REG - Gunsynd PLC - Half-year Report
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RNS Number : 2846Y Gunsynd PLC 26 March 2026
Gunsynd plc
("Gunsynd", or the "Company")
Interim Results for the six months ended 31 January 2026
Chairman's Statement
I am pleased to report the interim results for the six months ended 31 January
2026.
Review of Investments
Barb (Gold Project)
In October 2025, Gunsynd received initial assay results confirming high-grade
gold. Mineralisation was proven across the property, including thirteen
samples assaying 1 g/t gold or higher, with the highest reading of 13.12 g/t.
Subsequently in January 2026 Gunsynd announced the 100% Acquisition of the
historic Lotus Mine, along with the Denver and Betty shafts which are
enveloped within the Barb claims.
Bear Twit (Zinc, Lead, Copper Project)
Gunsynd recently increased its land package nearly five-fold, from 17,008 to
82,561 hectares. Simultaneously, Rio Tinto pegged 323,053 hectares adjacent to
the project. In March 2026 Canadian authorities announced the upgrade to an
all-season highway from Wrigley to Norman with construction to start this
summer which provides the prospect of much improved and cheaper transport
costs with respect to the Bear Twit project.
Falcon, Merlin and Greylark (Copper, Uranium Projects)
A third party consultant in August 2025 completed a comprehensive review of
all historical geophysical surveys completed across the Company's land package
in the Hornby Basin including its Falcon, Greylark and Merlin licences and
identified 22 targets to follow up with field work.
Eagle Lake (Gold Project)
In November 2025, Gunsynd entered into an agreement to purchase 10% of the
Eagle Gold project in Ontario, situated in the Wabigoon Greenstone belt which
includes the numerous other gold deposits with Historic sampling of up to 204
g/t. Shortly afterwards Medcaw Investments plc entered into an agreement to
buy the other 90% at a large premium to the Gunsynd purchase price.
Aberdeen Minerals ("Aberdeen")
In September 2025, Aberdeen completed its phase 2 program drilling five hole
core drilling program at Arthrath Nickel-Copper Project, Aberdeenshire. All
holes intersected significant sulphide mineralisation, further demonstrating
the continuity and consistency of the mineral system. Subsequently £850,000
was investment by Central Asia Metals plc ("CAML") through the exercise of 11p
warrants to fund the Phase 3 programme, at a price representing an uplift in
value for all shareholders. CAML increased their interest in Aberdeen
Minerals from 28.4% to 32.6%. CAML is an AIM listed company with market
capitalisation of approx. £300 million.
Richmond Hill Resources PLC (formerly Rogue Baron PLC)
Richmond Hill was admitted to trading on AIM in October 2025 and acquired the
Saint Sophie Copper Project in Quebec, Canada. In January 2026, Richmond Hill
entered into a sale and purchase agreement to acquire the Martello Gold
Project in Ontario, Canada with rig mobilisation for drilling expected to
occur by 31 March 2026.
Black Schist Projects
The operator and majority owner continues to review future upside in the Black
Schist Project and is considering how best to advance it, which offers
potential optionality in the future as nickel supply rebalances and prices
potentially recover.
Finance Review
The Company's profit for the period was £588,000 (31 January 2025: £357,000
loss). The realised and unrealised market valuation on financial investments
for the period was a profit of £990,000 (31 January 2025: £49,000 loss).
The Company had net assets at 31 January 2026 of £2,802,000 (31 January 2025:
£1,677,000) including cash balances of £563,000 (31 January 2025:
£105,000).
Outlook
We maintain a level of diversification in our portfolio but are mainly
concentrated in natural resources, particularly in North America and are
unlikely to change this in the near future. Equity prices for junior resources
stocks again remain depressed in the period. Although not yet reflected in
equity prices, commodity prices, particularly gold and copper, have exhibited
signs of recent strength notwithstanding recent events.. We remain optimistic
that provided the situation in the Middle East is resolved soon the outlook
for gold in particular looks positive.
Gunsynd very much looks forward to updating the market on progress of its
Canadian assets over the coming year.
Hamish Harris
Chairman
This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company are responsible for
the release of this announcement.
For further information, please contact:
Gunsynd plc +44 (0) 78 7958 4153
Hamish Harris / Peter Ruse
Cairn Financial Advisers LLP (Nominated Adviser) +44 (0) 20 7213 0880
Liam Murray / James Western
AlbR Capital Limited (Broker) +44 (0)20 7469 0936
Lucy Williams
The interim results will be available electronically on the Company's website:
www.gunsynd.com (http://www.gunsynd.com) .
