Half-year Results

Atlas Metals plc (LON: AMG), the natural resources and energy investment company, announces its unaudited interim results for the six months ended 30 June 2026 (“H1” or the “Period”).

Financial Review

Atlas Metals reported an unaudited operating loss for the six months ended 30 June 2026 of £2,962,304 (six months to 30 June 2025: an unaudited operating loss of £728,291).

Basic and diluted loss per share for the Period was 10.18p (six months to 30 June 2025: Basic loss per share and diluted loss per share was 4.93p).

Acquisition of Universal Pozzolanic Silica Alumina Ltd

As previously announced, the Company has commissioned material testing and additional drilling activity to enhance and refine the nature of the initial inferred resource previously reported. The Company is pleased to report that it expects to be able to release the findings of this activity shortly, which will also inform future strategy as to development and commercialisation activities, and enable a further submission to be made to the FCA to advance the prospectus review process.

Christopher Chadwick, Executive Director

Half-yearly report notes

Half-yearly report

This interim report was approved by the Board of Directors on 30 September 2026.

The information relating to the six months periods to 30 June 2026 and 30 June 2025 are unaudited.

The information relating to the year ended 31 December 2025 is extracted from the audited financial statements of the Company which have been filed at Companies House and on which the auditors issued an unqualified audit report.

Basis of accounting

The interim financial statements have been prepared using accounting policies and practices that are consistent with those adopted in the statutory financial statements for the year ended 31 December 2025, although the information does not constitute statutory financial statements within the meaning of the Companies Act 2006. The interim financial statements have been prepared under the historical cost convention.

These interim financial statements are prepared in accordance with UK-adopted international accounting standards and the Disclosure and Transparency Rules of the UK Financial Conduct Authority.

This interim report does not include all the notes of the type normally included in an annual financial report. Accordingly, this interim report should be read in conjunction with the annual report for the year ended 31 December 2025.

The Company will report again for the full year to 31 December 2026.

Going concern

The Company’s day to day financing is from its available cash resources.

The Company is confident of raising funds and disposing of non-core assets to execute its’ strategy of completing a reverse takeover in a timely manner.

For the reasons outlined above, the Directors are satisfied that the Company will be able to meet its current and future liabilities, and continue trading, for the foreseeable future and, in any event, for a period of not less than twelve months from the date of approving this interim report. The preparation of these interim financial statements on a going concern basis is therefore considered to remain appropriate.

Critical accounting estimates

The preparation of condensed interim financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the end of the reporting period. Significant items subject to such estimates are set out in the Company's 2025 Annual Report and Financial Statements. The nature and amounts of such estimates have not changed significantly during the interim period.

Intangible assets

Exploration and development costs

All costs associated with mineral exploration and investments are capitalised on a project-by-project basis, pending determination of the feasibility of the project. Costs incurred include appropriate technical and administrative expenses but not general overheads. If an exploration project is successful, the related expenditures will be transferred to mining assets and amortised over the estimated life of economically recoverable reserves on a unit of production basis.

Intangible assets

Exploration and development costs

Where a licence is relinquished or a project abandoned, the related costs are written off in the period in which the event occurs. Where the Group maintains an interest in a project, but the value of the project is considered to be impaired, a provision against the relevant capitalised costs will be raised.

Earnings per share

By order of the Board

Christopher Chadwick

Director