IMC Exploration Group Plc - Half-year Financial Report
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC
HALF-YEARLY FINANCIAL REPORT
(“IMC” or the “Company”)
IMC is pleased to announce the Company’s unaudited half-yearly financial report for the six-month period ended
Chairman’s Statement
In the six months to
Karaberd Mining Licence
We were pleased to announce on
The licence renewal provided for underground mining and the Company has entered into contracts to enable completion of the preparatory works. These are progressing well and will enable the finalisation of the currently ongoing contract negotiations with a major underground mining company who will manage the mining project. Further developments will be announced as appropriate.
Gold Production Commenced
As outlined in the last annual report, a technical audit of the Masis gold refining plant (to 999 fineness) was conducted in
The other main challenge, previously outlined, was that the Masis plant had relatively low capacity, which we have addressed in cooperation with corporate advisors
As I write, the first 120 tonnes of concentrate have been delivered to the Masis Plant where the concentrate is added to lower grade ore already stored at the plant and the mix then processed. The concentrate along with ore already stored at the plant will be refined in batches, generating a steady stream of cashflows for the Company.
On
Other Projects in
While the Company’s primary focus over the last year has revolved around obtaining the Karaberd mining licence renewal and, along with the associates of our major investor Mineral Ventures Invest, getting the Company into a position where we can control our production of gold right up to 999 fineness, the Company did maintain contact with other parties in relation to two other projects, one being a prospective copper related project. Further announcements on any developments in relation to these two projects will be made as appropriate.
AMX Dual Listing
A dual listing on the
Irish Projects – Avoca and Wexford
Avoca PL 3849 and PL 3850
As previously reported further assessment and upgrade of the spoils and tailings was carried out on behalf of the Company by Trove Metal. This resulted in a mid-estimate increase (+650,000 tons) in the tonnage of spoils and tailings from 1,871,000 to 2,521,000 tonnes.
To align with the recent European Nature Restoration Law and the
Based on current prices of metals and based on the Mineral Resource Estimate prepared by
Wexford PL 2551
IMC was very pleased to have been able to announce on
The fact that the level of gold in pyrite analysed at Boley in PL 2551 is similar to that in pyrite phases which host gold at the 6,000,000-ounce Curraghinalt deposit in
Great interest was shown in our latest published report on PL 2551 by parties at the recent
In conclusion, IMC has achieved transformative progress across our entire portfolio, both during the period and post period end, and having our Karaberd licence renewed to 2035, we now have a very solid platform from which to accelerate our development and deliver sustained value to our shareholders.
Executive Chairman,
Statement of Directors' Responsibilities
We confirm that to the best of our knowledge:
1. this interim condensed set of financial statements has been prepared in accordance with IAS 34 'Interim Financial Reporting';
2. the condensed set of financial statements has been prepared in accordance with ASB's 2007 Statement Half-Yearly Reports;
3. the condensed set of financial statements give a true and fair view of the asset, liabilities, financial position and loss of the group and the undertakings included in the consolidation as a whole as required by DTR 4.2.4R; and
4. the interim management report includes a fair review of the information required by:
4.1. DTR 4.2.7R of the Disclosure Guidance and Transparency Rules, being an indication of important events that have occurred during the first six months of the financial year and their impact on the condensed set of financial statements; and a description of the principal risks and uncertainties for the remaining six months of the year; and
4.2. DTR 4.2.8R of the Disclosure Guidance and Transparency Rules, being related party transactions that have taken place in the first six months of the current financial year and that have materially affected the financial position or performance of the entity during that period; and any changes in the related party transactions described in the last annual report that could do so.
The directors of
https://www.imcexploration.com/corporate/board-of-directors
Principal Risk and Uncertainties
The Group's activities are carried out principally in the
Exploration Risk
Exploration and development activities may be delayed or adversely affected by factors outside the Group's control, in particular: climatic conditions, existence of commercial deposits of gold, zinc and other minerals, unknown geological conditions; remoteness of locations; actions of governments or other regulatory authorities (relating to, inter alia, the grant, maintenance or renewal of any required authorisations, environmental regulations or changes in law).
Commodity Price Risk
The demand for, and price of gold, zinc and other minerals is dependent on global and local supply and demand, actions of governments or cartels and general global economic and political developments.
Financial Risk
The main risks arising from the Group and Company's financial instruments are foreign currency risk, credit risk, liquidity risk, interest rate risk and capital risk. The board reviews and agrees policies for managing each of these risks on a regular basis.