Gunsynd plc
Consolidated statement of comprehensive income - unaudited
For the six months ended 31 January 2026
Unaudited Unaudited Audited
Six months ended
Six months ended
Year
31 January
31 January
ended
2026 2025
31 July
2025
£'000 £'000 £'000
Unrealised gain/(loss) on financial investments 682 (74) 112
Realised gain on financial investments 308 25 186
990 (49) 298
Administrative and other costs (387) (298) (645)
Impairment of financial investments (12) (25) (75)
Share based payments (15) - -
Other income 12 14 29
Finance income - 1 2
Profit/(loss) before tax 588 (357) (391)
Taxation - - -
Profit/(loss) for the period 588 (357) (391)
Profit/(loss) for the period and total comprehensive loss attributable to 588 (357) (391)
equity shareholders
Other comprehensive income/(expenditure) for the period net of tax - - -
Total comprehensive income/(expenditure) for the period 588 (357) (391)
Profit/(loss) per ordinary share
Basic 0.042 (0.042) (0.043)
Diluted 0.034 (0.042) (0.043)
Gunsynd plc
Consolidated statement of financial position - unaudited
As at 31 January 2026
Unaudited Unaudited Audited
At 31 January 2026
At 31 January 2025
At 31 July
2025
£'000 £'000 £'000
ASSETS
Non-current assets
Exploration assets 1,275 - 395
Financial investments 1,011 1,436 1,155
Trade and other receivables 126 - 159
Total non-current assets 2,412 1,436 1,709
Current assets
Trade and other receivables 95 264 162
Cash and cash equivalents 563 105 439
Total current assets 658 369 601
Total assets 3,070 1,805 2,310
LIABILITIES
Current liabilities
Deferred consideration (105) - -
Trade and other payables (163) (128) (169)
Total current liabilities (268) (128) (169)
Total liabilities (268) (128) (169)
Net assets 2,802 1,677 2,141
EQUITY
Equity attributable to equity holders of the company
Ordinary share capital 1,354 882 1,264
Deferred share capital 2,299 2,299 2,299
Share premium reserve 13,870 13,744 13,860
Investment in own shares (119) (77) (77)
Share based payment reserve 15 - -
Retained earnings (14,617) (15,171) (15,205)
Total equity 2,802 1,677 2,141
Gunsynd plc
Consolidated statement of changes in equity - unaudited
For the six months ended 31 January 2026
Ordinary Share Capital Deferred share capital Share Premium Investment in own shares Share Based Payment Reserve Retained earnings Total
£'000 £'000 £'000 £'000 £'000 £'000 £'000
Unaudited
At 31 July 2024 519 2,299 13,596 (43) - (14,814) 1,557
Loss for the six month period ended 31 January 2025 - - - - - (357) (357)
Total comprehensive expenditure for the period - - - - - (357) (357)
Transactions with owners:
Issue of share capital 363 - 161 - - - 524
Share Issue Costs - - (13) - - - (13)
Adjustment for shares held in Trust - - - (34) - - (34)
At 31 January 2025 882 2,299 13,744 (77) - (15,171) 1,677
Audited
At 31 July 2024 519 2,299 13,596 (43) - (14,814) 1,557
Loss for the year - - - - - (391) (391)
Total comprehensive expenditure for the year - - - - - (391) (391)
Transactions with owners:
Issue of share capital 745 - 313 - - - 1,058
Share Issue Costs - - (49) - - - (49)
Adjustment for shares held in Trust - - - (34) - - (34)
At 31 July 2025 1,264 2,299 13,860 (77) - (15,205) 2,141
Unaudited
At 31 July 2025 1,264 2,299 13,860 (77) - (15,205) 2,141
Profit for the six month period ended 31 January 2026 - - - - - 588 588
Total comprehensive income for the period - - - - - 588 588
Transactions with owners:
Issue of share capital 90 - 32 - - - 122
Share Issue Costs - - (22) - - - (22)
Adjustment for shares held in Trust - - - (42) - - (42)
Share based payments - - - - 15 - 15
At 31 January 2026 1,354 2,299 13,870 (119) 15 (14,617) 2,802
Gunsynd plc
Consolidated statement of cash flows - unaudited
For the six months ended 31 January 2026
Unaudited Unaudited Audited
Six months ended
Six months ended
Year
31 January 2026
31 January 2025
ended
31 July 2025
£'000 £'000 £'000
Cash flows from operating activities
Profit/(loss) after tax 588 (357) (391)
Finance income net of finance costs - (1) (2)
Unrealised (gain)/loss on revaluation of financial investments (682) 74 (112)
Realised (gain)/loss on sale of financial investments (308) (25) (186)
Other income - - -
Impairment provision 12 25 75
Shares issued in lieu of payment - 24 79
Share based payments 15 - -
Foreign exchange movements 1 3 (1)
