 |- |Share based payment reserve |7,119,470 |14,316,906 |- |Shareholders’ equity |228,267,510 |248,178,354 |} ==== Cash flow ==== ccc {| class="wikitable" |+Cash flow !Year !2021<ref name=":11" /> !2022<ref name=":11" /> |- |Currency |USD |USD |- |Net outflow from operating activities |(2,446,588) |(6,722,549) |- | colspan="3" |Cash flows from investing activities |- |Interest received |143 |152,492 |- |Funds used for drilling, exploration and leases |(6,707,468) |(36,601,678) |- |Advance for Performance Bond | - | - |- |Interest paid |(7,961) | - |- |Property, plant and equipment | - |(3,033) |- |Net cash outflow from investing activities |(6,715,286) |(36,452,218) |- | colspan="3" |Cash flows from financing activities |- |Proceeds from share issues |42,140,595 |1,756,018 |- |Issue costs paid in cash |(946,710) | - |- |Proceeds from Convertible Bond |55,000,000 | - |- |Repayment of borrowing and leasing liabilities |(28,218) |(29,696) |- |Net cash inflow from financing activities |96,165,667 |1,726,323 |- |Increase in cash & cash equivalents |87,003,793 |(41,448,445) |- |Cash and cash equivalents at the beginning of the year |5,663,476 |57,784,121 |- |Cash and cash equivalents at the end of the year |92,667,269 |16,335,677 |} === Full-year results === ==== Profit and loss ==== {| class="wikitable" |+Profit and loss !Year !2018<ref name=":6">https://www.pantheonresources.com/investors/financial-reports/648-pantheon-resources-annual-report-and-financial-statements-year-ended-30-june-2019/file</ref> !2019<ref name=":7">https://www.pantheonresources.com/investors/financial-reports/654-final-results-for-the-year-ended-june-2020/file</ref> !2020 (restated)<ref name=":8">https://www.pantheonresources.com/investors/financial-reports/660-final-results-for-the-year-ended-30-june-2020/file</ref> !2021<ref name=":3" /> !2022<ref name=":3" /> |- |Currency |USD |USD |USD |USD |USD |- |Year since incorporation |13 |14 |15 |16 |17 |- | colspan="6" |Continuing operations |- |Revenue |1,009,570 |724,589 |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Production royalties |(244,783) |(205,458) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Depletion of developed oil & gas assets |(88,293) |(148,485) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Cost of sales |(562,986) |(737,208) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Gross profit/(loss) |113,508 |(366,562) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Administration expenses |(1,922,917) |(3,438,239) |(3,667,635) |(5,034,361) |(7,430,653) |- |General & Administrative expenses – Vision |<nowiki>-</nowiki> |(1,744,730) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Impairment of exploration & evaluation assets |(6,805,537) |(34,138,156) |(130,112) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Share Based payments expense |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |(3,211,038) |(8,256,575) |- |Impairment of developed oil & gas assets |<nowiki>-</nowiki> |(13,092,684) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Impairment of property plant and equipment |<nowiki>-</nowiki> |(1,397,950) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Impairment of Goodwill |<nowiki>-</nowiki> |(796,236) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Depreciation of production & pipeline facilities |(145,516) |(275,665) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Operating loss |(8,760,462) |(55,250,222) |(3,797,747) |(8,245,400) |(15,687,228) |- |Convertible Bond - Interest Expense |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |(4,640,537) |- |Convertible Bond - Revaluation of Derivative Liability |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |4,310,773 |- |Gain