Half-Year Results

Rome Resources PLC

30 September 2026

 

The information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation

30 September 2026

Rome Resources Plc

("Rome Resources", the "Company" or the "Group")

Half-Year Results

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."

For further information, please contact:

Investor questions on this announcement We encourage all investors to share questions on this announcement via our investor hub	https://romeresources.com/link/Pb694P
Rome Resources Plc Paul Barrett, Chief Executive Officer	Tel. [phone]
SP Angel Corporate Finance LLP (Nominated Advisor and Joint Broker) Ewan Leggat Jen Clarke Devik Mehta	Tel. [phone]
CREST Corporate Broking (Joint Broker) Jerry Keen (Partner)	Tel. [phone]
Financial PR Kelsey Traynor	Tel. [phone]

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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

30 September 2026

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
CONTINUING OPERATIONS
Revenue		-	-	-
Administrative expenses		(580)	(578)	(1,359)
OPERATING LOSS		(580)	(578)	(1,359)
Finance income/(expense)		3	18	96
(LOSS) BEFORE INCOME TAX		(577)	(560)	(1,263)
Income tax		-	-	-
(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 loss for the period attributable to equity holders of the parent		(577)	(560)	(1,180)
Loss per share from continuing operations in pence per share:
Basic and diluted		(0.0079)	(0.0001)	(0.0204)

Consolidated Statement of Financial Position

for the 6 months Ended 30 June 2026

	Note	6 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 assets	5	14,762	11,762	13,246
Investment in Associate		-	-	-
Property, plant and equipment		34	10	9
TOTAL NON-CURRENT ASSETS		14,796	11,772	13,255
CURRENT ASSETS
Trade and other receivables	3	93	302	144
Cash and cash equivalents		679	1,349	1,418
TOTAL CURRENT ASSETS		772	1,651	1,562
TOTAL ASSETS		15,568	13,423	14,817
EQUITY AND LIABILITIES
Capital and reserves attributable to equity holders of the Company:
Share capital	2	25,862	24,270	25,322
Share premium	2	21,507	19,788	20,592
Share based payment reserve		19	19	19
Reverse acquisition reserve		(22,157)	(22,157)	(22,157)
Warrant reserve		1,996	2,011	1,946
Merger Reserve		4,703	4,703	4,703
Foreign currency translation reserve		(811)	(741)	(806)
Accumulated deficit		(16,675)	(15,525)	(16,098)
TOTAL SHAREHOLDER EQUITY		14,444	12,368	13,521
Non-Controlling Interest		620	620	620
TOTAL EQUITY	4	15,064	12,988	14,141
NON-CURRENT LIABILITIES
Loans	4	244	245	248
		244	245	248
CURRENT LIABILITIES
Trade and other payables	4	260	190	428
Borrowings	4	-	-	-
		260	190	428
TOTAL LIABILITIES		504	435	676
TOTAL EQUITY AND LIABILITIES		15,568	13,423	14,817

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

	Called up share capital	Share premium	Share based payment reserve	Warrant reserve	Accumulated deficit	Reverse acquisition reserve	Foreign currency translation reserve	Merger reserve	Non-controlling interest	Total equity
	£'000	£'000	£'000	£'000	£'000	£'000	£'000	£'000	£'000	£'000
Balance at 31 December 2024	24,457	19,768	43	2011	(14,989)	(22,157)	(289)	4,703	620	13,967
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 capital	1,065	889	-	-	-	-	-	-	-	1,954
Share warrants issued	-	(65)	-	65	-	-	-	-	-	-
Warrants lapsed	-	-	(24)	(130)	154	-	-	-	-	-
Balance at 31 December 2025	25,322	20,592	19	1,946	(16,098)	(22,157)	(806)	4,703	620	14,141
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 capital	540	965	-	-	-	-	-	-	-	1,505
Share warrants issued	-	(50)	-	50	-	-	-	-	-	-
Warrants lapsed	-	-	-	-	-	-	-	-	-	-
Balance at 30 June 2026	25,862	21,507	19	1,996	(16,675)	(22,157)	(811)	4,703	620	15,064

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 shares		29	-	24
Unrealised foreign exchange movements		19	(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 receivables		51	(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 received		3	18	96
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 shares		1,590	-	2,106
Costs related to issue of ordinary share capital		(114)	(210)	(205)
Net cash flow from financing activities		1,476	(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 period		1,418	4,485	4,485
Effects of exchange rate changes on the balance of cash		1	-	11
Cash and cash equivalents at end of the period		679	1,349	1,418

1. 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.

