Unaudited Interim Results

ALT Resources PLC

02 June 2026

 

2 June 2026

ALT RESOURCES PLC

("ALTR" or the "Company")

Unaudited Interim Results

ALT Resources Plc (ALTR.L), a company formed to capture value accretive opportunities in the natural resources industry, announces its unaudited Interim Results for the period ended 31 December 2025.

Director's Statement

I am pleased to report on the unaudited interim financial statements to shareholders for the period ending 31 December 2025.

On 18 November 2025, the Company announced the signing of two Letters of Intent with Tartana Minerals Ltd ("Tartana"), an ASX-listed copper producer and critical minerals exploration and development company.

The Letters of Intent relate to:

1)   Proposed Financing Transaction - ALTR intends to provide financing to Tartana to support the optimisation of commercial copper sulphate production at its project located in the Chillagoe region of North Queensland.

2)   Joint Venture Formation - ALTR and Tartana propose to form a joint venture to explore and develop a portfolio of assets in Queensland with potential for tin, copper, and other critical minerals.

The proposed transactions are consistent with ALTR's stated strategy of originating differentiated royalty and streaming investments in assets that are either in production or approaching production. Royalty financing provides an alternative to conventional debt and equity funding, enabling operators to access capital while maintaining operational control and upside. In addition, the Company intends to incubate the joint venture assets, advancing resource development and monetisation while retaining a royalty interest.

Post Period

On 23 April 2026, the Company announced that it was in discussions with prospective investors to raise the necessary capital to consummate the proposed transactions and facilitate the Company's proposed admission to trading on AIM ("Admission"). In connection with the proposed fundraising, the Company announced that it had received commitments for £208,750 in advance of its planned Admission.

These commitments comprise:

1)   committed subscriptions of £100,000 to support Admission; and

2)   the issue of £108,750 unsecured convertible loan notes ("CLNs") to certain investors ("CLN holders").

The CLNs are be convertible into shares in the capital of the Company, calculated by dividing the nominal value of the CLNs by the price per share of the Company placed with new investors as part of the Admission process. If Admission has not occurred by 4 February 2027, the CLNs will need to be redeemed at their nominal value.

The Company is progressing the proposed transactions and looks forward to providing further updates.

Prad Mazumder

Director

2 June 2026

For further information:

www.altresources.co.uk.com

ALT Resources plc

Prad Mazumder

Paris Christofides

Joint-CEOs                                                     [phone] / [e-mail]

Responsibility statement

This statement is being made by the Director, Mr. Prad Mazumder, and to the best of his knowledge.

a. The financial statements, prepared in accordance with IAS 34 'Interim financial reporting' as adopted by the United Kingdom, give an accurate and fair view of the assets, liabilities, financial position, and profit or loss of the issuer, and

b. The management report includes a fair review of the business's development and performance and the issuer's position, together with a description of the principal risks and uncertainties it faces.

UNAUDITED INTERIM FINANCIAL STATEMENTS FOR ALT RESOURCES PLC FOR THE 6 MONTHS TO 31 DECEMBER 2025

Unaudited statement of comprehensive income

The statements of comprehensive income of ALT Resources PLC for the periods ended 31 December 2025 and 31 December 2024 are set out below:

			Unaudited 6 months ended 31 Dec 2025 £	Unaudited 6 months ended 31 Dec 2024 as restated             £
Administrative expenses			(67,921)	(342,047)
Operating loss			(67,921)	(342,047)
Income tax			-	-
Loss and total comprehensive loss for the period			(67,921)	(342,047)

Earnings per share
Basic loss per share	(0.1458p)	(0.7340p)
Diluted loss per share	(0.1458p)	(0.7340p)

The statement of comprehensive income has been prepared on the basis that all operations are continuing operations.

