Interim Financial Results for the Six Months to 31 December 2025

BWA

20/03/2026 07:00

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/31

 

20 March 2026

BWA Group PLC

 
(“

BWA

” or the “

Company

”)
 
 
 
 

Interim Financial Results for the Six Months to 31 December 2025

 

BWA Group Plc [AQSE:
 

BWAP

], which has mineral exploration licences in both
 
Cameroon
 
and
 
Canada
 
at various early stages of development and is quoted on London’s Aquis Growth Market, announces its unaudited financial results for the Interim Period of six months to 31 December 2025, following the announcement of its Audited Accounts for the year to 30 June made on 17 November 2025.

 

A copy of this announcement can be viewed on the Company’s website,
 

http://www.bwagroupplc.com/bwa-announcements.html

.

 

Chairman’s Statement

 

In the first half of its financial year, to 31
 
December 2025, the Company continued to invest in its mineral sands exploration permits in Cameroon and, notably, signed an Option and Earn-In Agreement with Aurum Discovery Holdings Limited and Global Acquisitions SARL to acquire a 70% equity interest in the Aracari Gold Project in Cameroon. Following the announcement of contract signature on 15
 
September 2025, ground truthing reconnaissance work was undertaken in November 2025. This produced 193 samples that were sent for assay in December. The results were announced on 21
 
January 2026, showing multiple high-grade findings in the zone next to Oriole Resources’ significant MRE of 870,000 oz. Gold is present across the 62km of the licenced areas. Further work will be undertaken in the current half year to determine the extent of deposits and to identify priority areas for drilling.

 

Jonathan Wearing
,

Chairman

 

The Board are responsible for the contents of this announcement.

 

Ends –

 

For further information:

 

 

BWA Group PLC
 James Butterfield, Managing Director
 Jonathan Wearing – Chairman 

+44 (0) 7770 225253
enquiries@bwagroupplc.com
Allenby Capital Limited
Corporate Adviser 
 Nick Harriss/Nick Naylor


+44 (0) 20 3328 5656

Oberon Investments Limited
 Adam Pollock/Nick Lovering


 +44 (0) 20 3179 5300

 

INCOME

STATEMENT

 

 

Notes
6months ended 
31December2025
Unaudited 
£
6months ended 31December 2024
 Unaudited 
£
12 months ended 30 June2025
 Audited 
£
Administrativeexpenses
(185,986)
(162,171)
(320,588)
(185,986)
(162,671)
(320,588)
Otheroperatingincome
163,310
160,000
320,000
Gain/(loss)onrevaluationofinvestments
(55,618)
-
(52)
Operatingprofit/(loss)
(78,294)
(2,671)
(640)
Interestreceivableand similarincome
262
461
735
(78,032)
(2,210)
95
Interestpayableandsimilarexpenses
(2,110)
(3,066)
(6,184)
Profit/(loss)onordinaryactivities
beforeand aftertaxation and retained
fortheperiod
(80,142)
(5,276)
(6,089)
Earnings/(loss)perordinaryshare:
Basic(pence)
2
(0.008)
(0.01)
(0.001)

 

Diluted(pence)
2
(0.008)
(0.01)
(0.001)

 

 

 

All

amounts

relate

to continuing

activities.

 

STATEMENT

OF

OTHER

COMPREHENSIVE

INCOME

 

 

Notes
6months ended 
31December2025Unaudited 
£
6months ended 31December 2024 Unaudited 
£
12 months ended 30 June2025 Audited 
£
Profit/(loss)fortheperiod
(80,142)
(5,276)
(6,089)
Othercomprehensiveincome
-
-
-
Totalcomprehensiveprofit/(loss)
fortheperiod
(80,142)
(5,276)
(6,089)

 

BALANCE

SHEET

 

 

Notes
At 31December 2025
Unaudited
At 31December 2024
Unaudited
At 30June2025

 Audited
£
£
£
FixedAssets
Investments
3,117,205
2,744,433
3,045,967
Current Assets
Debtorsandprepayments
1,580,999
1,037,092
1,221,538
Cashat bank andinhand
47,666
55,238
20,354
1,628,665
1,092,330
1,241,892
Creditors:amountsfallingdue
withinone year
(1,139,330)
(370,826)
(603,986)
Netcurrentassets/(liabilities)
489,335
721,504
637,906
Totalassetslesscurrentliabilities
3,306,540
3,465,937
3,683,873
Creditors:amountsfallingdue
after one year
(25,991)
(26,076)
(23,182)
Netassets
3,580,549
3,439,861
3,660,691
Capitalandreserves
Calledupsharecapital
3
4,851,328
4,663,018
4,851,328
Sharepremium
4
99,621
66,288
99,621
Capitalredemptionreserve
4
288,625
288,625
288,625
Otherreserve
4
(83,125)
(300,541)
(83,125)
Equityreserve
4
152,865
370,333
152,865
Retainedearnings
4
(1,728,765)
(1,647,862)
(1,648,623)
Shareholders’funds
3,580,549
3,439,861
3,660,691

