PR Newswire
LONDON, United Kingdom, March 20
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
bothCameroonandCanadaat 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 31December 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 15September 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 21January 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 +44 (0) 7770 225253
James Butterfield, Managing Director [email protected]
Jonathan Wearing – Chairman
Allenby Capital Limited +44 (0) 20 3328 5656
Corporate Adviser
Nick Harriss/Nick Naylor
Oberon Investments Limited
Adam Pollock/Nick Lovering +44 (0) 20 3179 5300
INCOME STATEMENT
Notes 6 months 6 months ended 12 months
ended 31 December ended 30 June
31 2024 2025
December Unaudited Audited
2025 £ £
Unaudited
£
Administrative (185,986) (162,171) (320,588)
expenses
(185,986) (162,671) (320,588)
Other operating 163,310 160,000 320,000
income
Gain/(loss) on (55,618) – (52)
revaluation of
investments
Operating (78,294) (2,671) (640)
profit/(loss)
Interest receivable 262 461 735
and similar income
(78,032) (2,210) 95
Interest payable and (2,110) (3,066) (6,184)
similar expenses
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 6 months ended 31 12 months ended 30
ended December 2024 June 2025 Audited
31 December Unaudited £
2025 £
Unaudited
£
Profit/(loss) (80,142) (5,276) (6,089)
for the period
Other – – –
comprehensive
income
Total
comprehensive
profit/(loss)
for the period (80,142) (5,276) (6,089)
BALANCE SHEET
Notes
At 31 At 31 At 30 June 2025
December December Audited
2025 2024
Unaudited Unaudited
£ £ £
Fixed Assets
Investments 3,117,205 2,744,433 3,045,967
Current Assets
Debtors and 1,580,999 1,037,092 1,221,538
prepayments
Cash at bank and 47,666 55,238 20,354
in hand
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 489,335 721,504 637,906
assets/(liabilities
)
Total assets less 3,306,540 3,465,937 3,683,873
current
liabilities
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 3 4,851,328 4,663,018 4,851,328
capital
Share premium 4 99,621 66,288 99,621
Capital redemption 4 288,625 288,625 288,625
reserve
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’ 3,580,549 3,439,861 3,660,691
funds
CASH FLOW STATEMENT
Notes 6 months 6 months ended 12 months ended
ended
31 December 2024 30 June 2025
31
December Unaudited Audited
2025
£ £
Unaudited
£
Cash flows from (99,501) (66,003) (353,179)
operating
activities
Cash flows from
investing
activities
Loans to (430,699) (471,689) (627,577)
subsidiary
undertakings
Interest received 262 461 735
Net cash from (430,437) (471,228) (626,842)
investing
activities
Cash flows from
financing
activities
New loans in 560,000 100,000 320.000
period
Loans repaid (2,750) (2,669) (14,763)
Issue of shares – 450,000 650,000
Net cash from 557,250 547,331 955,237
financing
activities
Increase/(decrease)
in cash and
cash equivalents 27,312 10,100 (24,784)
Cash and cash
equivalents at
beginning of 20,354 45,138 45,138
period
Cash and cash 47,666 55,238 20,354
equivalents at end
of period
NOTES TO THE FINANCIAL INFORMATION
1. 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 6 months 12 months
ended ended ended
31 December 31 December 30 June
2025 2024 2025
Unaudited Unaudited Audited
£ £ £
Profit/ (loss) £ (80,142) £ (5,276) £ (6,089
before tax
Weighted average 970,265,698 881,674,545 909,500,865
number of shares
for
The purpose of
basic earnings per
share
Weighted average 970,265,698 881,674,545 909,500,865
number of shares
for
the purpose of
diluted earnings
per
share
3. Share capital
At At At
31 December 2025 31 December 2024 30 June 2025
Unaudited Unaudited Audited
£ £ £
Allotted, called 4,851,328 4,663,018 4,851,328
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. Reserves
Share Capital Other Equity Retained
Total
premium redemption reserve
reserve reserve Earnings
£ £ £ £ £ £
At 1 January 23,858 288,625 (3,306,649) 4,353,063 (1,553,970)
(195,073)
2024
Loss for the – – – – (94,066)
(94,066)
period
42,430 – (985,706)
(943,276)
Loan note
conversion 3,006,282 (3,006282) –
Loan note
cancellation
Loan note – – – 9,258 –
9,258
interest
Reserves – – (174) – 174 –
transfer
At 31 66,288 288,625 (300,541) 370,333 (1,647,862)
(1,223,157)
December
2024
Loss for the – – – – (813)
(813)
period
Loan note – – 217,468 (217,468) – –
cancellation
Loan note – – – – – –
interest
Share 33,333 – – – –
33,333
capital
issued
Reserves – – (52) – 52 –
transfer
At 30 June 99,621 288,625 (83,125) 152,865 (1,648,623)
(1,190,637)
2025
Loss for the – – – – (80,142)
(80,142)
period
At 31 99,621 288,625 (83,125) 152,865 (1,728,765)
(1,270,779)
December
2025
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 (https://mb.cision.com/Public/22539/4323864/bddf5ea200f4aea6.pdf)
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The following files are available for download:
https://mb.cision.com/Public/22539/4323864/83bf78c0c0e66ae0.pdf 2026 03 16 Interims FINAL