Operating cash outflow before changes in working capital (374) (257) (538)
Movement in trade and other receivables 67 (5) (68)
Movement in trade and other payables (6) (17) 26
Cash flow from operations (313) (279) (580)
Tax received - - -
Net cash outflows (used in) operating activities (313) (279) (580)
Cash flow from investing activities
Payments for exploration assets (696) - (181)
Payments for financial investments (20) (130) (220)
Disposal proceeds from sale of financial investments 1,175 129 582
Unsecured loans to investee company - - 10
Net cash from/(used in) investing activities 459 (1) 191
Cash flows from financing activities
Proceeds on issuing of ordinary shares - 250 730
Cost of issue of ordinary shares (22) (13) (50)
Net cash (used in)/from financing activities (22) 237 680
Net increase/(decrease) in cash and cash equivalents 124 (43) 291
Cash and cash equivalents at start of period 439 148 148
Cash and cash equivalents at end of period 563 105 439
Notes to the interim report
For the six months ended 31 January 2026
1 Basis of preparation
As permitted IAS 34, 'Interim Financial Reporting' has not been applied to
these half-yearly results. The financial information of the Company for the
six months ended 31 January 2026 have been prepared in accordance with UK
adopted International Accounting Standards (IAS) and applicable law. The
interim financial information has been prepared using the accounting policies
which will be applied in the Company's statutory financial statements for the
year ending 31 July 2025.
The financial information shown in this publication is unaudited and does not
constitute statutory accounts as defined in Section 434 of the Companies Act
2006. The comparative figures for the financial year ended 31 July 2025 have
been derived from the statutory accounts for 2025. The statutory accounts have
been delivered to the Registrar of Companies. The auditors have reported on
those accounts; their report was unqualified and did not contain statements
under the section 498(2) or 498(3) of the Companies Act 2006.
2 Earnings per share
The calculation of the loss per share is based on the loss attributable to
ordinary shareholders divided by the weighted average number of shares in
issue during the period.
Unaudited Unaudited Audited
Six months ended
Six months ended
Year
31 January 2026
31 January 2025
ended
31 July 2025
£'000 £'000 £'000
Profit/(loss) on ordinary activities after tax 588 (357) (391)
Weighted average number of ordinary shares for the purposes of basic 1,417.19 853.58 919.7
profit/(loss) per share (millions)
Weighted average number of ordinary shares for the purposes of diluted 1,738.19 931.30 1015.06
profit/(loss) per share (millions)
Basic profit/(loss) per share (expressed in pence) 0.042 (0.042) (0.043)
Diluted profit/(loss) per share (expressed in pence) 0.034 (0.042) (0.043)
3 Events after the end of the reporting period
On 11 February 2026, the Company completed the acquisition of the Lotus 1,
Lotus 2, Brook and Denver mineral claims located within its Barb Gold Project
in Manitoba, Canada.
Consideration comprised a cash payment of approximately £135,000 and the
issue of 11,654,783 new ordinary shares at a price of 0.115 pence per share.
In addition, 11,304,346 new ordinary shares were issued at a price of 0.115
pence per share to settle certain outstanding creditor balances associated
with the transaction.
4 Financial Information
The Board of Directors approved this interim report on 25 March 2026.
A copy of this report can be obtained from our website at www.gunsynd.com
(http://www.gunsynd.com)
Forward Looking Statements
This announcement contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such
as general economic, market and business conditions, competition for qualified
staff, the regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political jurisdiction,
uncertainties regarding the results of exploration, uncertainties regarding
the timing and granting of prospecting rights, uncertainties regarding the
Company's ability to execute and implement future plans, and the occurrence of
unexpected events. Actual results achieved may vary from the information
provided herein as a result of numerous known and unknown risks and
uncertainties and other factors.
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