BWA Group Plc - Interim Financial Results for the Six Months to 31 December 2025
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BWA Group Plc20 Mar, 2026, 07:00 GMT
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/31
20 March 2026
BWA Group PLC
(“ BWA ” or the “ Company ”)
Interim Financial Results for the Six Months to 31 December 2025
BWA Group Plc [AQSE: BWAP ], which has mineral exploration licences in both Cameroon and Canada at various early stages of development and is quoted on London’s Aquis Growth Market, announces its unaudited financial results for the Interim Period of six months to 31 December 2025, following the announcement of its Audited Accounts for the year to 30 June made on 17 November 2025.
A copy of this announcement can be viewed on the Company’s website, http://www.bwagroupplc.com/bwa-announcements.html .
Chairman’s Statement
In the first half of its financial year, to 31 December 2025, the Company continued to invest in its mineral sands exploration permits in Cameroon and, notably, signed an Option and Earn-In Agreement with Aurum Discovery Holdings Limited and Global Acquisitions SARL to acquire a 70% equity interest in the Aracari Gold Project in Cameroon. Following the announcement of contract signature on 15 September 2025, ground truthing reconnaissance work was undertaken in November 2025. This produced 193 samples that were sent for assay in December. The results were announced on 21 January 2026, showing multiple high-grade findings in the zone next to Oriole Resources’ significant MRE of 870,000 oz. Gold is present across the 62km of the licenced areas. Further work will be undertaken in the current half year to determine the extent of deposits and to identify priority areas for drilling.
Jonathan Wearing ,
Chairman
The Board are responsible for the contents of this announcement.
Ends –
For further information:
| BWA Group PLC James Butterfield, Managing Director Jonathan Wearing – Chairman |
+44 (0) 7770 225253 enquiries@bwagroupplc.com |
| Allenby Capital Limited Corporate Adviser Nick Harriss/Nick Naylor |
+44 (0) 20 3328 5656 |
| Oberon Investments Limited Adam Pollock/Nick Lovering |
+44 (0) 20 3179 5300 |
INCOME STATEMENT
|
|
Notes |
6 months ended |
|
6 months ended 31 December 2024 |
|
12 months ended 30 June 2025 |
|
Administrative expenses |
|
(185,986) |
|
(162,171) |
|
(320,588) |
|
|
|
|
|
|
|
|
|
|
|
(185,986) |
|
(162,671) |
|
(320,588) |
| Other operating income |
|
163,310 |
|
160,000 |
|
320,000 |
| Gain/(loss) on revaluation of investments |
|
(55,618) |
|
- |
|
(52) |
|
Operating profit/(loss) |
|
(78,294) |
|
(2,671) |
|
(640) |
| Interest receivable and similar income |
|
262 |
|
461 |
|
735 |
|
|
|
(78,032) |
|
(2,210) |
|
95 |
| Interest payable and similar expenses |
|
(2,110) |
|
(3,066) |
|
(6,184) |
|
Profit/(loss) on ordinary activities |
|
|
|
|
|
|
| before and after taxation and retained |
|
|
|
|
|
|
| for the period |
|
(80,142) |
|
(5,276) |
|
(6,089) |
|
Earnings/(loss) per ordinary share: |
|
|
|
|
|
|
| Basic (pence) |
2 |
(0.008) |
|
(0.01) |
|
(0.001) |
| Diluted (pence) |
2 |
(0.008) |
|
(0.01) |
|
(0.001) |
All amounts relate to continuing activities.
