DJ IMC Exploration Group Plc Replacement : Annual Financial Report

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Please be advised that this announcement is a replacement for the one published at 18:31hrs, yesterday, 30th November.
Please find below the full text of the announcement.
Chairman's Statement.
Financial Results for IMC Exploration Group PLC ('IMC' or 'the Company') for the year ended 30th June 2017

Dear Shareholder, 
The directors of IMC are pleased to present the audited Financial Results for 
('IMC') for the twelve months to 30th June 2017. 
The past twelve months have been remarkable for IMC.  Highlights include: 
*             The completion of an outline study relating to the secondary 
processing of mine material from the Avoca Mine in Co. Wicklow 
*             The Koza report based on legacy data review and reconnaissance on 
exploration targets in Wicklow and Wexford 
*             The commencement of the drilling programme on zinc prospecting 
Licence 3729 in Tulla Co. Clare 
Since March 2017, IMC has been engaged in exploration work in Avoca, Co 
Wicklow.  Work has included assay testing and data collation, petrographic, 
mineralogical and metallurgical testing, along with analysis of potential 
material handling, processing setup, product sale and transport and high-level 
cost analysis.  An Irish governmentcommissioned report indicates the spoilsfrom 
previous extractive activity contain significant concentrations of copper 
(56-11,344 milligrams per kilogram [mg/kg]), zinc (44-7,404 mg/kg), lead 
(112-41,353 mg/kg), and arsenic (18-3,903 mg/kg). 
Earlier this year the Koza team completed an exploration targeting report 
within PL2551, PL3857 and PL 2239, based on the Koza legacy data review and 
reconnaissance mapping.  This is a very important and valuable report and has 
prioritised detailed follow-up exploration work on these licences. 
Post Balance Sheet events: 
In recent months IMC has commenced a drilling programme on PL 3729, Tulla, Co. 
Clare. This licence area adjoins the Kilbricken zinc deposit.  Hannan Metals 
Limited ('Hannan'), a Toronto listed company acquired the Kilbricken zinc 
deposit formerly held by Lunden Mining.  In July 2017, Hannan announced their 
maiden mineral resource estimate which ranks it as one of the top ten base 
metal deposit discovered in Ireland.  IMC's PL 3729 and PL 3644 (Shannon 
licence) is adjacent to the Hannan licence area. 
IMC has made great strides in its numerous exploration activities.  With the 
commencement of our feasibility study on PL 3850 in Avoca, Co. Wicklow, the 
implementation of the recommendations in the Koza report and further drilling 
on our licence area in Co Clare, it is hoped that significant value will be 
added to IMC over the coming weeks and months. 
Liam McGrattan 
Audited Consolidated Statement of Comprehensive Income for the year ended 30 
June 2017 
                                                                                             Audited                Audited 
                                                                                          Year Ended             Year Ended 
                                                                    Notes                  30-Jun-17              30-Jun-16 
                                                                                                Euro                   Euro 
Continuing Operations 
Revenue                                                                                            -                      - 
Other Income / (Expense)                                                                           -                      - 
Administrative Expenses                                                                    (267,507)              (410,007) 
(Loss) before tax                                                                          (267,507)              (410,007) 
Income tax expense                                                                               (0)                      0 
(Loss) for period from continuing operations                                               (267,507)              (410,007) 
Other Comprehensive income                                                                         -                      - 
Loss for the period and total comprehensive loss for the                                   (267,507)              (410,007) 
Earning per share (all continuing) 
Loss per ordinary share - basic & diluted                               1                    (0.002)                (0.004) 
Audited Consolidated Statement of Financial Position As at 30 
June 2017 
                                                                                            Audited                 Audited 
                                                                                         Year Ended              Year Ended 
                                                                   Notes                  30-Jun-17               30-Jun-16 
Non Current Assets                                                     2                    587,666                 587,665 
Current assets 
Debtors                                                                                      81,018                  95,047 
Cash and cash equivalents                                                                  (19,464)                  61,742 
Total assets                                                                                649,219                 744,454 
Equity and liabilities 
"A" Ordinary Share Capital                                                                   38,093                  38,093 
Ordinary Share Capital                                                                      128,517                 107,817 
Share Premium - Ord Shares                                                                2,489,137               2,237,415 
Retained Earnings                                                                       (2,085,462)             (1,817,956) 
Equity attributable to the owners of the Company                                            570,285                 565,369 
Current Liabilities 
Trade & Other Payables                                                                       78,934                 179,085 
Total liabilities                                                                            78,934                 179,085 
Total equity and liabilities                                                                649,219                 744,454 
Audited Consolidated Statement of Changes in Equity for the year ended 
30 June 2017 
                                                                     "A"                      Share 
                                                                Ordinary       Ordinary     Premium 
                                                                   Share          Share    Ordinary    Retained 
                                                                 Capital        Capital      Shares      Losses       Total 
                                                                    Euro           Euro        Euro        Euro        Euro 
Balance at 30 June 2016                                           38,093        107,817   2,237,415 (1,817,956)     565,369 
Loss for the Period                                                    -              -           -   (267,507)   (267,507) 
Other Comprehensive loss for the period                                -              -           -           -           - 
Issue of share capital                                                 -         20,700     251,722           -     272,422 
Share Issue Costs                                                      -              -           -           -           - 
Balance at 30 June 2017                                           38,093        128,517   2,489,137 (2,085,462)     570,285 
Accounting Policies 
Basis of Preparation 
The financial statements have been prepared on a historical 
cost basis. 
The financial statements are presented in Euro. 
1. Statement of Compliance 
The consolidated year end financial statements of IMC Exploration Group PLC and 
its subsidiary have been reviewed by the auditor and have been prepared in 
accordance with International Financial Reporting Standards (IFRS) as adopted 
by the European Union (EU). In addition to complying with its legal obligation 
to comply with IFRS as adopted for use in the EU, the Group has also complied 
with IFRS as issued by the International Accounting Standards Board (IASB). 
Notes to and forming part of the annual financial statements 
1.   Loss per Share 
Basic loss per Ordinary Share amounts are calculated by dividing net loss for 
the period attributable to ordinary equity holders of the parent by the 
weighted average number of Ordinary Shares outstanding during the period. 
Basic earnings per share 
The weighted average number of ordinary shares used in the calculation of basic 
and diluted earnings per share is as follows: 
                                                                                           30-Jun-17               30-Jun-16 
Loss for the period attributable to equity holders of the                                    267,507                 410,007 
Weighted average number of ordinary shares for the purposes of basic                     128,516,719             107,816,719 
earning per share 
Basic (loss) per ordinary share                                                              (0.002)                 (0.004) 
2.   Non Current Assets 
                                                                             Exploration   Plant and   Financial 
                                                                             Expenditure   Equipment      Assets       Total 
                                                                                    Euro        Euro        Euro        Euro 

