Clontarf Energy plc
("Clontarf" or the
"Company")
Interim Statement for the period
ended 30 June 2024
Clontarf Energy plc (AIM: CLON), the
energy company focused on clean Bolivian Lithium brines, as well as
petroleum in Australia and Africa, announces its unaudited
financial results for the six months ended 30 June 2024:
Industry and Company Highlights
• Bolivia commits
itself to accelerating its battery-grade Lithium exports, with
senior Government personnel changes announced, early contract
negotiations and reform of the Lithium Law.
• The EU is
building a 'Team Europe' approach, passing a Critical Resource
Minerals Act, and deploying circa €4 billion from the Global
Gateway fund.
• Our JV partner
is completing its pilot-plant at a trusted site near Mumbai,
India. Initial testing of samples is encouraging.
• The Bolivian
authorities have verbally agreed to bulk samples, to be collected
and despatched with the assistance of state owned Yacimientos de
Litio Boliviano (YLB) once formal
negotiations are underway.
• Initial
negotiations and due diligence are underway between YLB and 'Stream
1' companies that claim to operate existing Direct Lithium
Extraction (DLE) plants.
• 'Stream 2'
companies, with DLE technology close to production, are expected to
be invited for negotiations shortly. Clontarf has been
assigned to 'Stream 2' and its negotiators are already in
Bolivia.
• Royalty
increases through timely reform of the Lithium Law shows local
communities how they will benefit from the coming Lithium
boom.
• Strong interest
in long-term offtake contracts for reliable, high purity clean
Lithium from brines - at higher than current spot
prices.
Chairman's
Statement
Recent months have witnessed
accelerated work on Clontarf's key projects on several fronts -
though information flow is constrained by regulatory permissions
and commercial sensitivity.
Attitudes and management of Critical
Resource Minerals are being transformed worldwide, as players grasp
the scale and importance of securing adequate supplies of clean
materials. There are inadequate fresh projects to deliver the
anticipated demand.
Offtakers worldwide are now keenly
aware of the need to secure reliable, clean, as well as competitive
materials. It is hard to express how procurement attitudes
have changed since 2000 - prompted by a successful Chinese
industrial policy, which Europe and the USA are now forced to
counter.
We think of Washington and Brussels
as slow-moving behemoths, but the fast adoption and funding of the
USA's Inflation Reduction Act, and the EU Commission's Critical
Resource Minerals Act, shows how fast policy-makers can move when
realisation of vulnerability dawns. The EU Commission has
pulled together a "Team Europe" of explorers, miners, processors
and financiers to deliver some measure of materials
diversity.
The EU Commission's 'dream-team'
focuses on practical steps necessary to reduce dependence on mining
and processing in potentially hostile regions. Included are
financiers, refiners, chemical production experts, state and EU
players, as well as explorers and developers. Operators like
Clontarf are key to achieving these objectives.
Though the EU was initially slow to
react to Chinese, Japanese, and latterly US legislation, the EU is
free of post-imperial baggage, which has proven an awkward legacy
in Latin America. Past US interventions, and the 1832 Monroe
Doctrine cast a long shadow, and independently-minded countries are
sensitive to the appearance of over-dependence on one, albeit large
market. This - together with ready Chinese money and lesser
governance standards - explains the periodic flirtation of many
rival countries with Russia and China.
Clontarf avoids such complications
because its team has worked continuously in different industries in
many parts of Bolivia since 1986. We have become part of the
furniture and can be helpful to different governments as an
objective window on the world. We have dealt fruitfully with
indigenous communities - in the Bolivian highlands and elsewhere -
for decades. This was an important attraction for the EU
institutions, as well as large commercial partners and
offtakers.
Simultaneously, Bolivia has
committed itself to becoming a key supplier to all key
markets. This requires urgent de-bottlenecking of licensing,
clearer legal title, financing arrangements and high-throughput
production of battery-grade Lithium salts. For example,
Clontarf saw how EU Global Gateway funds can provide 20-year money
at circa 3% interest for state-allocated infrastructure projects to
support new operations in fresh regions. This effectively
funds two-thirds of total capex, while meeting EU controls and
respecting Bolivian sovereignty.
Clontarf has sourced the 320 IBCs
(Intermediate Bulk Containers), to ship the bulk samples to
Mumbai.
We originally planned to deploy a
pilot-plant to one or more Bolivian salares during summer
2024. Because of logistics and weather issues, the Bolivian
authorities opted for the operating companies to remain in their
original plant location, until YLB could conduct due diligence
visits.