STATEMENT OF OTHER COMPREHENSIVE INCOME
|
|
Notes |
6 months ended |
|
6 months ended 31 December 2024 Unaudited |
|
12 months ended 30 June 2025 Audited |
|
Profit/(loss) for the period |
|
(80,142) |
|
(5,276) |
|
(6,089) |
| Other comprehensive income |
|
- |
|
- |
|
- |
|
Total comprehensive profit/(loss) |
|
|
|
|
|
|
| for the period |
|
(80,142) |
|
(5,276) |
|
(6,089)
|
BALANCE SHEET
|
|
Notes |
|
|
|||
|
|
|
At 31December 2025 |
|
At 31December 2024 |
|
At 30 June2025 |
|
|
|
£ |
|
£ |
|
£ |
| Fixed Assets |
|
|
|
|
|
|
| Investments |
|
3,117,205 |
|
2,744,433 |
|
3,045,967 |
| Current Assets |
|
|
|
|
|
|
| Debtors and prepayments |
|
1,580,999 |
|
1,037,092 |
|
1,221,538 |
| Cash at bank and in hand |
|
47,666 |
|
55,238 |
|
20,354 |
|
|
|
1,628,665 |
|
1,092,330 |
|
1,241,892 |
| Creditors: amounts falling due |
|
|
|
|
|
|
| within one year |
|
(1,139,330) |
|
(370,826) |
|
(603,986) |
|
Net current assets/(liabilities) |
|
489,335 |
|
721,504 |
|
637,906 |
|
Total assets less current liabilities |
|
3,306,540 |
|
3,465,937 |
|
3,683,873 |
|
Creditors: amounts falling due |
|
|
|
|
|
|
| after one year |
|
(25,991) |
|
(26,076) |
|
(23,182) |
|
Net assets |
|
3,580,549 |
|
3,439,861 |
|
3,660,691 |
|
Capital and reserves |
|
|
|
|
|
|
| Called up share capital |
3 |
4,851,328 |
|
4,663,018 |
|
4,851,328 |
| Share premium |
4 |
99,621 |
|
66,288 |
|
99,621 |
| Capital redemption reserve |
4 |
288,625 |
|
288,625 |
|
288,625 |
| Other reserve |
4 |
(83,125) |
|
(300,541) |
|
(83,125) |
| Equity reserve |
4 |
152,865 |
|
370,333 |
|
152,865 |
| Retained earnings |
4 |
(1,728,765) |
|
(1,647,862) |
|
(1,648,623) |
|
Shareholders’ funds |
|
3,580,549 |
|
3,439,861 |
|
3,660,691 |
CASH FLOW STATEMENT
|
|
Notes |
6 months ended 31 December 2025 Unaudited £ |
|
6 months ended 31 December 2024 Unaudited £ |
|
12 months ended 30 June 2025 Audited £ |
|
|
|
|
|
|||
|
|
|
|
|
|||
| Cash flows from operating activities |
|
(99,501) |
|
(66,003) |
|
(353,179) |
| Cash flows from investing activities |
|
|
|
|
|
|
| Loans to subsidiary undertakings |
|
(430,699) |
|
(471,689) |
|
(627,577) |
| Interest received |
|
262 |
|
461 |
|
735 |
|
Net cash from investing activities |
|
(430,437) |
|
(471,228) |
|
(626,842) |
|
Cash flows from financing activities |
|
|
|
|
|
|
| New loans in period |
|
560,000 |
|
100,000 |
|
320.000 |
| Loans repaid |
|
(2,750) |
|
(2,669) |
|
(14,763) |
| Issue of shares |
|
- |
|
450,000 |
|
650,000 |
|
Net cash from financing activities |
|
557,250 |
|
547,331 |
|
955,237 |
|
Increase/(decrease) in cash and |
|
|
|
|
|
|
| cash equivalents |
|
27,312 |
|
10,100 |
|
(24,784) |
| Cash and cash equivalents at |
|
|
|
|
|
|
| beginning of period |
|
20,354 |
|
45,138 |
|
45,138 |
|
Cash and cash equivalents at end of period |
47,666 |
55,238 |
20,354 |
|||
NOTES TO THE FINANCIAL INFORMATION
- Status of these accounts
The interim accounts for the period from 1 July 2025 to 31 December 2025 are unaudited. The financial information set out in this statement does not constitute statutory accounts within the meaning of the Companies Act 2006.
