Unaudited Interim Results
Interim results show cash of £3.1m, operating loss of £0.9m, and progress on Red Setter gold-copper exploration.
| Half year to 30 Jun 2026 | Now | Year before | Change |
|---|---|---|---|
| Operating profit | (£0.9m) | (£0.3m) | |
| Profit before tax | (£0.9m) | (£0.3m) | |
| Net income | (£0.9m) | (£0.3m) | |
| Cash from operations | £0.1m | (£1.4m) | |
| Cash | £3.1m | £0.8m | +280.3% |
Figures as reported, converted to £ where needed – see all financials.
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Wishbone announces its interim results for the six-month period ended 30th June 2026. Shareholders are reminded that these results are unaudited and based on the Company's management accounts.
Interim Operating Highlights
On 10th February 2026, Wishbone won a contested ballot for 67km2 of mineral title on crown land, 25km north-west of Telfer, which was applied for by multiple parties.
On 16th March 2026, the Company confirmed the presence of gold and copper mineralisation within the Red Setter diorite trend, which extends for approximately 4 kilometers. Those assay results further support the potential for the project to host a large-scale mineralised system within one of Australia's most prospective gold-copper provinces.
On 9th April 2026, Wishbone signed an option for a cash payment of £100,000, to acquire the Silver Lake Project, a silver prospect in the Carnarvon Basin of Western Australia.
On 20th April 2026, a Reverse Circulation (RC) rig was mobilised from Perth to the Company's Red Setter Project in the Paterson Province of Western Australia, located 20km south-west of Greatland Gold Plc's (AIM and ASX: GGP) Telfer gold mine, and 50km east of Cyprium Metals Ltd's (ASX: CYM) Nifty copper mine.
On 26th May 2026, the Company exercised its option to acquire the Silver Lake Project. Consideration for the acquisition comprised the issue of 3,571,777 new Ordinary Shares at 29 pence each. The Silver Lake Project covers 422 km² and contains extensive silver mineralisation along a 35km structural corridor. Historic drill results include 2m at 150g/t Ag from 4m depth. The acquisition expands the Company's exploration portfolio within Western Australia.
On 11th June 2026, the Company provided an update on exploration activities at the Red Setter Project in Western Australia. The first phase of the 2026 drilling programme commenced on 5th May, with 14 RC drill holes completed for 2,182 metres. The second phase of the programme commenced on 27th May and comprises diamond drilling, with two holes completed for 687 metres. The overall programme comprises up to 25 drill holes for approximately 9,000 metres and is designed to further evaluate the gold-copper mineralisation identified at the project.
Recent RNS announcements have covered the extension of the Red Setter drill programme, associated fundraising and the encouraging results seen so far.
Interim Financial Highlights
At the end of the period under review, the accounts show that Wishbone held cash balances totalling £3,140,810 (December 2025: £3,397,895). Operating costs, excluding interest during the period, were £891,836 (June 2025: £757,319).
On 22nd April 2026, the Company raised gross proceeds of £1,100,000 in an institutional placing facilitated and arranged by Marex Financial at a placing price of 26.35 pence per share through the issue of 4,174,573 new Ordinary Shares of 0.1 pence each.
In addition, warrants have been issued to subscribers on the basis of one warrant for every two shares subscribed in the issue with a strike price of 40p per share, this being 50% above the placing price. These are exercisable within the period of two and a half years from the date of the placing.
Conclusion
The Company continues its strategy of exploration focused on its properties in Western Australia and in particular at the Red Setter Project which neighbours the Telfer Gold Mine. We look forward to bringing more good news to all of you in the coming months, creating more value for our shareholders.
In conclusion, I would like to thank you all: staff, shareholders and advisers for your hard work and support over what has been a key period for Wishbone.
Richard Poulden
Chairman
For more information on Wishbone, please visit the Company's website.
