Strategic Minerals

SML · AIM · Basic Resources · mcap £153m · 5.4p

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Financials · LTM to 30 Jun 26

Source: results 25 Sep 26 ↗

Revenue: £2.9m
Operating profit: −£436k
Net income: −£969k
Free cash flow: −£230k
Net cash: £7.6m
Market cap: £154m
EV / EBIT: –
FCF yield: −0.1%
Price / book: 11.6×

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

Revenue: £1.2m
Operating profit: −£513k
Net income: −£740k
Cash from operations: −£223k

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

Key figures As reported

Income statement Balance sheet Cash flow

Annual Half-yearly

Standardised line items in £m, comparable across companies – figures the company reported in USD are converted to £ at the average rate of each period (balance sheets: at the date); when a later report restated a period, the later figure is shown and marked ^r (hover for the figure first reported). Italic = calculated (LTM, H2 = FY − H1); a year of other than 12 months is marked (15m). Hover a value for its source.

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

Source ↗

	6 months to 30 June 2026 (Unaudited) $’000	6 months to 30 June 2025 (Unaudited) $’000	Year to 31 December 2025 (Audited) $’000
Continuing operations
Revenue	1,594	2,001	4,231
Raw materials and consumables used.	(222)	(278)	(618)
_________ _________ _________
Gross profit	1,372	1,723	3,613
Other income	53	36	-
Overhead expenses	(1,189)	(949)	(2,440)
Amortisation	(116)	(194)	(363)
Depreciation	(20)	(12)	(44)
Interest	-	-	(1)
Share based payment	(812)	-	-
Foreign exchange gain/(loss)	22	(13)	(62)
_________ _________ _________
(Loss)/profit from operations	(690)	591	703
Lease Interest	(22)	(23)	(47)
_________ _________ _________
(Loss)/profit before taxation	(712)	568	656
Income tax (expense)/credit	(230)	(379)	(615)
_________ _________ _________
(Loss)/profit from continuing operations	(942)	189	41
_________ _________ _________
Loss from discontinued operations	(53)	(38)	(189)
_________ _________ _________
(loss)/profit for the period attributable to
Owners of the parent	(995)	151	(148)
_________ _________ _________
Other comprehensive income
Exchange gains/(losses) arising on translation of foreign operations	(443)	431	363
_________ _________ _________
Total comprehensive (loss)/income attributable to
Owners of the parent	(1,483)	582	215

Source ↗

	6 months to 30 June 2026 (Unaudited) $’000	6 months to 30 June 2025 (Unaudited) $’000	Year to 31 December 2025 (Audited) $’000
Assets
Non-current assets
Intangible Asset	-	-	-
Deferred Exploration and evaluation costs	8,571	6,757	7,572
Other Receivables	-	-	-
Property, plant and equipment	107	107	101
Right of Use Assets	1,241	852	810
_________ _________ _________
Total _________ _________ _________	9,919	7,716	8,483
_________ _________ _________
Current assets
Inventories	4	4	4
Trade and other receivables	589	308	384
Assets held for sale	143	134	134
Prepayments	62	46	78
Cash and cash equivalents	10,026	1,532	777
_________ _________ _________
Total _________ _________ _________	10,824	2,024	1,377
_________ _________ _________
Total Assets	20,743	9,740	9,680
_________ _________ _________
Equity and liabilities
Share capital	3,982	3,362	3,388
Share premium reserve	60,772	50,172	50,283
Share options reserve	1,360	5	560
Merger reserve	21,300	21,300	21,300
Foreign exchange reserve	(1,296)	(785)	(853)
Other reserves	(23,023)	(23,023)	(23,023)
Accumulated loss	(45,546)	(44,252)	(44,551)
_________ _________ _________
Total Equity	17,549	6,779	7,104

