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Half-year Results

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Rome Resources Plc has announced its unaudited interim results for the six months ended 30 June 2026, highlighting a 45% increase in the inferred tin resource at its Kalayi project in the DRC, with grades rising to 1.47% tin, and the potential for doubling the resource in the southeast extension. The company also advanced its strategy by acquiring a critical mineral project in New Brunswick, Canada, and commenced a small-scale mining program at Kalayi to support its transition to a full Mining Licence, aiming to consolidate approximately 79% ownership. Despite administrative expenses of £580,000 for the period, the company's exploration assets increased to £14,762,000.

Half year to 30 Jun 2026NowYear beforeChange
Operating profit (£0.6m) (£0.6m)
Profit before tax (£0.6m) (£0.6m)
Net income (£0.6m) (£0.6m)
Cash from operations (£0.6m) (£1.2m)
Cash £0.7m £1.3m −49.7%

Figures as reported, converted to £ where needed – see all financials.

Full announcement

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Rome Resources (AIM: RMR), today announces its unaudited interim results for the six months ended 30 June 2026 (the "Reporting Period"). These results will shortly be made available on the Company's website at www.romeresources.com.

Paul Barrett, CEO of the Company, commented:

"The first half of 2026 was important for the Company for two key reasons, completion of a further drill programme on the Kalayi project in the mineral-rich DRC that led to a 45% increase in inferred tin resource and increase in grade, and the addition of an exciting critical mineral project in the mining-friendly jurisdiction of the Canadian province of New Brunswick. Alongside this, the commencement of our small-scale mining programme at Kalayi represents a significant step toward converting our current permit into a full Mining Licence - a prerequisite for consolidating our ownership of the project to approximately 79%. This positions us as a diversified exploration company with near-term development potential and significant upside for the future.

The Company's Kalayi project sits only 8km along trend from Alphamin's Bisie Mine, the world's highest grade tin mine and the trajectory of the project in terms of resource build per metre of drilling performed provides strong indications that grade and volumes will continue to improve with further drilling. At this stage, the results are pointing in the direction of a potential 20,000 tonnes target of tin through drilling in the south-east, and deeper drilling across other zones.

Our strategy is to position Rome for two future pathways for shareholder value. Firstly to build the value of our DRC assets to a point where they become attractive to a larger industry player, and secondly to create a high value critical minerals project in Canada. The 45% increase in Kalayi's mineral resource estimate ("MRE"), with grades rising to 1.47% tin ('Sn') and the potential to double the resource in the southeast extension, underpin the first of these objectives, alongside an increasingly compelling copper and tin story at Mont Agoma, while early results in New Brunswick lay the foundations for the second. Both of these objectives are now clearly within reach.

We will now focus on advancing the next phase of drilling at Kalayi, continuing to advance the small-scale mining programme toward a full Mining Licence, continuing discussions with potential strategic partners regarding the advancement of Bisie North. The Board remains committed to building strong foundations for future shareholder value."

Investor questions on this announcement We encourage all investors to share questions on this announcement via our investor hubhttps://romeresources.com/link/Pb694P
Rome Resources Plc Paul Barrett, Chief Executive OfficerTel. +44 (0)20 3143 6748
SP Angel Corporate Finance LLP (Nominated Advisor and Joint Broker) Ewan Leggat Jen Clarke Devik MehtaTel. +44 (0)20 3470 0470
CREST Corporate Broking (Joint Broker) Jerry Keen (Partner)Tel. +44 (0)20 3973 3678
Financial PR Kelsey TraynorTel. +44 (0)7495 470 187

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EXECUTIVE DIRECTOR'S STATEMENT

The first six months of 2026 built on the work previously undertaken on the Kalayi and Mont Agoma projects, principally by delineation drilling on the Kalayi tin deposit. This has resulted in a significant increase in inferred resource and an increase in grade. By the end of that campaign, cumulative metres drilled on Kalayi stand at 5,700 metres with an inferred resource 0.46Mt at 1.47% Sn, deriving 6.76kt contained tin, which represents a 45% increase in contained tin versus the October 2025 MRE on a like-for-like basis. Resource growth is also achieved without grade dilution, with tonnage and grade increasing from 1.33% to 1.47% Sn.

Additional drilled intercepts representing up to 10 metres true width of good tin grades were not included in the August 2026 resource update due to the current lack of delineation drilling under these intercepts. They remain primary drill targets for Kalayi. Additionally, MSA reported that they support drilling to the southeast of the main Kalayi drill footprint to investigate a southeasterly plunging ore shoot with the potential for doubling the resource. At this stage, there is realistic potential for up to 20,000 tonnes of tin at the Kalayi tin deposit.