The Clontarf Energy JV has submitted
a proposed action plan for the coming months and years, subject to
Bolivian rules and laws. We plan to collect samples from at least 2
salares; ideally one of high Lithium grade and one with both
Lithium and Magnesium content. If we collect the samples
during October 2024, they can be trucked to the nearest sea-port
and shipped to our partners' Mumbai plant for January 2025
delivery. Clontarf Energy will meanwhile have completed the
necessary Indian paperwork with our partners.
On arrival at our partners' plant,
the Bolivian bulk samples will be expedited through the production
process. We request a total of 320 tonnes since we plan to
optimize recovery and throughput not just for Lithium, but also for
Magnesium and other economic minerals.
This production process testing of
the bulk samples and, hopefully including a YLB visit may be
completed during February / March 2025.
Assuming positive results, we
propose agreement negotiations as soon as appropriate.
Clontarf Energy is hoping to deploy
a pilot plant (at a scale of 500 tonnes / year) to a Bolivian site
for arrival by mid-2025 (i.e. 6 to 7 months after arrival of the
bulk samples at the Indian plant), after which it will be promptly
commissioned, connected to power and brine sources, under
applicable laws and start work.
Longer-term, Clontarf Energy plans
to deploy an additional production plant to a total of 5 separate
salares, adding a new plant every 6 months. Our plant size
will accord with any restrictions under law, initially at a scale
of 500 tonnes / year.
But our long-term aim is to produce
150,000 tonnes of LCE by 2030.
Funding
Subject to technical verification of
its exploration projects, and permitting, Clontarf is confident of
sourcing adequate funding, whether in London or Australia, for near
to medium term ongoing activities.
We seek to minimise political and
geological risks.
Projected offtaker demand for clean high-purity Lithium cannot be
met without Bolivian supplies. Fortune favours the
brave. The immediate future seems bright.
David Horgan
Chairman
13
September 2024
This announcement contains inside
information for the purposes of Article 7 of Regulation (EU)
596/2014.
ENDS
For
further information please visit http://clontarfenergy.com
or
contact:
Clontarf Energy
David Horgan, Chairman
Jim Finn, Director
|
+353 (0)
1 833 2833
|
|
|
Nominated & Financial Adviser
Strand Hanson Limited
Rory Murphy
Ritchie Balmer
David Asquith
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+44 (0)
20 7409 3494
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Broker
Novum Securities Limited
Colin Rowbury
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+44 (0)
207 399 9400
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Public Relations
BlytheRay
Megan Ray
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+44 (0)
207 138 3206
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Teneo
Luke Hogg
Alan Tyrrell
Fia Long
Alan Reynolds
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+353 (0)
1 661 4055
|
CONDENSED CONSOLIDATED
STATEMENT OF COMPREHENSIVE INCOME
|
|
|
|
Six Months
Ended
|
Year Ended
|
|
30 June 24
|
30 June 23
|
31 Dec 23
|
|
unaudited
|
unaudited
|
audited
|
|
£'000
|
£'000
|
£'000
|
|
|
|
|
Administrative expenses
|
(334)
|
(288)
|
(696)
|
Impairment of exploration and
evaluation assets
|
(69)
|
-
|
(174)
|
|
|
|
|
LOSS BEFORE TAXATION
|
(403)
|
(288)
|
(870)
|
|
|
|
|
Income Tax
|
-
|
-
|
-
|
|
|
|
|
COMPREHENSIVE INCOME FOR THE PERIOD
|
(403)
|
(288)
|
(870)
|
|
|
|
|
LOSS PER SHARE - basic and diluted
|
(0.01p)
|
(0.01p)
|
(0.02p)
|
|
|
|