on bargain purchase |<nowiki>-</nowiki> |100,757,286 |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Less: deferred tax thereon |<nowiki>-</nowiki> |(28,783,396) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Interest receivable |6,858 |25,781 |23,759 |4,234 |42,674 |- |Loss before taxation |(8,753,604) |16,749,449 |(3,773,988) |(8,241,165) |(15,974,318) |- |Taxation |<nowiki>-</nowiki> |18,757,633 |965,681 |1,573,094 |2,022,334 |- |Loss for the year from Continuing Operations after Taxation |<nowiki>-</nowiki> |<nowiki>-</nowiki> |(2,808,307) |(6,668,071) |(13,951,984) |- |Loss for the year from discontinued operations |<nowiki>-</nowiki> |<nowiki>-</nowiki> |(14,170,288) |(54,415) |<nowiki>-</nowiki> |- |Loss for the year |(8,753,604) |35,507,082 |(16,978,595) |(6,722,487) |(13,951,984) |- |Other comprehensive income for the year Exchange differences from translating foreign operations |277,183 |(179,284) |(47,800) |1,503,199 |(741,484) |- |Total comprehensive loss for the year |(8,476,421) |35,327,798 |(17,026,395) |(5,219,288) |(14,693,468) |- | colspan="6" |Loss per share from continuing operations: |- |Basic and diluted loss per share |(3.72)¢ |10.54¢ |(0.56)¢ |(1.17)¢ |(1.93)¢ |- | colspan="6" |Loss per share from discontinued operations: |- |Basic and diluted loss per share |<nowiki>-</nowiki> |<nowiki>-</nowiki> |(2.83)¢ |(0.01)¢ |<nowiki>-</nowiki> |} ==== Balance sheet ==== {| class="wikitable" |+Balance sheet ! !2018<ref name=":6" /> !2019<ref name=":7" /> !2020<ref name=":8" /> !2021<ref name=":3" /> !2022<ref name=":3" /> |- |Currency |USD |USD |USD |USD |USD |- |Year since incorporation |13 |14 |15 |16 |17 |- | colspan="6" |Assets |- | colspan="6" |Non-current assets |- |Exploration & evaluation assets |43,498,422 |160,887,260 |156,097,609 |188,954,719 |237,722,294 |- |Developed oil & gas assets |13,736,007 |6,961,445 |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Property, plant and equipment |2,237,698 |2,494,464 |658,898 |30,308 |91,691 |- |Total non-current assets |59,472,127 |170,343,169 |156,756,507 |188,985,027 |237,813,985 |- | colspan="6" |Current assets |- |Trade and other receivables |700,939 |1,843,649 |74,167 |109,876 |2,498,447 |- |Cash and cash equivalents |3,399,290 |1,853,986 |4,802,965 |5,663,477 |57,784,121 |- |Total current assets |4,100,229 |3,697,635 |4,877,132 |5,773,353 |60,282,568 |- |Total assets |63,572,356 |174,040,804 |161,633,639 |194,758,380 |298,096,553 |- | colspan="6" |Liabilities |- | colspan="6" |Current liabilities |- |Convertible Bond – Debt |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |10,001,704 |- |Trade and other payables |316,976 |1,410,347 |388,092 |1,107,090 |6,377,986 |- |Provisions |<nowiki>-</nowiki> |1,335,863 |1,335,863 |1,250,000 |5,285,440 |- |Lease Liabilities |<nowiki>-</nowiki> |<nowiki>-</nowiki> |46,311 |32,788 |60,297 |- |Other Liabilities |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |1,964,441 |- |Deferred tax liability |<nowiki>-</nowiki> |10,025,763 |5,293,296 |3,705,737 |1,683,403 |- |Total current liabilities |316,976 |12,771,973 |7,063,562 |6,095,615 |25,373,271 |- | colspan="6" |Non-current liabilities |- |Lease Liabilities |<nowiki>-</nowiki> |<nowiki>-</nowiki> |27,914 |<nowiki>-</nowiki> |30,004 |- |Convertible Bond – Debt |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |20,474,664 |- |Convertible Bond – Derivative |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |12,816,226 |- |Total non-current liabilities |<nowiki>-</nowiki> |<nowiki>-</nowiki> |27,914 |<nowiki>-</nowiki> |33,320,894 |- |Total liabilities |316,976 |12,771,973 |7,091,476 |6,095,615 |58,694,166 |- |Net assets |63,255,380 |161,268,831 |154,542,163 |188,662,765 |239,402,388 |- | colspan="6" |Equity |- | colspan="6" |Capital and reserves |- |Share capital |3,852,673 |7,966,075 |8,568,721 |9,739,203 |10,720,459 |- |Share premium |106,678,805 |164,044,720 |173,687,092 |208,683,936 |264,879,196 |- |Retained losses |(48,137,398) |(12,630,316) |(29,608,911) |(36,331,398) |(48,466,591) |- |Currency reserve |(41,554) |(220,838) |(268,637) |1,234,562 |493,078 |- |Share based payment reserve |902,854 |2,163,898 |2,163,898 |5,336,462 |11,776,246 |- |Non controlling interests |<nowiki>-</nowiki> |(54,708) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Shareholders’ equity |63,255,380 |161,268,831 |154,542,163 |188,662,765 |239,402,388 |} ==== Cash flow ==== {| class="wikitable" |+Cash flow !Year !2018<ref name=":6" /> !2019<ref name=":7" /> !2020<ref name=":8" /> !2021<ref name=":3" /> !2022<ref name=":3" /> |- |Currency |USD |USD |USD |USD |USD |- |Year since incorporation |13 |14 |15 |16 |17 |- |Net outflow from operating activities |(2,082,803) |(5,513,085) |(5,707,802) |(3,098,495) |(941,506) |- | colspan="6" |Cash flows from investing activities |- |Interest received |6,858 |25,781 |25,881 |4,295 |42,674 |- |Funds used for drilling, exploration and leases |(10,679,594) |(10,579,750) |(1,591,591) |(24,973,399) |(45,267,175) |- |Developed oil & gas assets |(495,183) |(523,934) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Decommissioning Provision (Exploration & Evaluation) |<nowiki>-</nowiki> |676,464 |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Decommissioning Provision (Developed Oil & Gas Assets) |<nowiki>-</nowiki> |409,400 |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Advance for Performance Bond |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |(2,400,000) |- |Property, plant and equipment |208,682 |(312,637) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |(3,368) |- |Acquisition of a subsidiary (Great Bear), net of cash acquired |<nowiki>-</nowiki> |(6,098,215) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Acquisition of a subsidiary, (Vision Resources LLC) net of cash acquired |<nowiki>-</nowiki> |1,920 |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Disposal |<nowiki>-</nowiki> |<nowiki>-</nowiki> |(1,134) |<nowiki>-</nowiki> |<nowiki>-</nowiki> |- |Net cash outflow from investing activities |(10,959,237) |(16,400,971) |(1,566,844) |(24,969,105) |(47,627,869) |- | colspan="6" |Cash flows from financing activities |- |Proceeds from share issues |12,596,484 |21,259,057 |10,816,383 |30,181,084 |46,739,796 |- |Issue costs paid in cash |(537,360) |(890,304) |(571,364) |(1,197,275) |(994,694) |- |Proceeds from Convertible Bond |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |<nowiki>-</nowiki> |55,000,000 |- |Repayment of borrowing and leasing liabilities |<nowiki>-</nowiki> |<nowiki>-</nowiki> |(21,394) |(55,698) |(55,083) |- |Net cash inflow from financing activities |12,059,124 |20,368,753 |10,223,625 |28,928,111 |100,690,020 |- |Increase in cash & cash equivalents |(982,916) |(1,545,304) |2,948,979 |860,511 |52,120,645 |- |Cash and cash equivalents at the beginning of the year |4,382,206 |3,399,290 |1,853,986 |4,802,965 |5,663,476 |- |Cash and cash equivalents at the end of the year |3,399,290 |1,853,986 |4,802,965 |5,663,476 |57,784,121 |}
Summary:
Please note that all contributions to Stockhub may be edited, altered, or removed by other contributors. If you do not want your writing to be edited mercilessly, then do not submit it here.
You are also promising us that you wrote this yourself, or copied it from a public domain or similar free resource (see
Stockhub:Copyrights
for details).
Do not submit copyrighted work without permission!
Cancel
Editing help
(opens in new window)