Wishbone Gold PLC
Consolidated Income Statement
for the period 1 January 2026 to 30 June 2026
| Unaudited Six Months Ended 30 June 2026 | Unaudited Six Months Ended 30 June 2025 | Audited Year Ended 31 December 2025 | |
|---|---|---|---|
| £ | £ | £ | |
| Continuing Operations | |||
| Other Income | - | 496,551 | 506,088 |
| Operating costs | (891,836) | (757,319) | (1,710,063) |
| Operating loss | (891,836) | (260,768) | (1,203,975) |
| Foreign exchange gains/(loss) | 1,996 | 841 | (3,646) |
| Loss from continuing operations - before taxation | (889,840) | (259,927) | (1,207,621) |
| Tax on loss | - | - | - |
| Loss from continuing operations | (889,840) | (259,927) | (1,207,621) |
| Loss for the financial year | (889,840) | (259,927) | (1,207,621) |
| Wishbone Gold PLC | |||
| Consolidated Statement of Financial Position | |||
| as at 30 June 2026 | |||
| Unaudited Six Months Ended 30 June 2026 | Unaudited Six Months Ended 30 June 2025 | Audited Year Ended 31 December 2025 | |
| £ | £ | £ | |
| Current assets | |||
| Trade and other receivables | 592,675 | 678,288 | 1,178,922 |
| Cash and cash equivalents | 3,140,810 | 825,981 | 3,397,895 |
| 3,733,485 | 1,504,269 | 4,576,817 | |
| Non-current assets | |||
| Other intangible assets | 11,025,332 | 5,877,914 | 8,023,553 |
| 11,025,332 | 5,877,914 | 8,023,553 | |
| Total assets | 14,758,817 | 7,382,183 | 12,600,370 |
| Current liabilities | 696,593 | 155,250 | 302,024 |
| Equity | |||
| Share capital | 37,972 | 5,181,545 | 30,227 |
| Share premium | 30,435,582 | 17,356,195 | 28,307,513 |
| Share payment reserve | 72,987 | 72,987 | 72,987 |
| Translation Adjustment | (411,419) | (411,419) | (411,419) |
| Foreign exchange reserve | (323,663) | (1,060,674) | (841,567) |
| Accumulated losses | (15,749,235) | (13,911,701) | (14,859,395) |
| Total equity and liabilities | 14,758,817 | 7,382,183 | 12,600,370 |
Wishbone Gold PLC
Consolidated Statement of Cash Flows
for the period 1 January 2026 to 30 June 2026
| Unaudited Six Months Ended 30 June 2026 | Unaudited Six Months Ended 30 June 2025 | Audited Year Ended 31 December 2025 | |
|---|---|---|---|
| £ | £ | £ | |
| Cash flows from operating activities | |||
| Loss before tax | (889,840) | (259,927) | (1,207,621) |
| Reconciliation to cash generated from operations: | |||
| Foreign exchange (gain)/loss | 36,775 | (841) | 33,106 |
| Operating cash flow before changes in working capital | (853,065) | (260,768) | (1,174,515) |
| Decrease/(increase) in receivables | 586,247 | (619,159) | (1,119,793) |
| Increase/(decrease) in payables | 394,569 | (470,833) | (324,059) |
| Cash outflow from operations | 127,751 | (1,350,760) | (2,618,367) |
| Cash flows from investing activities | |||
| (Increase)/Decrease in Assets | (2,522,646) | 79,779 | (2,054,987) |
| Net cash flow from investing activities | (2,522,646) | 79,779 | (2,054,987) |
| Cash flows from financing activities | |||
| Issue of shares for cash | 2,135,814 | 2,150,000 | 7,950,000 |
| Net cash flow from financing activities | 2,135,814 | 2,150,000 | 7,950,000 |
| Effects of exchange rates on cash and cash equivalents | 1,996 | (177,933) | (3,646) |
| Net increase/(decrease) in cash | (257,085) | 701,086 | 3,273,000 |
| Cash at bank at 1 Jan | 3,397,895 | 124,895 | 124,895 |
| Cash at bank at period end | 3,140,810 | 825,981 | 3,397,895 |
Note: The full year figures for the year ended 31 December 2025 are derived from the Company's statutory accounts for that period on which the auditors provided an unqualified report.
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