Great Western Mining Corporation (CDI)

GWMO · AIM · Basic Resources · mcap £14m · 3.3p

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Financials · LTM to 30 Jun 26

Source: results 25 Sep 26 ↗

Revenue: –
Operating profit: –
Net income: −£2.8m
Free cash flow: −£2.0m
Net cash: £2.4m
Market cap: £13.6m
EV / EBIT: –
FCF yield: −14.6%
Price / book: 1.7×

Latest half-year · H1 26 vs H1 25 results 25 Sep 26 ↗

Net income: −£2.3m
Cash from operations: −£754k

Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

As reported Key figures · multi-year

Income statement Balance sheet Cash flow

Latest interim Latest annual

Half-year Results, published 25 Sep 26 · read the announcement ↗

Unaudited Condensed Consolidated Income Statement · For the six months to 30 June 2026

	Unaudited six months ended 30 Jun 2026 €	Unaudited six months ended 30 Jun 2025 €	Audited year ended 31 Dec 2025 €
Continuing operations
Administrative expenses	(790,910)	(501,649)	(899,576)
(Loss) / gain on revaluation of share warrant provision	(1,855,152)	15,073	(182,791)
Impairment of exploration and evaluation assets	-	-
Finance income	11,705	1,344	4,575
Loss for the period before tax	(2,634,357)	(485,232)	(1,077,792)
Income tax expense	-	-	318
Loss for the financial period	(2,634,357)	(485,232)	(1,077,474)
Loss attributable to
Equity holders of the Company	(2,634,357)	(485,232)	(1,077,474)
Loss per share from continuing operations
Basic and diluted loss per share (cent)	(0.0069)	(0.0085)	(0.0092)

Unaudited Condensed Consolidated Statement of Financial Position · For the six months to 30 June 2026 · Assets € € €


Non-current assets
Property, plant and equipment	7	93,311	69,743	69,565
Intangible assets	8	9,018,938	7,880,337	8,555,874
Investment in joint venture	9	584,786	568,221	566,770
Total non-current assets	9,697,035	8,518,301	9,192,209
Current assets
Trade and other receivables	10	438,125	154,343	113,512
Cash and cash equivalents	11	2,774,640	1,238,490	65,724
Total current assets	3,212,765	1,392,833	179,236
Total assets	12,909,800	9,911,134	9,371,445
Equity
Capital and reserves
Share capital	15	1,082,138	1,056,285	1,056,535
Share premium	15	20,840,325	17,473,661	17,536,077
Share based payment reserve	16	569,520	362,123	240,732
Foreign currency translation reserve	410,159	155,137	126,452
Retained earnings	(13,389,210)	(9,887,899)	(10,358,750)
Attributable to owners of the Company	9,512,932	9,159,307	8,601,046
Total equity	9,512,932	9,159,307	8,601,046
Liabilities
Current liabilities
Trade and other payables	12	277,670	458,500	302,828
Decommissioning provision	13	134,188	122,520	124,321
Share warrant provision	14	2,985,010	170,807	343,250
Total current liabilities	3,396,868	751,827	770,399
Total liabilities	3,396,868	751,827	770,399
Total equity and liabilities	12,909,800	9,911,134	9,371,445
Unaudited Condensed Consolidated Statement of Changes in Equity
For the six months to 30 June 2026
€ € € € € €
Balance at 1 January 2025	1,043,785	16,206,109	337,100	1,160,866	(9,289,034)	9,458,826
Comprehensive income for the period
Loss for the period	-	-	-	-	(485,232)	(485,232)
Currency translation differences	-	-	-	(1,005,729)	-	(1,005,729)
Total comprehensive income for the period	-	-	-	(1,005,729)	(485,232)	(1,490,961)
Transactions with owners, recorded directly in equity
Shares issued	12,500	1,267,552	-	-	(88,610)	1,191,442
Share warrants terminated	-	-	25,023	-	(25,023)	-
Total transactions with owners, recorded
directly in equity	12,500	1,267,552	25,023	-	(113,633)	1,191,442
Balance at 30 June 2025	1,056,285	17,473,661	362,123	155,137	(9,887,899)	9,159,307
Unaudited Condensed Consolidated Statement of Changes in Equity
For the six months to 30 June 2026
€ € € € € €
Balance at 1 July 2025	1,056,285	17,473,661	362,123	155,137	(9,887,899)	9,159,307
Comprehensive income for the period
Loss for the period	-	-	-	-	(592,242)	(592,242)
Currency translation differences	-	-	-	(28,685)	-	(28,685)
Total comprehensive income for the period	-	-	-	(28,685)	(592,242)	(620,927)
Transactions with owners, recorded directly in equity
Shares issued	250	62,416	-	-	-	62,666
Share warrants terminated	-	-	(121,391)	-	121,391	-
Share options charge	-	-	-	-	-	-
Total transactions with owners, recorded
directly in equity	250	62,416	(121,391)	-	121,391	62,666
Balance at 31 December 2025	1,056,535	17,536,077	240,732	126,452	(10,358,750)	8,601,046
Unaudited Condensed Consolidated Statement of Changes in Equity
For the six months to 30 June 2026
€ € € € € €
Balance at 1 January 2026	1,056,535	17,536,077	240,732	126,452	(10,358,750)	8,601,046
Comprehensive income for the period
Loss for the period	-	-	-	-	(2,634,357)	(2,634,357)
Currency translation differences	-	-	-	283,707	-	283,707
Total comprehensive income for the period	-	-	-	283,707	(2,634,357)	(2,350,650)
Transactions with owners, recorded directly in equity
Shares issued	23,216	2,706,246	-	-	(261,428)	2,468,034
Share warrants granted	-	-	134,675	-	(134,675)	-
Share warrants exercised	2,387	598,002	(10,513)	-	-	589,876
Share options charge	-	-	204,626	-	-	204,626
Total transactions with owners, recorded
directly in equity	25,603	3,304,248	328,788	-	(396,103)	3,262,536
Balance at 30 June 2026	1,082,138	20,840,325	569,520	410,159	(13,389,210)	9,512,932