During the period, the Company also commenced a small-scale mining programme at Kalayi, designed to support the conversion of the current Small Scale Exploitation Permit into a full Mining Licence, which would facilitate the consolidation, subject to execution of binding documentation, of Rome's ownership of the project to approximately 79%.

An airborne electromagnetic survey was acquired during the period and the interpretation of the survey data in the coming weeks is expected to identify geological trends and potentially exploration drill targets in the licence area. To date, only a small fraction of the licence area has been properly explored. The next phase of drilling at Kalayi is expected to commence in the coming months and the Company will update shareholders in due course.

Furthermore, the Company announced the existence of an important high grade tin, tungsten and indium play in the Canadian province of New Brunswick, which has led management, driven by geology and commodities, to option certain areas of the Province, in which surface sampling and shallow trenching have been carried out in the 2026 field season. It is anticipated that a 2027 season exploration programme can be finalised and announced by the end of 2026. Outcrop sampling has returned assays of up to 0.6% tin, 0.2% tungsten, 0.8% bismuth, 17ppm indium and 1.5% copper to date.

Over the next 6 months, management are committed to driving momentum and delivering on the near-term strategy of further drilling programmes. Rome Resources remains an early-stage exploration business, and we are building deliberately, with a focus on establishing strong foundations before we scale."

Paul Barrett

Chief Executive Officer & Director

Consolidated Statement of Comprehensive Income

for the 6 Months Ended 30 June 2026

6 months to 30 June 2026 (unaudited)6 months to 30 June 2025 (unaudited)12 months to 31 December 2025 (audited)
£'000£'000£'000

CONTINU I N G O P E R A T I ONS

R e v e nu e---
A d m i n i s tr a t i v e e x p e ns e s(580)(578)(1,359)
O PE R A TING L O S S(580)(578)(1,359)
Finance income/(expense)31896
(LO S S) B E FO R E I N CO M E TAX(577)(560)(1,263)
I n come t ax---
(LOSS) FOR THE PERIOD(577)(560)(1,263)

Other comprehensive income/(Loss) Items which may be reclassified to profit & loss

Foreign currency translation differences of foreign operations(5)-(517)
Total comprehensive l o s s for the period attributable to equity holders of the parent(577)(560)(1,180)

Loss p e r s h are from continuing operations in p e n ce p e r s h ar e :

Ba s ic and diluted(0.0079)(0.0001)(0.0204)
Consolidated Statement of Financial Position
for the 6 months Ended 30 June 2026
Note6 months ended 30 June 2026 (unaudited)6 months ended 30 June 2025 (unaudited)12 months ended 31 December 2025 (audited)
£'000£'000£'000
NON-CURRENT ASSETS
Exploration assets514,76211,76213,246
Investment in Associate---
Property, plant and equipment34109
TOTAL NON-CURRENT ASSETS14,79611,77213,255
CURRENT ASSETS
Trade and other receivables393302144
Cash and cash equivalents6791,3491,418
TOTAL CURRENT ASSETS7721,6511,562
TOTAL ASSETS15,56813,42314,817

EQUITY AND LIABILITIES

Capital and reserves attributable to equity holders of the Company:

Share capital225,86224,27025,322
Share premium221,50719,78820,592
Share based payment reserve191919
Reverse acquisition reserve(22,157)(22,157)(22,157)
Warrant reserve1,9962,0111,946
Merger Reserve4,7034,7034,703
Foreign currency translation reserve(811)(741)(806)
Accumulated deficit(16,675)(15,525)(16,098)
TOTAL SHAREHOLDER EQUITY14,44412,36813,521
Non-Controlling Interest620620620
TOTAL EQUITY415,06412,98814,141
NON-CURRENT LIABILITIES
Loans4244245248
244245248
CURRENT LIABILITIES
Trade and other payables4260190428
Borrowings4---
260190428
TOTAL LIABILITIES504435676
TOTAL EQUITY AND LIABILITIES15,56813,42314,817

