RNS Number:1412U
Minco PLC
13 January 2004

                                   MINCO plc
          Interim Statement for the period 1 May 2003 - 31 October 2003


Minco is a focused gold and silver explorer with attractive projects in Mexico,
Central Asia and Ireland. The current year will see significant progress on the
Laguna silver project in Mexico, as well as drilling in Mexico, Central Asia and
Ireland.  There is a strong possibility of a viable mining project by year end.
We are well financed and have an experienced team of executives.


The acquisition of Orca Gold in October was a significant turning point for
Minco. Not only did we acquire a portfolio of silver properties in Mexico, and
gold contacts in Central Asia, we also took on board as full time management,
the three founders of Orca, Roger Turner, Mathew Dorman and Richard Thornton.


The most advanced project is the Laguna silver tailings in the Zacetecas area of
Mexico. A licence has been issued, and will be registered in early 2004, to
extract the silver-rich tailings contained within Laguna. This licence will be
for a period of 20 years and entitles Minco to extract 6 million cubic meters of
tailings from the lake. Laguna contains gold, silver and mercury produced from
silver amalgam plants operated under Spanish Colonial rule, from the 16th to the
19th Century.  Laguna was the subject of an independent pre-feasibility study in
the mid 1990's when the entire resource was estimated as containing 55m oz
silver and 130,000 oz gold.


Two other silver properties in Mexico, El Milagros and El Morro, have returned
high values from vein sampling and geochemical soil sampling programmes. Further
exploration, which will include drilling, is underway.


In recent weeks, we have invited Mr. Jitendra Patel to join the board. He has
purchased 4.2 million new shares. In addition, Mr. Patel has been granted
options to subscribe for a further 4.2 shares at 9.5p per share for a period of
6 months, expiring in June 2004. The funds raised will be used to purchase a
drill rig and to pursue an active drilling programme in Central Asia.  Drilling
should commence in the first quarter of 2004.


In a separate agreement with Mr. Patel, the Board has agreed a staged payment in
shares, dependent on Minco obtaining certain identified gold concessions in
Central Asia. Payment of 1 million shares has been approved for work done in
negotiating a concession in Uzbekistan. Mr. Patel has significant business
interests in Uzbekistan that have been built up over the past 10 years. His
company will provide Minco with office space and logistical support in Tashkent.


Our Irish licences have not been ignored. There is an ongoing exploration
programme on our gold licences in Avoca, Co. Wicklow. Together with our partner
Noranda, we will undertake, in the second quarter of 2004, a drilling programme
on the extensive thirteen block PallasGreen Co. Limerick licence area. This is a
world-class zinc target.


The financial statements below include the full six months results from the
Irish operations and a Euro4,000 operating loss for the period 10th - 31st October
2003 for Orca Gold, being the period that Minco owned Orca Gold. The profit on
sale reflects the sale on 25 June 2003 of Minco's 100 per cent interest in Irish
Base Metals Limited, which contributed to the Company's profit before tax of
Euro12,000.  The increase in fixed asset value at 30 October 2003 results from the
inclusion of Orca Gold.  At 30th October 2003 there were cash balances of Euro
460,436 (2002 - Euro 88,698) included in current assets, since increased by
placings announced in December 2003.


Gold and silver, after being out of favour for two decades, are once again in
the limelight. Prices of both metals probably have further to run. Investor
interest has returned to mining and exploration ventures. Companies with strong
portfolios of high potential gold and silver projects should benefit from the
renewed interest. Minco, with a prime portfolio is very well placed.



                                    Financial Information
                                       (unaudited)


                                                       Six Months ended
Group Profit and Loss                               31 Oct, 2003           31 Oct, 2002
                                                           Euro'000                  Euro'000
Operating Loss                                              (65)                   (49)
Interest Receivable                                            -                      2
Profit on Sale of Subsidiary                                  77                      -
                                                            
Profit/(Loss) before Taxation                                 12                   (47)
Taxation                                                       -                      -
Profit/(Loss) for the period                                  12                   (47)
Profit/(Loss) per share                                     .03c                 (.13c)

Group Balance Sheet                                 31 Oct, 2003           31 Oct, 2002
                                                             000                  Euro'000

Fixed Assets                                               5,433                  2,943
Current Assets                                               564                    107
Current Liabilities                                        (457)                  (134)
Current Assets less Current Liabilities                      107                   (27)
Creditors (amounts falling due after one year)                 -                  (130)
Total Assets less Liabilities                              5,540                  2,786
Share Capital and Reserves                                 5,540                  2,786



Notes:



The figures for the six months to 31 October 2003 and 31 October 2002 are
unaudited.  The financial information set out above does not constitute full
statutory accounts within the meaning of section 240 of the Companies Act 1985.



Copies of this announcement will be sent to shareholders and will be available
for inspection at the Company's registered office at 162 Clontarf Road,
Clontarf, Dublin 3, Ireland.


Contacts:

John Teeling           Tel: 00 353 1 833 2833  Email: minco@iol.ie
Roger Turner           Tel: 00 44 1273495 500 Email: rwt.turner@btopenwprld.com
Matthew Dorman         Tel: 00 34 687 494550   Email: mldorman@orcagoldcorp.com
Richard Thornton       Tel: 00 44 207 286 3694 Email: rfthornton@orcagoldcorp.com






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