Unaudited Condensed Consolidated Statement of Cash Flows · For the six months to 30 June 2026

	Unaudited six months ended 30 Jun 2026 €	Unaudited six months ended 30 Jun 2025 €	Audited period ended 31 Dec 2025 €
Cash flows from operating activities
Loss for the period	(2,634,357)	(485,232)	(1,077,474)
Adjustments for
Depreciation	2,633	-	-
Interest receivable and similar income	(11,705)	(1,344)	(4,575)
Increase in trade and other receivables	(336,879)	(45,719)	(4,993)
Increase in trade and other payables	29,966	168,700	14,254
(Gain)/loss on revaluation of share warrants	1,855,152	(15,074)	182,791
Decrease in tax receivable	21,276	32,698	31,827
Equity settled share-based payment	204,626	-	-
Net cash flows from operating activities	(869,288)	(345,971)	(858,170)
Cash flow from investing activities
Expenditure on intangible assets	(198,395)	(91,515)	(808,539)
Acquisition of property, plant and equipment	(23,695)	-	-
Investment in joint venture	(59,746)	-	(288)
Interest received	11,705	1,344	4,575
Net cash from investing activities	(270,131)	(90,171)	(804,252)
Cash flow from financing activities
Proceeds from the issue of new shares	4,105,946	1,465,932	1,503,177
Commission paid from the issue of new shares	(261,428)	(88,610)	(88,610)
Net cash from financing activities	3,844,518	1,377,322	1,414,567
Increase/(Decrease) in cash and cash equivalents	2,705,099	941,180	(247,855)
Exchange rate adjustment on cash and
cash equivalents	3,817	(2,035)	14,234
Cash and cash equivalents at beginning
of the period	65,724	299,345	299,345
Cash and cash equivalents at end of
the period	2,774,640	1,238,490	65,724