|
CONDENSED CONSOLIDATED
BALANCE SHEET
|
30 June
24
|
30 June
23
|
31 Dec
23
|
|
unaudited
|
unaudited
|
audited
|
|
£'000
|
£'000
|
£'000
|
ASSETS:
|
|
|
|
NON-CURRENT ASSETS
|
|
|
|
Intangible assets
|
625
|
868
|
694
|
Investment in Joint
Venture
|
888
|
888
|
888
|
|
1,513
|
1,756
|
1,582
|
|
|
|
|
CURRENT ASSETS
|
|
|
|
Other receivables
|
-
|
-
|
-
|
Cash and cash equivalents
|
601
|
381
|
182
|
|
601
|
381
|
182
|
|
|
|
|
TOTAL ASSETS
|
2,114
|
2,137
|
1,764
|
|
|
|
|
LIABILITIES:
|
|
|
|
CURRENT LIABILITIES
|
|
|
|
Trade and other
liabilities
|
(1,439)
|
(1,512)
|
(1,460)
|
|
(1,439)
|
(1,512)
|
(1,460)
|
|
|
|
|
TOTAL LIABILITIES
|
(1,439)
|
(1,512)
|
(1,460)
|
NET
ASSETS
|
675
|
625
|
304
|
|
|
|
|
|
|
|
|
EQUITY
|
|
|
|
Called-up share capital
|
6,409
|
6,209
|
6,209
|
Share premium
|
13,195
|
12,737
|
12,737
|
Share based payment
reserve
|
731
|
354
|
615
|
Retained deficit
|
(19,660)
|
(18,675)
|
(19,257)
|
TOTAL EQUITY
|
675
|
625
|
304
|
|
|
|
|
CONDENSED CONSOLIDATED
STATEMENT OF CHANGES IN EQUITY
|
|
|
|
|
|
|
|
|
|
Called-up
|
|
Share
based
|
|
|
|
Share
|
Share
|
Payment
|
Retained
|
|
|
Capital
|
Premium
|
Reserves
|
Deficit
|
Total
|
|
£'000
|
£'000
|
£'000
|
£'000
|
£'000
|
As
at 1 January 2023
|
5,927
|
10,985
|
248
|
(18,387)
|
(1,227)
|
Shares issued
|
282
|
1,849
|
|
|
2,131
|
Share issue expenses
|
-
|
(97)
|
-
|
-
|
(97)
|
Share based payment
charge
|
-
|
-
|
106
|
-
|
106
|
Total comprehensive
income
|
|
|
|
(288)
|
(288)
|
As
at 30 June 2023
|
6,209
|
12,737
|
354
|
(18,675)
|
625
|
|
|
|
|
|
|
Share based payment
charge
|
-
|
-
|
261
|
-
|
261
|
Total comprehensive
income
|
|
|
-
|
(582)
|
(582)
|
As
at 31 December 2023
|
6,209
|
12,737
|
615
|
(19,257)
|
304
|
|
|
|
|
|
|
Shares issued
|
200
|
500
|
|
|
700
|
Share issue expenses
|
-
|
(42)
|
-
|
-
|
(42)
|
Share based payment
charge
|
-
|
-
|
116
|
-
|
116
|
Total comprehensive
income
|
-
|
-
|
-
|
(403)
|
(403)
|
As
at 30 June 2024
|
6,409
|
13,195
|
731
|
(19,660)
|
675
|
|
|
|
|
|
|
|
|
|
CONDENSED CONSOLIDATED CASH
FLOW
|
Six Months
Ended
|
Year
Ended
|
|
30 June
24
|
30 June
23
|
31 Dec
23
|
|
unaudited
|
unaudited
|
audited
|
|
£'000
|
£'000
|
£'000
|
CASH FLOW USED IN OPERATING ACTIVITIES
|
|
|
|
Loss for the period
|
(403)
|
(288)
|
(870)
|
Impairment of exploration and
evaluation assets
|
69
|
-
|
174
|
Share based payment
charge
|
116
|
106
|
367
|
Exchange movements
|
1
|
2
|
(8)
|
|
(217)
|
(180)
|
(337)
|
|
|
|
|
Decrease in trade and other
payables
|
(21)
|
(1,516)
|
(1,568)
|
CASH USED BY OPERATIONS
|
(238)
|
(1,696)
|
(1,905)
|
|
|
|
|
NET
CASH USED IN OPERATING ACTIVITIES
|
(238)
|
(1,696)
|
(1,905)
|
|
|
|
|
CASH FLOWS USED IN INVESTING ACTIVITIES
|
|
|
|
Payments for intangible
assets
|
-
|
(406)
|
(406)
|
NET
CASH USED IN INVESTING ACTIVITIES
|
-
|
(406)
|
(406)
|
|
|
|
|
CASH FLOW FROM FINANCING ACTIVITIES
|
|
|
|
Issue of shares
|
700
|
1,650
|
1,650
|
Share issue expenses
|
(42)
|
(97)
|
(97)
|
NET
CASH GENERATED FROM FINANCING ACTIVITIES
|
658
|
1,553
|
1,553
|
|
|
|
|
NET
INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS
|
420
|
(549)
|
(758)
|
|
|
|
|
Cash and cash equivalents at
beginning of the period
|
182
|
932
|
932
|
Exchange variance on cash and cash
equivalents
|
(1)
|
(2)
|
8
|
CASH AND CASH EQUIVALENT AT THE END OF THE
PERIOD
|
601
|
381
|
182
|
Notes:
1. INFORMATION
The financial information for the
six months ended 30 June 2024 and the comparative amounts for the
six months ended 30 June 2023 are unaudited. The financial
information above does not constitute full statutory accounts
within the meaning of section 434 of the Companies Act
2006.