2. Earnings per ordinary share
Basic and diluted earnings per share figures are based on the following profits / (losses) and numbers of shares:
|
|
|
6 months ended 31 December 2025 Unaudited £ |
|
6 months ended 31 December 2024 Unaudited £ |
|
12 months ended 30 June 2025 Audited £ |
|
|
|
|||||
|
|
|
|||||
| Profit/ (loss) before tax |
|
£ (80,142) |
|
£ (5,276) |
|
£ (6,089 |
| Weighted average number of shares for The purpose of basic earnings per share |
|
970,265,698 |
|
881,674,545 |
|
909,500,865 |
| Weighted average number of shares for the purpose of diluted earnings per share |
|
970,265,698 |
|
881,674,545 |
|
909,500,865 |
- Share capital
|
|
At 31 December 2025 Unaudited £ |
|
At 31 December 2024 Unaudited £ |
|
At 30 June 2025 Audited £ |
|
|
|
|
|||||
|
|
|
|||||
|
|
|
|
|
|||
| Allotted, called up and fully paid 970,265,698 ordinary shares of 0.5p (31 December 2024: 923,603,530; 30 June 2025: 970,265,698) |
|
4,851,328 |
|
4,663,018 |
|
4,851,328 |
|
4. |
Reserves |
|
|
|
|||
|
|
|
|
Capital redemption reserve |
|
reserve |
Earnings |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
£ |
|
|
At 1 January 2024
|
23,858 |
288,625 |
(3,306,649) |
4,353,063 |
(1,553,970) |
(195,073)
|
|
|
Loss for the period Loan note conversion Loan note cancellation |
- 42,430 |
- |
- - 3,006,282 |
- (985,706) (3,006282) |
(94,066) |
(94,066) (943,276) - |
|
|
Loan note interest |
- |
- |
- |
9,258 |
- |
9,258 |
|
|
Reserves transfer |
- |
- |
(174) |
- |
174 |
- |
|
|
At 31 December 2024 |
66,288 |
288,625 |
(300,541) |
370,333 |
(1,647,862) |
(1,223,157) |
|
|
Loss for the period |
- |
- |
- |
- |
(813) |
(813) |
|
|
Loan note cancellation |
- |
- |
217,468 |
(217,468) |
- |
- |
|
|
Loan note interest |
- |
- |
- |
- |
- |
- |
|
|
Share capital issued |
33,333 |
- |
- |
- |
- |
33,333 |
|
|
Reserves transfer |
- |
- |
(52) |
- |
52 |
- |
|
|
At 30 June 2025 |
99,621 |
288,625 |
(83,125) |
152,865 |
(1,648,623) |
(1,190,637) |
|
|
Loss for the period |
- |
- |
- |
- |
(80,142) |
(80,142) |
|
|
At 31 December 2025 |
99,621 |
288,625 |
(83,125) |
152,865 |
(1,728,765) |
(1,270,779) |
5. Valuation of Investments
The whole of the Company's investment in Cameroon, including loans made to BWA Resources (UK) Limited and BWA Resources (Cameroon) Limited, is carried in the balance sheet at £2,941,424. The Company's investment in Kings of the North Corp (‘KOTN’) is valued and under review at £1,362,382 plus an intercompany loan account of £286,226. The Company is also carrying £81,857 in relation to its Aracari project.
The valuation of unlisted investments requires the Directors to make judgments, estimates and assumptions that are believed to be reasonable under the circumstances, but which affect the reported fair value of those investments. The recoverability of the investments in Cameroon and KOTN is dependent on the future profitability of the underlying businesses. The Directors have reviewed the current position and, after taking into account a number of factors, believe that the valuations at 31 December 2025 remain appropriate.
2026.03.16 Interims FINAL.pdf