Unaudited statement of financial position

The statements of financial position of ALT Resources PLC as at 31 December 2025 and 30 June 2025 are set out below:

ASSETS Current assets	Notes	Unaudited   as at 31 Dec 2025 £	Audited  as at 30 Jun 2025 £
Trade and other receivables	2	21,284	82,803
Cash and cash equivalents		40,423	61,744
		61,707	144,547
Total assets		61,707	144,547
EQUITY
Called up share capital		93,200	93,200 492,580
Share premium account		492,580	492,580 863,856
Other reserves		863,856	863,856
Retained earnings		(1,993,510)	(1,925,589)
Total equity		(543,874)	(475,953)
LIABILITIES
Non-current liabilities
Borrowings	3	268,855	-
Current liabilities
Trade and other payables	4	306,726	359,145
Borrowings	3	30,000	261,355
Total liabilities		605,581	620,500
Total equity and liabilities		61,707	144,547

Unaudited statement of changes in equity

The statement of changes in equity of ALT Resources PLC for the 18-month period ended 31 December 2025 is set out below:

	Share capital £	Share premium account £	Other Reserves £	Retained earnings as restated £	Total £
Balance at 1 July 2024 as restated	93,200	492,580	863,856	(1,757,207)	(307,571)
Loss for the period and total comprehensive loss for the period	-	-	-	(342,047)	(342,047)
Balance at 31 December 2024 as restated	93,200	492,580	863,856	(2,099,254)	(649,618)
Profit for the period and total comprehensive income for the period	-	-	-	173,665	173,665
Balance at 30 June 2025	93,200	492,580	863,856	(1,925,589)	(475,953)
Loss for the period and total comprehensive loss for the period	-	-	-	(67,921)	(67,921)
Balance at 31 December 2025	93,200	492,580	863,856	(1,993,510)	(543,874)

Unaudited statement of cash flows

The statements of cash flows of ALT Resources PLC for the six months ended 31 December 2025 and 31 December 2024 are set out below:

		Unaudited 6 months ended 31 Dec 2025 £	Unaudited 6 months ended 31 Dec 2024 £
Cash flows from operating activities
Cash absorbed by operations		(51,321)	(139,349)
Net cash outflow from operating activities		(51,321)	(139,349)
Financing activities
Proceeds from borrowings		30,000	200,000
Net cash generated from financing activities		30,000	200,000
Net (decrease)/increase in cash and cash equivalents		(21,321)	60,651
Cash and cash equivalents at beginning of period		61,744	35,706
Cash and cash equivalents at end of period		40,423	96,357

Notes to the unaudited interim financial statements

1	Accounting policies
	Company information
	ALT Resources PLC is a public company limited by shares incorporated in England and Wales. The registered office is 13 Hanover Square, London, W1S 1HL. The Company will focus on royalty and exploration opportunities within the natural resources industry, particularly projects with identified reserves and/or resources that are near production or producing.  The Company will target opportunities that have a funding requirement to develop and/or increase production volumes.
1.1	Basis of preparation
	These unaudited interim financial statements present the results of the Company for the six months ended 31 December 2025 and the financial position as at that date, together with comparative information for the six months ended 31 December 2024 and the year ended 30 June 2025.
	The accounting policies set out in the financial statements for the period ended 30 June 2025 have been applied consistently to all periods presented in these unaudited interim financial statements.
	The unaudited interim financial statements have been prepared in accordance with the IAS 34 'Interim financial reporting' as adopted by the United Kingdom. They should be read in conjunction with the financial statements for the period ended 30 June 2025, which are prepared in accordance with IFRS as adopted by the United Kingdom and with the Companies Act 2006. The unaudited interim financial statements for the six months ended 31 December 2024 and for the six months ended 31 December 2025 do not comprise statutory accounts within the meaning of section 434 of the Companies Act 2006. The unaudited interim financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these unaudited interim financial statements are rounded to the nearest £. The unaudited interim financial statements have been prepared on the historical cost basis.
1.2         Going concern The going concern disclosure within the financial statements for the year ended 30 June 2025 included        reference to a material uncertainty in respect of the ability of the Company to continue to operate as a going concern. In preparing the 2025 financial statements, the Directors concluded that, taking into account the information that they had at the time, in their judgement it was appropriate that the Company continue as a going concern despite there being a material uncertainty that may cause significant doubt about the ability of the Company to continue to operate as a going concern. In preparing these interim financial statements, the Directors have reviewed the latest information available to them and concluded that there is no significant change in circumstances since the date of signing the 2025 financial statements. Therefore, it is their view that it is appropriate for the Company to continue as a going concern and these interim financial statements have consequently been prepared on a going concern basis.