2. SHARE CAPITAL

Called up, allotted, issued and fully paid share capital

GROUP	No. Ordinary shares	No. Deferred shares	Share Capital £'000	Share Premium £'000
Total at 31 December 2024	6,071,864,607	183,688,116	24,257	19,768
28 March 2025 - shares in lieu of fees	12,661,325	-	12	19
25 November 2025 - placing	950,000,000	-	950	950
1 December 2025 - placing	102,500,000	-	103	103
Placing Warrants				(66)
Share issue costs				(182)
Total at 31 December 2025	7,137,025,932	183,688,116	25,322	20,592
12 May 2026 - placing	530,000,000	-	530	1,060
12 May 2026 - shares in lieu of fees	9,600,000	-	10	19
Share issue costs			-	(114)
Broker Warrants				(50)
Total at 30 June 2026	7,676,625,932	183,688,116	25,862	21,507

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 Price	Grant Date	Expiry Date	At 1 January 2026	Issued / (lapsed)	At 30 June 2026
1.00p	1 September 2023	5 October 2026	15,000,000	-	15,000,000
0.50p	1 September 2023	5 October 2026	5,000,000	-	5,000,000
CAD$0.26(1)	26 July 2024	9 February 2026	61,551,000	(61,551,000)	-
CAD$0.26(1)	26 July 2024	27 April 2026	9,770,000	(9,770,000)	-
CAD$0.26(1)	26 July 2024	6 November 2026	4,885,000	-	4,885,000
			96,206,000	(71,321,000)	24,885,000

⁽¹⁾    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 Price	Grant Date	Expiry Date	At 1 January 2026	Issued / (lapsed)	At 30 June 2026
0.45p	26 July 2024	26 July 2026	212,500,000	-	212,500,000
0.30p	26 July 2024	26 July 2029	578,917,878	-	578,917,878
0.35p	27 December 2024	27 December 2029	221,544,334	-	221,544,334
0.50p	30 December 2024	30 December 2027	1,200,000,000	-	1,200,000,000
0.40p	19 November 2025	25 November 2028	950,000,000	-	950,000,000
0.20p	19 November 2025	25 November 2028	57,000,000	-	57,000,000
0.40p	25 November 2025	1 December 2028	101,000,000	-	101,000,000
0.30p	5 May 2026	5 May 2031	-	24,000,000	24,000,000
			3,320,962,212	24,000,000	3,344,962,212

₍₁₎        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.

3. 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	-
VAT	36	229	46
Prepayments	57	7	98
	93	302	144

4. TRADE AND OTHER PAYABLES

CURRENT	6 months ended 30 June 2026 (unaudited)	6 months ended 30 June 2025 (unaudited)	12 months ended 31 December 2025 (audited)
	£'000	£'000	£'000
Trade creditors	215	187	313
Social security and other taxes	28	3	21
Other creditors	12	-	28
Accruals and deferred income	5	-	66
Borrowings	-	-	-
	260	190	428

NON-CURRENT	6 months ended 30 June 2026 (unaudited)	6 months ended 30 June 2025 (unaudited)	12 months ended 31 December 2025 (audited)
	£'000	£'000	£'000
Borrowings	244	245	248
	244	245	254

5. EXPLORATION AND EVALUATION ASSETS

NON-CURRENT	6 months ended 30 June 2026 (unaudited)	6 months ended 30 June 2025 (unaudited)	12 months ended 31 December 2025 (audited)
COST	£'000	£'000	£'000
Exploration and Evaluation assets	14,762	11,762	13,246
	14,762	11,762	13,246

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.

6. 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.

 

END