At 30 June 2016                                                                  587,665       6,125      38,738     632,528 
Disposals                                                                              -           -           -           0 
At 30 June 2017                                                                  587,665       6,125      38,738     632,528 
Provision for diminution in value 
At 30 June 2016                                                                        -     (6,125)    (38,738)    (44,863) 
Charge for period                                                                      -           -           0           0 
Disposal                                                                               -           -           0           0 
At 30 June 2017                                                                        -     (6,125)    (38,738)    (44,863) 
Net book value 
At 30 June 2017                                                                  587,665           0           0     587,665 
Expenditure on exploration activities is deferred on areas of interest until a 
reasonable assessment can be determined of the existence or otherwise of 
economically recoverable reserves. No amortisation has been charged in the 
period. The directors have reviewed the carrying value of the exploration and 
evaluation assets and consider it to be fairly stated and not impaired at 30 
June 2017. The recoverability of the exploration and evaluation assets is 
dependent on the successful development of the group's licence areas. 
3.   Share capital - Group and Company 
                                                                                           30-Jun-17               30-Jun-16 
                                                                                                Euro                    Euro 
200,000,000 Ordinary shares of Euro 0.001 each                                               200,000                 200,000 
50,000 "A" Ordinary shares of One Euro each                                                   50,000                  50,000 
                                                                                             250,000                 250,000 
Issued, called up and fully paid 
                                                                                           Number of       Share       Share 
                                                                                              shares     Capital     Premium 
                                                                                                            Euro        Euro 
Euro 0.001 Ordinary Shares 
As at 30 June 2016                                                                       107,816,719     107,817   2,237,415 
Issued in period                                                                          20,700,000      20,700     251,722 
As at 30 June 2017                                                                       128,516,719     128,517   2,489,137 
Issued, called up and partly paid 
                                                                                           Number of       Share       Share 
                                                                                              shares     Capital     Premium 
                                                                                                            Euro        Euro 
One Euro A Ordinary Shares 
As at 30 June 2016                                                                            38,093      38,093           - 
Issued in period                                                                                   -           -           - 
As at 30 June 2017                                                                            38,093      38,093           - 
"A" Ordinary Shares have the right to receive notice of and attend but not to 
vote at general meetings, no right to a dividend, right to return of capital 
but no further right to participate in a distribution of assets of the company. 
The directors of the issuer accept responsibility for this 
Contact Details: 
IMC Exploration Group PLC 
Mr. Liam McGrattan 
Tel.  Ireland +353 872745427 
This announcement is distributed by PR Newswire on behalf of the company. 
The issuer of this announcement warrants that they are solely responsible for 
the content, accuracy and originality of the information contained therein. 

About IMC Exploration

IMC Exploration Group plc (IMC) is currently listed on the London Stock Exchange market (Ticker: IMC). IMC has a Mineral Resource that is classified as ‘inferred’ and has been reported in accordance with the JORC Code (2012). IMC holds properties in southeast Ireland that are highly prospective for gold, copper and other base metals. These include the world famous historic Avoca copper mine.

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Contact details

IMC Exploration Group plc,
70 Ballybough Road,
Dublin 3, Ireland

Telephone: +353 872819215

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