Final Results, published 29 May 26 · read the announcement ↗

Consolidated Income Statement · For the year ended 31 December 2025

	2025 €	2024 €
Continuing operations
Administrative expenses	(1,082,367)	(971,913)
Impairment of exploration and evaluation assets	-	(781,610)
Finance income	4,575	3,441
Loss for the year before tax	(1,077,792)	(1,750,082)
Income tax expense	318	9,026
Loss for the financial year	(1,077,474)	(1,741,056)
Loss attributable to
Equity holders of the Company	(1,077,474)	(1,741,056)
Loss per share from continuing operations
Basic and diluted loss per share (cent)	(0.0092)	(0.0002)

Consolidated Statement of Financial Position · For the year ended 31 December 2025

	2025 €	2024 €
Assets
Non-current assets
Property, plant and equipment	69,565	78,679
Intangible assets	8,555,874	8,740,870
Investment in joint venture	566,770	641,020
Total non-current assets	9,192,209	9,460,569
Current assets
Trade and other receivables	113,512	152,749
Cash and cash equivalents	65,724	299,345
Total current assets	179,236	452,094
Total assets	9,371,445	9,912,663
Equity
Capital and reserves
Share capital	1,056,535	1,043,785
Share premium	17,536,077	16,206,109
Share based payment reserve	240,732	337,100
Foreign currency translation reserve	126,452	1,160,866
Retained earnings	(10,358,750)	(9,289,034)
Attributable to owners of the Company	8,601,046	9,458,826
Total equity	8,601,046	9,458,826
Liabilities
Current liabilities
Trade and other payables	302,828	315,621
Decommissioning provision	124,321	138,216
Share warrant provision	343,250	-
Total current liabilities	770,399	453,837
Total liabilities	770,399	453,837
Total equity and liabilities	9,371,445	9,912,663

Consolidated Statement of Cash Flows · For the year ended 31 December 2025

	2025 €	2024 €
Cash flows from operating activities
Loss for the year	(1,077,474)	(1,741,056)
Adjustments for
Depreciation	-	-
Interest receivable and similar income	(4,575)	(3,441)
(Increase)/Decrease in trade and other receivables	(4,993)	20,672
Impairment expense	-	781,610
Increase/(Decrease) in trade and other payables	14,254	(626)
Loss on revaluation of share warrants	182,791	-
Decrease in tax receivable	31,827	45,757
Equity settled share-based payment	-	133,812
Net cash flows from operating activities	(858,170)	(763,272)
Cash flow from investing activities
Expenditure on intangible assets	(808,539)	(468,300)
Investment in joint venture	(288)	(274,361)
Interest received	4,575	3,441
Net cash from investing activities	(804,252)	(739,220)
Cash flow from financing activities
Proceeds from the issue of new shares	1,503,177	1,825,735
Commission paid from the issue of new shares	(88,610)	(116,168)
Net cash from financing activities	1,414,567	1,709,567
Decrease in cash and cash equivalents	(247,855)	207,075
Exchange rate adjustment on cash and cash equivalents	14,234	(3,036)
Cash and cash equivalents at beginning of the year	299,345	95,306
Cash and cash equivalents at end of the year	65,724	299,345
Company Statement of Cash Flows
For the year ended 31 December 2025
Notes 2025 € 2024 €
Cash flows from operating activities
Loss for the year	(2,105,591)	(2,040,112)
Adjustments for
Interest receivable and similar income	(4,282)	(3,051)
(Increase)/Decrease in trade and other receivables	(3,483)	4,151
Increase in trade and other payables	3,891	29,318
Increase in impairment provision	1,389,000	1,458,000
Loss on revaluation of share warrants	182,791	-
Equity settled share-based payment	-	133,812
Net cash flows from operating activities	(537,674)	(417,882)
Cash flow from investing activities
Interest received	4,282	3,051
Amounts advanced to subsidiary undertakings	(1,113,212)	(1,080,664)
Net cash from investing activities	(1,108,930)	(1,077,613)
Cash flow from financing activities
Proceeds from the issue of new shares	1,503,177	1,825,735
Commission paid from the issue of new shares	(88,610)	(116,168)
Net cash from financing activities	1,414,567	1,709,567
Decrease in cash and cash equivalents	(232,037)	214,072
Cash and cash equivalents at beginning of the year	275,840	61,768
Cash and cash equivalents at end of the year	43,803	275,840

As published in the company's results announcement: every line, heading and subtotal, read automatically from the text. Figures in brackets are negative; units as stated in the column headings.

