Wrap Text
Results for the half-year ended 31 December 2025
Europa Metals Ltd
(Incorporated and registered in Australia and registered as
an external company in the Republic of South Africa)
(Registration number 4459850)
(External company registration number 2011/116305/10)
Share code on the JSE: EUZ
ISIN: AU0000090060
("Europa Metals" or "the Company" or "the Group")
Results for the Half-Year Ended 31 December 2025
Europa Metals is pleased to announce its unaudited results for the half-year ended 31 December 2025 (the
"Half-Year Financial Report").
Please see below extracts from the Half-Year Financial Report, being the:
- Review and results of operations
- Consolidated Statement of Profit or Loss and Other Comprehensive Income
- Consolidated Statement of Financial Position
- Consolidated Statement of Changes in Equity
- Consolidated Statement of Cash Flows
A copy of the full Half-Year Financial Report is available on the Company's website at www.europametals.com
and on the JSE's website at https://senspdf.jse.co.za/documents/2026/jse/isse/euze/HY2025.pdf.
Any investment decisions by investors and/or shareholders should be based on consideration of the full Half-
Year Financial Report as the information in this announcement does not provide all of the details.
Salient financial information required to be disclosed under the JSE Listings Requirements:
6 months ended 31 6 months ended 31
December 2025 December 2024
$ $
Total comprehensive profit/(loss) for the year 137 153 4 834 803
Basic profit/(loss) per share (cents) 0.13 4.95
Headline profit/(loss) per share (cents) 0.13 4.95
Diluted profit/(loss) per share 0.13 4.85
Net assets 3 378 559 3 241 406
No dividend has been paid or declared for the half year ended 31 December (2024 Nil).
Unqualified review opinion
BDO Audit (Pty) Limited has issued an unqualified review opinion on the Half-Year Financial Report. The
Half-Year Financial Report and the auditor's review report thereon may be viewed on the Company's
website www.europametals.com. The auditor's report does not necessarily report on all the information
contained in this announcement. Shareholders are therefore advised that in order to obtain a full
understanding of the nature of the auditor's engagement, they should obtain a copy of the auditor's review
report together with the accompanying financial information.
Short-form announcement
This short-form announcement is the responsibility of the Directors of the Company and is a summary of
the information contained in the full Half-Year Financial Report which is available on the Company's website
at www.europametals.com.
For further information on the Company, please visit www.europametals.com or contact:
Europa Metals Ltd
Dan Smith, Non-Executive Director and Company Secretary (Australia)
T: +61 8 9486 4036
E: dsmith@europametals.com
Myles Campion, Executive Chairman and acting CEO (UK)
E: mcampion@europametals.com
Questco Corporate Advisory Proprietary Limited (JSE Sponsor)
Amanda Mahlunge
T: +27 84 287 2718
31 March 2026
Europa Metals Ltd is a company incorporated in Australia and limited by shares, which are publicly traded on the AltX of
the Johannesburg Stock Exchange.
Extracts from the Company's unaudited Half-Year Financial Report are set out below:
Review and results of operations
Europa Metals is a mineral exploration company.
Operating Results
For the half-year period ended 31 December 2025, the Group recorded a net profit after tax of $137,153 (31
December 2024: net profit of $4,834,803).
Toral Lead-Zinc-Silver Project, Spain
On 13 November 2024, the Company announced that it had completed its previously announced disposal of
100% of the issued and outstanding shares of Europa Metals Iberia S.L. ("EMI"), the Spanish subsidiary holding
the Toral Zn-Pb-Ag Project (the "Toral Project") in the Leon Province, Northern Spain to Denarius Metals Corp.
(Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals").
In accordance with the agreement with Denarius Metals, as announced on 17 September 2024, Europa was
issued 7,000,000 common shares in Denarius Metals, which are subject to a hold period ending on March 13,
2025. The former Option and Loan Agreements dated 22 November 2022 between Europa and the Denarius
Metals were terminated on closing of the transaction.
Corporate
Marula Mining Plc
Further to the Company's announcement of 6 November 2025, on 30 January 2026 the Company announced
that despite the parties' best efforts to advance the Proposed Marula Transaction, it had become evident that
completion is unlikely to take place in the timeframe required and as such discussions have ceased.
The Company will continue to pursue other opportunities.
AIM Delisting
Europa Metals became an AIM Rule 15 cash shell ("AIM Cash Shell") following completion of the disposal of its
main undertaking on 13 November 2024. As a result of not announcing a reverse takeover within six months of
becoming an AIM Cash Shell, trading in the Company's shares was suspended on AIM on 14 May 2025, in
accordance with the AIM Rules for Companies (the "AIM Rules").
Despite efforts it has not been possible for the Company to complete an acquisition, or acquisitions, which
constitutes a reverse takeover under AIM Rule 14 since the Company becoming an AIM Cash Shell and,
accordingly, admission of Europa's shares to trading on AIM was cancelled at 7.00 a.m. on 2 February 2026
("Cancellation").
Shareholder Meetings
On 16 January 2026, the Company held its Annual General Meeting, whereby all resolutions were duly approved
by Shareholders by way of a poll.
Events subsequent to the reporting date
On 2 February 2026, the Company was delisted from AIM.