Consolidated Statement of Changes in Equity for the Period Ended 30 June 2026

Called up share capitalShare premiumShare based payment reserveWarrant reserveAccumulated deficitReverse acquisition reserveForeign currency translation reserveMerger reserveNon-controlling interestTotal equity
£'000£'000£'000£'000£'000£'000£'000£'000£'000£'000
Balance at 31 December 202424,45719,768432011(14,989)(22,157)(289)4,70362013,967
Total comprehensive loss for the year----(1,263)----(1,263)
Foreign exchange translation------(517)--(517)
Total comprehensive income for the year----(1,263)-(517)--(1,780)
Issue of share capital1,065889-------1,954
Share warrants issued-(65)-65------
Warrants lapsed--(24)(130)154-----
Balance at 31 December 202525,32220,592191,946(16,098)(22,157)(806)4,70362014,141
Total comprehensive loss for the year----(577)----(577)
Foreign exchange translation------(5)--(5)
Total comprehensive loss for the year----(577)-(5)--(582)
Issue of share capital540965-------1,505
Share warrants issued-(50)-50------
Warrants lapsed----------
Balance at 30 June 202625,86221,507191,996(16,675)(22,157)(811)4,70362015,064
Consolidated Statement of Cash Flows
for the Period Ended 30 June 2026
6 months ended 30 June 2026 (unaudited)6 months ended 30 June 2025 (unaudited)12 months ended 31 December 2025 (audited)
£'000£'000£'000
Cash flows from operating activities
Loss before tax(577)(560)(1,263)
Adjustments for:
Finance income(3)(18)(96)
Expenses settled in shares29-24
Unrealised foreign exchange movements19(98)(166)
Net cash flow from operating activities before changes in working capital(532)(676)(1,501)
Changes in working capital:
(Decrease) in trade and other payables(168)(589)(503)
Decrease/(increase) in trade and other receivables51(24)(154)
Net cash flow used in operating activities(649)(1,241)(2,158)
Cash flow from investing activities
Purchase of plant and equipment(25)-(1)
Exploration expenditure(1,545)(1,734)(2,916)
Interest received31896
Net cash flow from investing activities(1,567)(1,716)(2,821)
Cash flow from financing activities
Proceeds arising as a result of the issue of ordinary shares1,590-2,106
Costs related to issue of ordinary share capital(114)(210)(205)
Net cash flow from financing activities1,476(210)1,901
Net (decrease) in cash and cash equivalents in the period(740)(3,136)(3,078)
Cash and cash equivalents at beginning of the period1,4184,4854,485
Effects of exchange rate changes on the balance of cash1-11
Cash and cash equivalents at end of the period6791,3491,418

ACCOUNTING POLICIES

Basis of preparation

These unaudited consolidated interim financial statements ("interim financial statements") for the six months ended 30 June 2025 have been prepared in accordance with the requirements of the AIM Rules for Companies (the "AIM Rules"). As permitted, the Group has chosen not to adopt IAS 34 'Interim Financial Statements' in preparing this interim financial information. The interim financial statements should be read in conjunction with the annual financial statements for the year ended 31 December 2025, which have been prepared in accordance with international accounting standards in accordance with the requirements of the Companies Act 2006 applicable to Companies reporting under IFRS.

Going concern

The Directors have considered the Group and Parent Company's (together "the Group") ability to continue as a going concern through review of cash flow forecasts prepared by management for the period to 30 September 2027 and a review of the key assumptions on which these are based.

Given the nature of the Company's operations (exploration and evaluation) the Company will need to raise additional capital in the future to further develop its existing portfolio of assets.

Based on the positive results achieved from the drill programmes and subsequent MRE which has recently been updated and expanded, the continued strength and Tin pricing and the supply and demand outlook for Tin, the proximity of the Group's assets to the nearby significant Alphamin tin mining assets, and the support received from shareholders in the Company's fundraising since the RTO in 2024, the Directors are confident that the Group will be able to raise further funds to continue to develop the Group's assets and build-up their value in the future. As such these results have been prepared on a going concern basis.

SHARE CAPITAL

Called up, allotted, issued and fully paid share capital

GROUPNo. Ordinary sharesNo. Deferred sharesShare Capital £'000Share Premium £'000
Total at 31 December 20246,071,864,607183,688,11624,25719,768
28 March 2025 - shares in lieu of fees12,661,325-1219
25 November 2025 - placing950,000,000-950950
1 December 2025 - placing102,500,000-103103
Placing Warrants(66)
Share issue costs(182)
Total at 31 December 20257,137,025,932183,688,11625,32220,592
12 May 2026 - placing530,000,000-5301,060
12 May 2026 - shares in lieu of fees9,600,000-1019
Share issue costs-(114)
Broker Warrants(50)
Total at 30 June 20267,676,625,932183,688,11625,86221,507

On 12 May 2026 the Company issued 530,000,000 ordinary shares at a price of £0.0030 per share for gross proceeds of £1,590,000. In addition, a further 9,600,000 ordinary shares were issued as a payment in lieu of approximately £28,800 in accrued professional fees.

Share options & warrants in issue

Share options

Exercise PriceGrant DateExpiry DateAt 1 January 2026Issued / (lapsed)At 30 June 2026
1.00p1 September 20235 October 202615,000,000-15,000,000
0.50p1 September 20235 October 20265,000,000-5,000,000
CAD$0.26 (1)26 July 20249 February 202661,551,000(61,551,000)-
CAD$0.26 (1)26 July 202427 April 20269,770,000(9,770,000)-
CAD$0.26 (1)26 July 20246 November 20264,885,000-4,885,000
96,206,000(71,321,000)24,885,000
  • As part of the RTO transaction in July 2024, certain options issued by Rome Resources Ltd were replaced with options in the Company. Exercise prices and expiry dates were unchanged, with the number of replacement options being based on the existing options adjusted by the RTO exchange ratio.