Economic Risk
After 35 years of violent conflict, the leaders of
Like all international agreements, they are dependent on the goodwill of the parties involved and adherence to the terms of the agreement. This has been a volatile region in the past and these consolidated financial statements do not reflect the potential future impact of any adverse occurrences relating to the
IMC Exploration Group PLC
Consolidated Statement of Comprehensive Income
For the period 1st July 2025 to 31 December 2025
Dec’25 Jun’25
Revenue 32,000 66,000
Cost of Sales (164,771) (366,694)
Gross Profit (132,771) (300,694)
Administration Costs (742,344) (1,330,816)
Other Income 145,000 -
Operating Profit /(loss) for the period (730,115) (1,631,510)
Interest Payable 29,086 44,701
Gain On disposal - 11,000
Foreign Exchange Gain/(Loss) 775,000 2,000
Expected Credit Loss - (260,250)
Translation Reserve (673,000) (657,835)
Profit / (Loss) for period before tax (599,029) (2,491,894)
Income tax expenses (267,421) (300,935)
Total comprehensive loss for the period (866,450) (2,792,829)
Loss attributable to:
Equity holders of the Company (866,450) (2,792,829)
Total Comprehensive Loss attributable to:
Equity holders of the Company (866,450) (2,792,829)
Earnings per share
From continuing operations
Basic and Diluted profit per share (cent) (0.11) (0.40)
IMC Exploration Group PLC Consolidated Statement of Financial Position As at31st December 2025 Dec’25 Jun’25 Assets Intangible 3,348,611 3,492,455 assets Property, plant and 90,000 98,000 equipment Total Non-Current 3,438,611 3,590,455 Assets Current Assets Inventory 402,000 345,000 Trade and other 3,552,786 3,447,914 receivables Cash and cash 67,000 8,000 equivalents Total Current 4,021,786 3,800,914 Assets Total Assets 7,460,397 7,391,369 Equity Share Capital 818,771 736,990 Share premium 9,493,831 8,878,158 & Capital Retained (8,015,633) (7,149,183) deficit Attributable to owners of 2,296,968 2,465,966 the Company Total Equity 2,296,968 2,465,966 Liabilities – Current Trade and 2,216,943 1,792,709 other payables Total Liabilities-Cur 2,216,943 1,792,709 rent Liabilities – non-current Loan & 638,127 1,175,994 Borrowings Shareholder 1,828,000 1,468,000 Contribution Provision - 28,000 Deferred tax 480,359 460,701 liability Total Liabilities-Non 2,946,486 3,132,695 -Current Total Equity and 7,460,397 7,391,370 LiabilitiesIMC Exploration Group PLC Consolidated Statement of Changes in Equity For the period1st July 2025 to31 December 2025 Share Capital € Share Premium € Retained Losses € Total € Balance at 30 723,191 8,818,818 (4,356,354) 5,185,654 June 2024 Total comprehensive income for the period Loss for the - - (2,792,829) (2,792,829) period Total comprehensive - - (2,792,829) (2,792,829) income for the period Transactions with owners, recorded directly in equity contributions and distributions to owners Shares issued 13,800 59,340 - 73,140 Balance at 30 736,991 8,878,158 (7,149,183) 2,465,966 June 2025 Total comprehensive income for the period Loss for the - - (866,450) (866,450) period Total comprehensive - - (866,450) (866,450) income for the period Transactions with owners, recorded directly in equity contributions and distributions to owners Shares issued 81,780 615,673 - 697,453 Balance at 31 818,771 9,493,831 (8,015,633) 2,296,968 December 2025
IMC Exploration Group PLC Consolidated Statement of Cash Flows As at31st December 2025 Dec’25 Jun’25 Cash flows from operating activities (Loss) for the year (224,448) (2,491,894) Adjustments for: Amortisation & Depreciation 172,000 356,166 Bad Debts - 257,841 Gain on Disposal of Fixed Asset - (11,000) Foreign Exchange translation difference (92,000) (289,941) Taxation - 661,935 Cash from operations before changes in working (144,448) (1,516,893) capital Movement in trade and other receivables (704,702) (84,192) Movement in trade inventories (57,000) 963,839 Movement in trade and other payables (147,712) 39,000 Net cash flow from operating activities (1,053,862) (598,246) Taxation paid - (407,000) Cash flows from investing activities Capital Expenditure (7,500) (640,000) Net cash (used in) investing activities (7,500) (640,000) Cash flows from financing activities Proceeds from the issue of new shares 81,780 73,140 Proceeds from loans or borrowings 1,022,673 1,591,272 Finance income/(expense) - - Net cash generated by financing activities 1,104,453 1,664,412 Movement in cash and cash equivalents 43,091 19,166 Cash and cash equivalents at beginning of period (10,593) (29,759) Cash and cash equivalents at end of year 32,498 (10,593)
REGULATORY ANNOUNCEMENT ENDS.
Enquiries:
Eamon O’Brien
+353 87 6183024
+353 85 233 6033
+44 (0)7771 871 847
+44 (0)7776 302 228
+44 (0)203 934 6632
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