On 13 February 2026, the Company completed its £1,023,099 (AUD$1,986,506) capital return to Shareholders,
as approved at the Company's 2025 Annual General Meeting.
No other matters or circumstances have arisen since the reporting date that may significantly affect the
operations of the Company, the results of those operations, or the Company's state of affairs in future financial
years.
Daniel Smith
Director
31 March 2026
Consolidated Statement of Profit or Loss and Other Comprehensive Income
6 months to 6 months to
31 December 31 December
2025 2024
Note $ $
Other Income 2 14,600 -
Other gains 2 - 5,575,725
14,600 5,575,725
Fair value gain/(loss) on financial assets 3 620,988 (264,279)
Exploration expenditure - -
Foreign exchange (loss)/gain (46,191) (7,436)
Other expenses 2 (452,244) (469,207)
Profit before income tax 137,153 4,834,803
Income tax (expense)/benefit - -
Net profit after income tax 137,153 4,834,803
Other comprehensive income
Items that may be reclassified subsequently to profit or
loss:
Net exchange (loss)/gain on translation of foreign operation - -
Other comprehensive (loss)/profit for the period, net
of tax - -
Total comprehensive income for the period 137,153 4,834,803
Net profit/(loss) for the period attributable to
shareholders of the Company: 137,153 4,834,803
Total comprehensive income/(loss) for the period
attributable to shareholders of the Company: 137,153 4,834,803
Profit/(loss) per share attributable to the ordinary equity holders of the Company
Cents per Cents per
Profit/(loss) per share share share
- basic profit/(loss) per share 0.13 4.95
- diluted profit/(loss) per share 0.13 4.85
The above Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in
conjunction with the accompanying notes in the full Half-Year Financial Report.
*Headline and dilutive headline profit/(loss) per share is identical to the basic and diluted profit/(loss) per share
included in the table above for the respective periods.
Consolidated Statement of Financial Position
As at 31 December 2025
31 December 30 June
2025 2025
Note $ $
Current Assets
Cash and short-term deposits 2,700,068 1,403,949
Trade and other receivables 20,315 69,155
Financial assets at FVTPL 3 725,286 2,090,640
Total Current Assets 3,445,669 3,563,744
Total Assets 3,445,669 3,563,744
Current Liabilities
Trade and other payables 4 67,110 113,141
Borrowings 5 - 209,197
Total Current Liabilities 67,110 322,338
Total Liabilities 67,110 322,338
NET ASSETS 3,378,559 3,241,406
Equity
Contributed equity 6 49,662,517 49,662,517
Accumulated losses (46,326,587) (46,463,740)
Reserves 42,629 42,629
TOTAL EQUITY 3,378,559 3,241,406
The above Consolidated Statement of Financial Position should be read in conjunction with the
accompanying notes in the full Half-Year Financial Report.
Consolidated Statement of Changes in Equity
For the half-year from 1 July 2025 to 31 December 2025
Employee
Share
Issued Accumulated Incentive Option Total
Capital Losses Reserve Reserve Equity
$ $ $ $ $
At 1 July 2024 49,562,236 (52,856,850) 491,578 2,809,011 5,975
Profit/(Loss) for the period - 4,834,803 - - 4,834,803
Other comprehensive income (net of tax) - - - - -
Total comprehensive income/(loss) (net of
tax) - 4,834,803 - - 4,834,803
Transaction with owners in their capacity as
owners
Expiry of options - 3,257,960 (491,578) (2,766,382) -
At 31 December 2024 49,562,236 (44,764,087) - 42,629 4,840,778
At 1 July 2025 49,662,517 (46,463,740) - 42,629 3,241,406
Profit/(Loss) for the period - 137,153 - - 137,153
Other comprehensive income (net of tax) - - - - -
Total comprehensive income/(loss) (net of
tax) - 137,153 - - 137,153
Transaction with owners in their capacity as
owners
At 31 December 2025 49,662,517 (46,326,587) - 42,629 3,378,559
The above Consolidated Statement of Changes in Equity should be read in conjunction with the accompanying notes in the full Half-Year Financial Report.
Consolidated Statement of Cash Flows
For the period 1 July 2025 to 31 December 2025
6 months to 31 6 months to 31
December 2025 December 2024
$ $
Cash flows from operating activities
Receipts 14,600 -
Payments to suppliers and employees (404,843) (183,680)
Net cash flows used in operating activities (390,243) (183,680)
Cash flows from investing activities
Proceeds from sale of equity investments 1,986,342 -
Net cash flows from investing activities 1,986,342 -
Cash flows from financing activities
Proceeds from borrowings - 224,161
Repayment of borrowings (253,790) -
Net cash flows from/(used in) financing activities (253,790) 224,161
Net increase / (decrease) in cash and cash
equivalents 1,342,309 40,481
Cash and cash equivalents at beginning of period 1,403,949 252,075
Effect of foreign exchange on cash and cash equivalents (46,190) 10,754
Cash and cash equivalents at end of the period 2,700,068 303,310
The above Consolidated Statement of Cash Flows should be read in conjunction with the accompanying notes
in the full Half-Year Financial Report.
Date: 31-03-2026 10:35:00
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