The Interim Financial Report has
been prepared in accordance with IAS 34 Interim Financial Reporting
as adopted by the U.K. The accounting policies and methods of
computation used in the preparation of the Interim Financial Report
are consistent with those used in the Group 2023 Annual Report,
which is available at www.clontarfenergy.com
The interim financial statements
have not been audited or reviewed by the auditors of the Group
pursuant to the Auditing Practices board guidance on Review of
Interim Financial Information.
2. DIVIDEND
No dividend is proposed in respect of the
period.
3. GOING CONCERN
The Group incurred a loss for the
period of £403,233 (2023: loss of £870,061) and had net current
liabilities of £837,583 (2023: £1,277,374) at the balance sheet
date. These conditions, as well as those noted below, represent a
material uncertainty that may cast doubt on the Group's ability to
continue as a going concern. Included in current liabilities is an
amount of £910,082 (2023: £988,926) owed to directors in respect of
directors' remuneration due at the balance sheet date.
The Group had a cash balance of
£600,757 (2023: £182,516) at the balance sheet date. The directors
have prepared cashflow projections for a period of at least 12
months from the date of approval of the financial statements which
indicate that the group may require additional finance to fund
working capital requirements and develop existing projects. As the
Group is not revenue or cash generating it relies on raising
capital from the public market.
As in previous years the Directors
have given careful consideration to the appropriateness of the
going concern basis in the preparation of the financial statements
and believe the going concern basis is appropriate for these
financial statements. The financial statements do not include the
adjustments that would result if the Group and Company were unable
to continue as a going concern
4. LOSS PER SHARE
Basic loss per share is computed by
dividing the loss after taxation for the year attributable to
ordinary shareholders by the weighted average number of ordinary
shares in issue and ranking for dividend during the year. Diluted
earnings per share is computed by dividing the loss after taxation
for the year by the weighted average number of ordinary shares in
issue, adjusted for the effect of all dilutive potential ordinary
shares that were outstanding during the year.
The following table sets out the
computation for basic and diluted earnings per share
("EPS"):
|
Six Months
Ended
|
Year Ended
|
|
30 June 24
|
30 June 23
|
31 Dec 23
|
|
£'000
|
£'000
|
£'000
|
|
|
|
|
Loss for the year attributable to
equity holders
|
(403)
|
(288)
|
(870)
|
|
|
|
|
Denominator
|
Number
|
Number
|
Number
|
For basic and diluted
EPS
|
6,025,351,235
|
4,385,660,371
|
4,791,613,788
|
|
|
|
|
Basic and diluted EPS
|
(0.01p)
|
(0.01p)
|
(0.02p)
|
Basic and diluted loss per share are
the same as the effect of the outstanding share options is
anti-dilutive and is therefore excluded.
5. INTANGIBLE ASSETS
|
30 June 24
|
30 June 23
|
31 Dec 23
|
|
£'000
|
£'000
|
£'000
|
Exploration and evaluation assets
|
|
|
|
|
|
|
|
Cost:
|
|
|
|
At 1 January
|
12,735
|
12,735
|
12,735
|
Additions
|
-
|
-
|
-
|
Closing Balance
|
12,735
|
12,735
|
12,735
|
Impairment:
|
|
|
|
At 1 January
|
12,041
|
11,867
|
11,867
|
Provision for impairment
|
69
|
-
|
174
|
Closing Balance
|
12,110
|
11,867
|
12,041
|
Carrying value:
|
|
|
|
At
1 January
|
694
|
868
|
868
|
At
period end
|
625
|
868
|
694
|
|
|
|
|
Exploration and evaluation assets
relate to expenditure incurred in prospecting and exploration for
lithium, oil and gas in Bolivia and Ghana. The directors are aware
that by its nature there is an inherent uncertainty in exploration
and evaluation assets and therefore inherent uncertainty in
relation to the carrying value of capitalised exploration and
evaluation assets.