Source ↗

	6 months to 30 June 2026 (Unaudited) $’000	6 months to 30 June 2025 (Unaudited) $’000	Year to 31 December 2025 (Audited) $’000
Cash flows from operating activities
Profit/ (loss) after tax	(994)	151	(148)
Adjustments for
Depreciation of property, plant, and equipment	20	12	22
Amortisation of Right of Use asset	116	194	381
Impairment charge	53	38	189
Income Tax expense	230	379	615
Lease Interest	22	23	47
(Increase) / decrease in trade and other receivables	(175)	(13)	(89)
(Increase) / decrease in prepayments	(14)	(10)	(42)
Decrease / (increase) in trade and other payables	(98)	76	152
Increase /(decrease) in prepaid income tax	-	-	-
Income tax paid	(167)	(475)	(968)
Share based payment expense	812	-	549
Foreign exchange movements	(105)	13	9
_________ _________ _________
Net cash flows from operating activities	(300)	388	717
_________ _________ _________
Investing activities
Net cash used in discontinued operations	(63)	(38)	(189)
Purchase pf plant and equipment	(26)	(64)	(61)
Purchase of exploration and evaluation assets	(1,119)	(378)	(1,289)
_________ _________ _________
Net cash used in investing activities	(1,208)	(480)	(1,539)
_________ _________ _________
Financing activities
Net proceeds from issue of equity share capital	11,083	1,231	1,374
Lease Payments	(122)	(231)	(426)
_________ _________ _________
Net cash from financing activities	10,961	1,000	948
_________ _________ _________
Net increase in cash and cash equivalents	9,453	908	126
Cash and cash equivalents at beginning of period	777	621	621
Exchange (losses) / gains on cash and cash equivalents	(204)	3	30
_________ _________ _________
Cash and cash equivalents at end of period	10,026	1,532	777

Source ↗

	2025 $'000	2024 $'000
Revenue	4,231	4,745
Raw materials and consumables used	(618)	(846)
________ ________
Gross profit	3,613	3,899
Overhead expenses	(2,298)	(1,726)
Other expenses	(612)	(45)
________ ________
Profit from operations	703	2,128
Lease interest	(47)	(19)
________ ________
Profit before taxation	656	2,109
Income tax charge	(615)	(691)
________ ________
(Loss)/profit for the year from continuing operations	41	1,418
Loss for the year from discontinued operations	(189)	(113)
________ ________
(Loss)/profit for the period attributable to the owners of the parent	(148)	1,305
Other comprehensive income
Items that may be reclassified subsequently to profit or loss
Exchange gain arising on translation of foreign operations	363	(71)
________ ________
Total comprehensive income/(loss) attributable to the owners of the parent	215	1,234
________ ________
Basic and diluted (loss)/profit per share from total operations (cents)	(0.007)	0.065
Basic and diluted (loss)/profit per share from continuing operations (cents)	(0.002)	0.070
Basis and diluted (loss)/profit per share from discontinued operations (cents)	(0.008 )	(0.006)

Source ↗

	2025 $'000	2024 $'000
Assets
Non-current assets
Other intangible assets	-	-
Exploration and evaluation assets	7,572	5,901
Property, plant, and equipment	101	60
Right of use assets	810	1,053
________ ________
Total ________ ________	8,483	7,014
Current assets
Inventories	4	4
Trade and other receivables	384	295
Assets held for sale	134	127
Prepayments	78	36
Cash and cash equivalents	777	621
________ ________
Total ________ ________	1,377	1,063
________ ________
Total Assets	9,860	8,097
________ ________
Equity and liabilities
Share capital	3,388	2,916
Share premium	50,283	49,387
Merger reserve	21,300	21,300
Foreign exchange reserve	(853)	(1,216)
Option reserve	560	-
Warrant reserve	-	5
Other reserves	(23,023)	(23,023)
Retained earnings	(44,551)	(44,403)
________ ________
Total Equity	7,104	4,966

Source ↗

	2025 $'000	2024 $'000
Cash flows from operating activities
(Loss)/profit	(148)	1,305
Adjustments for
Depreciation of property, plant and equipment	22	18
Amortisation of right of use asset	381	334
Loss from discontinued operations	189	113
Income tax expense	615	691
Lease interest	47	19
Foreign exchange gain	9	-
Share based payment expense	549	-
Increase in trade and other receivables	(89)	(76)
Increase in prepayments	(42)	(36)
Increase/(decrease) in trade and other payables	152	(721)
Income tax paid	(968)	(223)
________ ________
Net cash generated from operating activities	717	1,424
________ ________
Investing activities
Net cash used in discontinued operations	(189)	(113)
Purchase of exploration and evaluation assets	(1,289)	(418)
Purchase of plant and equipment	(61)	-
________ ________
Net cash used in investing activities	(1,539)	(531)
________ ________
Financing activities
Proceeds from borrowings	-	62
Repayment of borrowings	-	(104)
Net share placing proceeds	1,374	-
Lease payments	(426)	(343)
________ ________
Net cash generated from/(used in) financing activities	948	(385)
Net increase in cash and cash equivalents	126	508
Cash and cash equivalents at beginning of year	621	112
Effects of exchange rate changes on the balance of cash held in foreign currencies	30	1
________ ________
Cash and cash equivalents at end of year	777	621