 

CASH

FLOW

STATEMENT

 

 

Notes
6 monthsended
31December 2025
Unaudited
£
6 monthsended
31 December 2024
Unaudited
£
12 months ended
30 June 2025
Audited
£
Cashflowsfrom operatingactivities
(99,501)
(66,003)
(353,179)
Cashflowsfrominvestingactivities
Loanstosubsidiaryundertakings
(430,699)
(471,689)
(627,577)
Interestreceived
262
461
735
Netcashfrominvestingactivities
(430,437)
(471,228)
(626,842)
Cashflowsfromfinancingactivities
New loans in period
560,000
100,000
320.000
Loansrepaid
(2,750)
(2,669)
(14,763)
Issue of shares
-
450,000
650,000
Netcashfromfinancingactivities
557,250
547,331
955,237
Increase/(decrease)incashand
cashequivalents
27,312
10,100
(24,784)
Cashandcashequivalentsat
beginningofperiod
20,354
45,138
45,138
Cashandcashequivalentsatendofperiod
47,666
55,238
20,354

 

NOTES TO THE FINANCIAL INFORMATION

 

Status

of

these

accounts

The interim accounts for the period from 1 July 2025 to 31 December 2025 are unaudited. The financial

information set out in this statement does not constitute statutory accounts within the meaning of the

Companies

Act

2006.

 

2.
        
Earnings

per

ordinary

share

Basic

and

diluted

earnings

per

share

figures

are

based

on

the

following

profits

/

(losses)

and

numbers

of

shares:

 

 

6 monthsended
31December 2025
Unaudited
£
6 monthsended
31December2024
Unaudited
£
12 months ended
30June2025
Audited
£
Profit/ (loss)beforetax
£ (80,142)
£ (5,276)
£ (6,089
Weightedaveragenumberofsharesfor Thepurposeofbasicearningspershare
970,265,698
881,674,545
909,500,865
Weightedaveragenumberofsharesfor thepurposeofdilutedearningspershare
970,265,698
881,674,545
909,500,865

 

 

 

Share capital

 

At
31December 2025
Unaudited
£
At
31December 2024
Unaudited
£
At
30 June 2025
Audited
£
Allotted, called up and fully paid
970,265,698 ordinary shares of 0.5p
(31 December 2024: 923,603,530;
30June2025: 970,265,698)
4,851,328
4,663,018
4,851,328

 

4.
Reserves

Share premium
Capital redemption reserve

Other reserve

Equity
reserve

Retained
Earnings

Total
£
£
£
£
£
£
At1 January2024
23,858
288,625
(3,306,649)
4,353,063
(1,553,970)
(195,073)
Lossfortheperiod
Loan note conversion
Loan note cancellation
-
42,430
-
-
-
3,006,282
-
(985,706)
(3,006282)
(94,066)
(94,066)
(943,276)
-
Loannoteinterest
-
-
-
9,258
-
9,258
Reservestransfer
-
-
(174)
-
174
-
At31 December 2024
66,288
288,625
(300,541)
370,333
(1,647,862)
(1,223,157)
Lossfortheperiod
-
-
-
-
(813)
(813)
Loan note cancellation
-
-
217,468
(217,468)
-
-
Loannoteinterest
-
-
-
-
-
-
Share capital issued
33,333
-
-
-
-
33,333
Reservestransfer
-
-
(52)
-
52
-
At30 June 2025
99,621
288,625
(83,125)
152,865
(1,648,623)
(1,190,637)
Lossfortheperiod
-
-
-
-
(80,142)
(80,142)
At31 December2025
99,621
288,625
(83,125)
152,865
(1,728,765)
(1,270,779)

 

 

5.

 

Valuation of

Investments

 

The whole of the Company's investment in Cameroon, including loans made to BWA Resources (UK) Limited and BWA Resources (Cameroon) Limited,

is carried in the balance sheet at £2,941,424.

The Company's investment in Kings of the North Corp (‘KOTN’) is

valued and under review at £1,362,382 plus an intercompany loan account of £286,226. The Company is also carrying £81,857 in relation to its Aracari project.

 

The valuation of unlisted investments requires the Directors to make judgments,

estimates and assumptions that are believed to be reasonable under the circumstances, but which affect the

reported fair value of those investments. The recoverability of the investments in Cameroon and KOTN is

dependent on the future profitability of the underlying businesses. The Directors have reviewed the current

position

and,

after

taking

into

account

a

number

of

factors,

believe

that

the

valuations

at

31

December

2025 remain

appropriate.

2026.03.16 Interims FINAL.pdf

 

 


2026 03 16 Interims FINAL