During 2018
the Group resolved the outstanding issues with the Ghana National
Petroleum Company (GNPC) regarding a contract for the development
of the Tano 2A Block. The Group has signed a Petroleum Agreement in
relation to the block and this agreement awaits ratification by the
Ghanian government.
As ratification had not yet been achieved in the prior year the directors, as
a matter of prudence, opted to write down 20% of the carrying value
of the Tano 2A Block historic expenditure. Accordingly, an
impairment charge of £173,609 was recorded in the prior year.
In the current period the directors impaired a further £69,442 of
the historical costs.
The directors believe that there
were no facts or circumstances indicating that the carrying value
of the remaining intangible assets may exceed their recoverable
amount and thus no additional impairment review was deemed
necessary by the directors. The realisation of these intangibles
assets is dependent on the successful discovery and development of
economic deposit resources and the ability of the Group to raise
sufficient finance to develop the projects. It is subject to a
number of potential significant risks, as set out below.
The Group's activities are subject
to a number of significant potential risks including:
·
licence obligations;
·
exchange rate risks;
·
uncertainties over development and operational
costs;
·
political and legal risks, including agreements with
Governments for licences, profit sharing and taxation;
·
foreign investment risks including increases in taxes,
royalties and renegotiation of contracts;
· title
to assets;
·
financial risk management;
· going
concern; and
·
ability to raise finance.
6. INVESTMENT IN JOINT
VENTURE
|
30 June 24
|
30 June 23
|
31 Dec 23
|
|
£'000
|
£'000
|
£'000
|
Cost:
|
|
|
|
At 1 January
|
888
|
-
|
-
|
Additions
|
-
|
888
|
888
|
Closing Balance
|
888
|
888
|
888
|
Carrying value:
|
|
|
|
At
period end
|
888
|
888
|
888
|
|
|
|
|
On 15 February 2023 the Group
announced a heads of agreement around the potential formation of a
50:50 Joint Venture with US based, OTC Markets traded, technology
company, NEXT-ChemX Corporation ("NCX") covering testing,
marketing, and deploying of NCX's proprietary (patent pending)
Direct Lithium Extraction ("DLE") technology in Bolivia. Formation
of the JV was subject to final due diligence and the parties
entering into formal documentation.
The terms of the JV are:
§ A 50:50 joint venture company to be formed on completion of
due diligence covering the exclusive rights to the marketing,
testing and deployment of the NCX DLE technology in
Bolivia.
§ Clontarf Energy plc to contribute $500,000 in cash towards the
pilot plant construction and testing as an exclusivity fee for the
use of the NCX technology.
§ NCX will then issue shares equal to $500,000 at its next
financing (CHMX:OTC) to Clontarf Energy plc.
§ Clontarf Energy plc will issue shares as follows to
NCX:
i. 385
million new Ordinary Shares on proceeding with the Pilot
Plant;
ii. 250
million new Ordinary Shares after successful pilot processing of
Bolivian brines through the NCX pilot plant; and
iii. 250 million
new Ordinary Shares after entry into a construction and processing
contract between the JV and the Bolivian authorities on processing
of Bolivian brines utilising NCX processing technology.
On 5 May 2023 the Company announced that all conditions precedent
had been satisfied with respect to the JV with NCX coming into
force. In this regard, Clontarf paid NCX US$500,000 and issued 385
million new Ordinary Shares in the capital of Clontarf of which
half will be subject to a 12-month lock in requirement.
As at 30 June 2024 no
trading activity had commenced in the JV and as
such there are no results or expenses recorded.