	LTM Jun 26	FY 25	FY 24
Revenue to operating profit
Revenue	2.9	3.2	3.7
Gross profit	2.4	2.7	3.1
Operating profit	(0.4)	0.5	1.7
Depreciation (owned assets)	–	0.0	0.0
Depreciation (right-of-use)	–	0.3	0.3
Share-based payments	(0.2)	0.4	0.0
Operating profit to net income
Finance costs	–	(0.0)	(0.0)
Profit before tax	(0.5)	0.5	1.7
Tax	(0.3)	(0.5)	(0.5)
Net income (owners)	(1.0)	(0.1)	1.0
Discontinued operations	(0.2)	(0.1)	(0.1)

	H1 26	vs H1 25	H2 25	H1 25
Revenue to operating profit
Revenue	1.2	−23%	1.7	1.5
Gross profit	1.0	−23%	1.4	1.3
Operating profit	(0.5)	n/m	0.1	0.5
Share-based payments	(0.6)	n/m	0.4	0.0
Operating profit to net income
Profit before tax	(0.5)	n/m	0.1	0.4
Tax	(0.2)	−42%	(0.2)	(0.3)
Net income (owners)	(0.7)	n/m	(0.2)	0.1
Discontinued operations	(0.0)	n/m	(0.1)	(0.0)

	LTM Jun 26	FY 25	FY 24
Operating activities
Cash from operations	0.0	0.5	1.1
Tax paid	(0.5)	(0.7)	(0.2)
Investing activities
Capex (PP&E)	(0.0)	(0.0)	0.0
Financing activities
Lease principal paid	(0.2)	(0.3)	(0.3)
Shares issued	8.3	1.0	0.0

	H1 26	vs H1 25	H2 25	H1 25
Operating activities
Cash from operations	(0.2)	n/m	0.2	0.3
Tax paid	(0.1)	−66%	(0.4)	(0.4)
Investing activities
Capex (PP&E)	(0.0)	n/m	0.0	(0.0)
Financing activities
Lease principal paid	(0.1)	−49%	(0.1)	(0.2)
Shares issued	8.2	n/m	0.1	1.0

	30 Jun 26	31 Dec 25	31 Dec 24
Non-current assets
Property, plant & equipment	0.1	0.1	0.0
Non-current assets	–	6.2	5.6
Current assets
Inventories	0.0	0.0	0.0
Trade receivables	0.4	0.3	0.2
Cash	7.6	0.6	0.5
Current assets	–	1.0	0.8
Total assets	15.7	7.2^r	6.5
Current liabilities
Trade payables	0.2	0.3	0.2
Lease liabilities, current	0.3	0.2	0.3
Current liabilities	–	1.4	1.7
Non-current liabilities
Lease liabilities, non-current	0.7	0.5	0.6
Non-current liabilities	–	0.6	0.8
Total liabilities	2.4	2.0	2.5
Equity
Total equity	13.2	5.3	4.0

	30 Jun 26	31 Dec 25	30 Jun 25	31 Dec 24
Non-current assets
Property, plant & equipment	0.1	0.1	0.1	0.0
Non-current assets	–	6.2	–	5.6
Current assets
Inventories	0.0	0.0	0.0	0.0
Trade receivables	0.4	0.3	0.2	0.2
Cash	7.6	0.6	1.1	0.5
Current assets	–	1.0	–	0.8
Total assets	15.7	7.2^r	7.1	6.5
Current liabilities
Trade payables	0.2	0.3	0.2	0.2
Lease liabilities, current	0.3	0.2	0.2	0.3
Current liabilities	–	1.4	–	1.7
Non-current liabilities
Lease liabilities, non-current	0.7	0.5	0.5	0.6
Non-current liabilities	–	0.6	–	0.8
Total liabilities	2.4	2.0	2.2	2.5
Equity
Total equity	13.2	5.3	4.9	4.0

Read automatically from each results announcement. Check the source before relying on a figure.

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Company filings. Not investment advice.