Share warrants

Exercise PriceGrant DateExpiry DateAt 1 January 2026Issued / (lapsed)At 30 June 2026
0.45p26 July 202426 July 2026212,500,000-212,500,000
0.30p26 July 202426 July 2029578,917,878-578,917,878
0.35p27 December 202427 December 2029221,544,334-221,544,334
0.50p30 December 202430 December 20271,200,000,000-1,200,000,000
0.40p19 November 202525 November 2028950,000,000-950,000,000
0.20p19 November 202525 November 202857,000,000-57,000,000
0.40p25 November 20251 December 2028101,000,000-101,000,000
0.30p5 May 20265 May 2031-24,000,00024,000,000
3,320,962,21224,000,0003,344,962,212
  • As part of the RTO transaction in July 2024, certain warrants issued by Rome Resources Ltd were replaced with warrants in the Company. Exercise prices and expiry dates were unchanged, with the number of replacement warrants being based on the existing options adjusted by the RTO exchange ratio.
  • TRADE AND OTHER RECEIVABLES
6 months ended 30 June 2026 (unaudited)6 months ended 30 June 2025 (unaudited)12 months ended 31 December 2025 (audited)
£'000£'000£'000
Other debtors-66-
VAT3622946
Prepayments57798
93302144
4. TRADE AND OTHER PAYABLES
CURRENT6 months ended 30 June 2026 (unaudited)6 months ended 30 June 2025 (unaudited)12 months ended 31 December 2025 (audited)
£'000£'000£'000
Trade creditors215187313
Social security and other taxes28321
Other creditors12-28
Accruals and deferred income5-66
Borrowings---
260190428
NON-CURRENT6 months ended 30 June 2026 (unaudited)6 months ended 30 June 2025 (unaudited)12 months ended 31 December 2025 (audited)
£'000£'000£'000
Borrowings244245248
244245254
5. EXPLORATION AND EVALUATION ASSETS
NON-CURRENT6 months ended 30 June 2026 (unaudited)6 months ended 30 June 2025 (unaudited)12 months ended 31 December 2025 (audited)
COST£'000£'000£'000
E xploration and Evaluation assets14,76211,76213,246
14,76211,76213,246

Exploration and Evaluation assets relate to two properties situated in the Walikale District of the North Kivu Province in eastern Democratic Republic of Congo, namely Exploration permits PEPM 13274 and PR 15130, collectively known as the Bisie North Project, principally a tin exploration project with secondary copper, zinc and silver, is situated only 8km along geological strike from the Alphamin Bisie project, the highest grade tin mine in the world. Tin and copper soil anomalies were identified by the Company on two NW-SE trending topographic ridges both situated within the Company's licence area. An initial drilling programme in 2023 identified several high-grade tin intercepts on both the Mont Agoma the Kalayi prospects, with significant intercepts of copper and zinc also encountered in several Mont Agoma drillholes.

Further drilling was undertaken during 2024, 2025 and into 2026 on both licences. AN MRE was issued in October 2025 with further drilling to expand the resource undertaken in late 2025 into Q1 2026, culminating in the release of an upgraded MRE in September 2026.

The most significant judgement for the Group is the assumption that exploration and evaluation at the Group's projects will ultimately lead to a commercial mining operation, which includes the assumption that any licences held will be renewed as required upon expiry. The Directors consider a number of factors when assessing whether any impairment is required in relation to these assets, including:

  • results of exploration work to date;
  • licence renewal status, with a presumption that licences will be renewed but consideration given to any possible issues in respect of the periodic renewal process;
  • the market for the underlying resources;
  • comparative valuations of similar assets as they are announced to the stock market;

Based on these factors the Directors do not believe there is an impairment in the valuation of the Group's exploration and evaluation assets.

EVENTS AFTER THE REPORTING DATE

On 22 September 2026 the Company issued warrants to subscribe for15,800,000 new ordinary shares with an exercise price of £0.0029 and an expiry date of 2 September 2031.

On 29 September 2026 the Company issued 450,000,000 new ordinary shares at a price of £0.00175 per share for gross proceeds of £787,500. The Company has also agreed to issue 25,731,429 warrants over new Ordinary Shares to the introducer of the subscription, with each warrant entitling the holder to acquire one new Ordinary Share at the Issue Price at any time in the five-year period from the date of Admission.

Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.

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