7. SHARE CAPITAL
Deferred Shares - nominal value of 0.24p
|
|
|
|
Number
|
Share
Capital
£'000
|
Share
Premium
£'000
|
At 1 January 2023
|
2,370,826,117
|
5,690
|
-
|
At
31 December 2023 and 30 June 2024
|
2,370,826,117
|
5,690
|
-
|
|
|
|
|
|
|
|
|
|
|
Ordinary Shares - nominal value of 0.01p
|
|
|
Allotted, called-up and fully paid:
|
|
|
|
Number
|
Share
Capital
|
Share
Premium
|
|
|
£'000
|
£'000
|
|
|
|
|
At 1 January 2023
|
2,370,826,117
|
237
|
10,985
|
Issued during the period
|
2,822,500,000
|
282
|
1,849
|
Share issue expenses
|
|
-
|
(97)
|
At
30 June 2023
|
5,193,326,117
|
519
|
12,737
|
|
|
|
|
Issued during the period
|
-
|
-
|
-
|
At
31 December 2023
|
5,293,326,117
|
519
|
12,737
|
|
|
|
|
Issued during the period
|
2,000,000,000
|
200
|
500
|
Share issue expenses
|
-
|
-
|
(42)
|
At
30 June 2024
|
7,293,326,117
|
719
|
13,195
|
|
|
|
|
Movements in issued share
capital
On 18 March 2024 the Company raised
£400,000 via a placing of 1,142,857,143 ordinary shares of 0.01p
each at a price of 0.035p per share. Proceeds raised will be used
to provide additional working capital and fund developments
costs.
On 23 May 2024 the Company raised
£300,000 via a placing of 857,142,857 ordinary shares of 0.01p each
at a price of 0.035p per share. Proceeds raised will be used to
provide additional working capital and fund developments
costs.
8. SHARE BASED PAYMENTS
SHARE
OPTIONS
The Group issues equity-settled
share-based payments to certain Directors and individuals who have
performed services for the Group. Equity-settled share-based
payments are measured at fair value at the date of
grant.
Fair value is measured by the use of
a Black-Scholes model.
The Group plan provides for a grant
price equal to the average quoted market price of the ordinary
shares on the date of grant.
|
30 Jun 24
|
30 Jun 23
|
31 Dec 23
|
|
Options
Number
'000
|
Weighted average exercise
price in pence
|
Options
Number
'000
|
Weighted average exercise
price in pence
|
Options
Number
'000
|
Weighted average exercise
price in pence
|
At 1 January
|
500,500
|
0.03
|
40,500
|
0.7
|
40,500
|
0.7
|
Issued
|
320,000
|
0.0365
|
160,000
|
0.0725
|
460,000
|
0.08
|
Outstanding at end of
period
|
820,500
|
0.1
|
200,500
|
0.2
|
500,500
|
0.3
|
Exercisable at end of
period
|
820,500
|
0.1
|
200,500
|
0.2
|
500,500
|
0.3
|
On 9 April 2024 a total of
160,000,000 options were granted with a fair value of £56,981 to
Directors and individuals who have performed services for the
Group. On 16 June 2024 a total of 160,000,000 options were granted
with a fair value of £59,321 to Directors and individuals who have
performed services for the Group. These fair values were calculated
using the Black-Scholes valuation model.
The inputs into the Black-Scholes
valuation model were as follows:
Grant 9 April 2024
Weighted average share price at date
of grant (in
pence)
0.0365p
Weighted average exercise price (in
pence)
0.0365p
Expected volatility
165.90%
Expected life
7 years
Interest free rate
4.25%
Expected dividends
none
Grant 17 June 2024
Weighted average share price at date
of grant (in
pence)
0.0385p
Weighted average exercise price (in
pence)
0.0385p
Expected volatility
153.03%
Expected life
7 years
Interest free rate
4.25%
Expected dividends
none
Expected volatility was determined
by management based on their cumulative experience of the movement
in share prices. The terms of the options granted do not contain
any market conditions within the meaning of IFRS 2.
The Group capitalised expenses of
£Nil (2023: £Nil) and expensed costs of £116,303 (2023: £106,632)
relating to equity-settled share-based payment transactions during
the year.
Warrants
|
30 Jun 24
|
30 Jun 23
|
31 Dec23
|
|
Warrants
Number
'000
|
Weighted average exercise
price in pence
|
Warrants
Number
'000
|
Weighted average exercise
price in pence
|
Warrants
Number
'000
|
Weighted average exercise
price in pence
|
At 1 January
|
533,183
|
0.22
|
435,683
|
0.25
|
435,683
|
0.25
|
Issued
|
-
|
-
|
97,500
|
0.065
|
97,500
|
0.065
|
Exercisable at end of
period
|
533,183
|
0.22
|
533,183
|
0.22
|
533,183
|
0.22
|
There were no warrants issued in the
current period.
9. POST BALANCE SHEET
EVENTS
There are no significant post
balance sheet events affecting the Company.
10. The Interim Report for the
six months to 30 June 2024 was approved by the Directors on 13
September 2024.
11. The Interim Report will be available on the Company's website
at www.clontarfenergy.com.