Income statement Cash flow Balance sheet

Annual Half-yearly

Latest report: H1 26 (six months to 30 Jun 26), published 25 Sep 26 · read the results ↗

£m unless stated · newest first · italic = calculated (LTM, H2 = FY − H1) · hover a value for its source

	LTM Jun 26	FY 25	FY 24
Revenue to operating profit
Share-based payments	–	0.0	0.1
Operating profit to net income
Fair value gains / losses	(1.8)	(0.2)	–
Profit before tax	(2.8)	(0.9)	(1.5)
Tax	–	0.0	0.0
Net income (owners)	(2.8)	(0.9)	(1.5)
Per share
EPS basic	(0.0p)	(0.0p)	(0.0p)
EPS diluted	(0.0p)	(0.0p)	(0.0p)

	H1 26	vs H1 25	H2 25	H1 25
Revenue to operating profit
Share-based payments	0.2	–	–	–
Operating profit to net income
Fair value gains / losses	(1.6)	n/m	(0.2)	0.0
Profit before tax	(2.3)	n/m	(0.5)	(0.4)
Net income (owners)	(2.3)	n/m	(0.5)	(0.4)
Per share
EPS basic	(0.0p)	–	(0.0p)	(0.0p)
EPS diluted	(0.0p)	–	(0.0p)	(0.0p)

	LTM Jun 26	FY 25	FY 24
Operating activities
Cash from operations	(1.2)	(0.7)	(0.6)
Investing activities
Capex (intangibles)	(0.8)	(0.7)	(0.4)
Financing activities
Shares issued	3.6	1.3	1.5

	H1 26	vs H1 25	H2 25	H1 25
Operating activities
Cash from operations	(0.8)	n/m	(0.4)	(0.3)
Investing activities
Capex (PP&E)	(0.0)	–	–	–
Capex (intangibles)	(0.2)	n/m	(0.6)	(0.1)
Financing activities
Shares issued	3.6	+189%	0.1	1.2

	Latest Jun 26	FY 25	FY 24
Non-current assets
Other intangibles	7.8	7.5	7.2
Property, plant & equipment	0.1	0.1	0.1
Associates & JVs	0.5	0.5	0.5
Non-current assets	8.4	8.0	7.8
Current assets
Trade receivables	0.4	0.1	0.1
Cash	2.4	0.1	0.2
Current assets	2.8	0.2	0.4
Total assets	11.1	8.2	8.2
Current liabilities
Trade payables	0.2	0.3	0.3
Current liabilities	2.9	0.7	0.4
Non-current liabilities
Non-current liabilities	0.0	0.0	0.0
Total liabilities	2.9	0.7	0.4
Equity
Total equity	8.2	7.5	7.8

	H1 26	H2 25	H1 25	H2 24
Non-current assets
Other intangibles	7.8	7.5	6.7	7.2
Property, plant & equipment	0.1	0.1	0.1	0.1
Associates & JVs	0.5	0.5	0.5	0.5
Non-current assets	8.4	8.0	7.3	7.8
Current assets
Trade receivables	0.4	0.1	0.1	0.1
Cash	2.4	0.1	1.1	0.2
Current assets	2.8	0.2	1.2	0.4
Total assets	11.1	8.2	8.5	8.2
Current liabilities
Trade payables	0.2	0.3	0.4	0.3
Current liabilities	2.9	0.7	0.6	0.4
Non-current liabilities
Non-current liabilities	0.0	0.0	0.0	0.0
Total liabilities	2.9	0.7	0.6	0.4
Equity
Total equity	8.2	7.5	7.8	7.8

Line items extracted automatically from each results announcement; when a later report restates a period, the later figure is shown. LTM and H2 are calculated from reported periods. Check the source before relying on a figure.

Company filings. Not investment advice.