8 September 2016

Wishbone Gold Plc

Wishbone Gold Plc / Index: AIM / Epic: WSBN / Sector: Natural Resources Wishbone Gold PLC ("Wishbone Gold" or the "Company")

Interim Results and Trading Update Interim Results

Wishbone Gold Plc (the Company) has pleasure in announcing the interim results for the group to 30thJune 2016. We remind shareholders that these are unaudited and based only on management accounts. The highlights are set out below.

These results include Precious Metals International Ltd and Black Sand FZE for the first time from the acquisition date of 4thFebruary 2016.

The Company raised funding for the gold trading to commence at the beginning of June, therefore no gold trading results are included in these results.

Trading Update

Black Sand FZE has now signed supply agreements with companies in Peru, Ghana, Chile and Colombia. It normally takes around three to four months to integrate a company into the supply chain because gold trading is a highly regulated business and in the Wishbone group we are insistent that the entire supply chain complies with OECD guidelines on precious metals trading.

Currently we are shipping gold from Ghana and Peru. We are on track to meet our year end target of shipping 100 kilos per week. In addition the Company has contracts under negotiation for further suppliers in the above and other countries.

Proactive Investors One2One Presentation

Chairman and CEO, Richard Poulden will be presenting at the Proactive Investors One2One Forum at 1900 on the 8th September at the Chesterfield Hotel, Mayfair, London.

ENDS

For further information, please contact: Wishbone Gold Plc

Richard Poulden, Chairman and CEO Tel: +44 207 812 0645

Allenby Capital

Nick Naylor / Nick Harriss / James Thomas Tel: +44 20 3328 5656

Damson Communications

Abigail Stuart-Menteth / Amelia Hubert Tel: +44 207 812 0645

Wishbone Gold PLC Consolidated Income Statement for the period from 1 January 2016 to 30 June 2016 Unaudited Six Months Ended 30 June 2016 Unaudited Six Months Ended 30 June 2015 Audited Year Ended 31 December 2015 $ $ $

Abortive acquisition costs

-

(97,997)

(195,775)

Administrative expenses

(167,762)

(361,600)

(622,659)

Operating loss

(167,762)

(459,597)

(818,434)

Impairment of investments

(29,046)

-

(272,450)

Foreign exchange gain

31,429

-

-

Finance cost

(19,868)

(10,401)

(29,227)

Loss on ordinary activities before taxation

(185,247)

(469,998)

(1,120,111)

Tax on loss on ordinary activities

-

-

-

Loss for the financial year

(185,247)

(469,998)

(1,120,111)

Wishbone Gold PLC Consolidated Statement of Financial Position as at 30 June 2016

Unaudited Six Months Ended 30

June 2016

Unaudited Six Months Ended 30

June 2015

Audited Year Ended

31 December 2015

Current assets

$

$

$

Trade and other receivables

218,376

36,821

16,677

Cash and cash equivalents

417,874

108,134

263,741

636,250

144,955

280,418

Non-current assets

Intangible assets

421,994

406,901

404,409

Investments

82,381

384,537

91,152

504,375

791,438

495,331

Total assets

1,140,625

936,393

775,749

Current liabilities

375,896

1,508,294

200,661

Capital and reserves

Share capital

1,128,351

419,146

1,128,351

Share premium

4,569,658

3,671,758

4,569,658

Share based payment reserve

70,165

74,205

70,165

Accumulated losses

(5,496,684)

(4,661,324

(5,311,437)

Foreign exchange reserve

93,239

(75,686)

118,351

Total equity and liabilities

1,140,625

936,393

775,749

Wishbone Gold PLC

Consolidated Statement of Cash Flows

for the period from 1 January 2016 to 30 June 2016

Unaudited Six

Unaudited Six

Audited

Months Ended 30

Months Ended 30

Year Ended

June 2016

June 2015

31 December 2015

$

$

$

Cash flows from operating activities

Loss before tax

(185,247)

(459,597)

(1,120,111)

Reconciliation to cash generated from

operations:

Foreign exchange (gain)/loss

(31,429)

-

22,125

Interest expense

29,046

-

29,227

Impairment losses

-

-

272,450

Administrative expenses converted into

ordinary shares

-

-

1,209,625

Operating cash flow before changes in

working capital

(187,630)

(459,597)

(413,316)

Decrease/(increase) in receivables

(201,699)

(8,210)

11,934

Increase/(decrease) in payables

175,235

(55,253)

(816,781)

Cash outflow from operations

(214,094)

(523,060)

(391,531)

Cash flows from investing activities

Decrease in Investments

8,771

-

-

(Increase)/Decrease in Intangible Assets

(17,815)

2,508

-

(Income) on exploration activities

-

-

(1,170)

Net cash flow from investing activities

(9,044)

2,508

(1,170)

Cash flows from financing activities

Proceeds of loan from Sanderson Capital

Partners Limited

400,000

-

-

Interest paid

-

(10,401)

-

Issue of shares for cash

-

-

368,253

(Decrease)/Increase in borrowings

-

313,080

(233,025)

Net cash flow from financing activities

400,000

302,679

135,288

Effects of exchange rates on cash and cash

equivalents

(22,729)

22,217

216,254

Net increase/(decrease) in cash

154,133

(195,656)

(40,049)

Cash at bank at 1 January

263,741

303,790

303,790

Cash at bank 30 June 2016

417,874

108,134

263,741

Wishbone Gold plc published this content on 08 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 08 September 2016 16:02:03 UTC.

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