	1.3	Significant accounting policies
		The unaudited interim financial statements have been prepared on the basis of accounting policies adopted in the financial statements for the year ended 30 June 2025 and expected to be adopted in the financial statements for the period ending 30 June 2026. Where new IFRS standards, amendments or interpretations became effective in the six months to 31 December 2025 there has been no material impact on the net assets or results of the Company.

Notes to the unaudited interim financial statements (continued)

2	Trade and other receivables
		Unaudited as at 31 Dec 2025 £	Audited as at 30 Jun 2025 £
	VAT recoverable	21,194	57,618
	Other receivables	90	19,685
	Prepayments	-	5,500
		21,284	82,803

3	Borrowings
		Unaudited as at 31 Dec 2025 £	Audited as at 30 Jun 2025 £
Borrowings held at amortised cost:
Current
Loans from parent undertaking		-	261,355
Other loans		30,000	-
		30,000	261,355
Non-current
Loans from parent undertaking		268,855	-
		298,855	261,355

At 30 June 2025, the loan from the Company's parent undertaking was contractually repayable on demand as a result of a breach of the terms of the facility agreement. Accordingly, the loan was classified as a current liability at 30 June 2025. Subsequently, the parent undertaking granted a waiver of the breach. As a result, at the interim reporting date, the loan was repayable at the earlier of 13 September 2034 and such earlier date as may be agreed between the borrower and the lender. Therefore, the loan was classified as a non-current liability at 31 December 2025.

The other loans of £30,000 relate to advance share subscriptions from a number of subscribers. The subscription agreements state that the issue of shares is conditional on Admission occurring before the Listing Date, a date which is to be communicated separately to the investors and was yet to be determined at the date of authorisation of these interim financial statements.

4	Trade and other payables
		Unaudited as at 31 Dec 2025 £	Audited as at 30 Jun 2025 £
	Current
	Trade payables	249,102	298,348
	Accruals	44,966	51,902
	Accrued interest payable	12,658	8,895
		306,726	359,145

Notes to the unaudited interim financial statements (continued)

5	Prior period adjustment
		Changes to the statement of comprehensive income

	Notes	6 months ended 31 December 2024
		Previously reported	Adjustment	As restated
		£	£	£
Other income	(i)	29,940	(29,940)	-
Administrative expenses	(i)	(371,987)	29,940	(342,047)
Loss and total comprehensive loss for the period		(342,047)	-	(342,047)

Reconciliation of changes in equity

			1 Jul 2024	31 Dec 2024
		Notes	£	£
Equity as previously reported			(99,840)	(441,887)
Adjustments to prior year
Correction of under accrual for costs		(ii)	(207,731)	(207,731)
Equity as adjusted			(307,571)	(649,618)
Analysis of the effect upon equity
Retained earnings			(207,731)	(207,731)

Notes to reconciliation

(i) Reclassification of comparatives in statement of comprehensive income

In preparing the financial statements for the year ended 30 June 2025, the directors concluded that £29,940 of other income in the interim financial statements for the period ended 31 December 2024 had been incorrectly classified. These items were reclassified against administrative expenses in the financial statements for the year ended 30 June 2025 and in the comparative period for these interim financial statements.

(ii) Under accrual for costs

A prior year adjustment was made in the financial statements for the year ended 30 June 2025 to correct for an under accrual for legal and audit costs amounting to £207,731 in total. Comparative information in these interim financial statements has been restated where necessary to ensure consistency with the corrected opening equity position. Comparative information previously restated in the annual financial statements has not been further adjusted.

Notes to the unaudited interim financial statements (continued)

6	Events after the reporting date

Subsequent to 31 December 2025, the Company announced progress in relation to its proposed transactions and admission to trading on AIM, including fundraising commitments. Further details are set out in the Post Period section of these interim financial statements. The Directors are not aware of any other material events requiring disclosure.

 

END