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Unaudited Interim Results

30th Sep 2025 09:25

RNS Number : 4015B
Wishbone Gold PLC
30 September 2025
 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR

 

 

 

 

30th September 2025

 

Wishbone Gold Plc

("Wishbone" or the "Company")

Index: AIM: WSBN / Sector: Natural Resources / AQSE: WSBN

 

Unaudited Interim Results for the period ending 30th June 2025

 

Wishbone announces its interim results for the six-month period ended 30th June 2025. Shareholders are reminded that these results are unaudited and based on the Company's management accounts.

 

Interim Operating Highlights

 

On 23rd January 2025, the company announced that it had signed non-binding Heads of Terms for the acquisition by Wishbone of Evrensel Global Natural Resources Ltd ("EGNR"). If completed this would have constituted a reverse merger transaction and accordingly the shares were suspended.

 

On 19th March 2025, EGNR and Wishbone agreed that it was not in the best interests of both parties to proceed with the transaction and accordingly the proposed merger did not proceed.

 

In addition, during March 2025, David Lenigas agreed to join Wishbone as a consultant.

 

On 15th April 2025, the Company paid out all of its legal liabilities and completed the reorganisation of its Western Australia subsidiary, Wishbone Gold WA Pty Ltd. The Company management team was strengthened by the appointment of Edward Mead as a director of Wishbone Gold WA Pty Ltd replacing Barrett Kosh who remains a director of Wishbone Queensland.

 

On 25th April 2025, the company announced that it was preparing to drill into the main undrilled gold target at its Red Setter Dome that was identified by Expert Geophysics Limited in September 2024. Red Setter is located 13 kilometers to the south-west of the +15Moz Telfer Gold Mine, Western Australia.

 

On 1st May 2025, the company appointed Apex Geoscience Consultants to manage the day-to-day on the ground exploration and drilling program at Red Setter.

 

On 2nd June 2025, Apex Geoscience Consultants confirmed that the key drill holes at Red Setter, which were to be deepened in order to test the main gold target at depth, appeared to be in good order for the proposed drill program. They found that the pads and collars of the key drill holes were in good condition allowing low-cost re-entry. The shallow water table identified also enabled cheaper pump utilisation and access tracks only needed minor work thus saving costs and time, with no heritage surveys being required.

 

Recent RNS announcements have covered the extension of the Red Setter drill program, associated fundraising and the extremely encouraging results seen so far.

 

Interim Financial Highlights

 

At the end of the period under review, the accounts show that Wishbone held cash balances totalling £825,981 (December 2024: £124,895). Administrative costs, excluding interest during the period, were £757,319 (June 2024: £883,157).

 

In March 2025, the Company raised £700,000 at a price of 0.1 pence per share and issued a total of 700,000,000 new Ordinary Shares of 0.1 pence each.

 

In June 2025, the Company raised gross proceeds of £1,750,000 at a placing price of 0.13 pence per share through the issue of 1,346,153,846 new Ordinary Shares of 0.1 pence each.

 

Conclusion

 

The Company continues its strategy of exploration focused on its properties in Western Australia and in particular at the Red Setter Gold Dome which neighbours the Telfer Gold Mine. We look forward to bringing more good news to all of you in the coming months, creating more value for our shareholders.

 

In conclusion, I would like to thank you all: staff, shareholders and advisers for your hard work and support over what has been a key period for Wishbone.

 

Richard Poulden

Chairman

 

For more information on Wishbone, please visit the Company's website.

www.wishbonegold.com.

END

 

For further information, please contact:

Wishbone Gold PLC

 

Richard Poulden, Chairman

 

Tel: +971 4 584 6284

Beaumont Cornish Limited

(Nominated Adviser and AQUIS Exchange Corporate Adviser)

Roland Cornish/Rosalind Hill Abrahams

Tel: +44 20 7628 3396

 

Nominated Adviser Statement

 

Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in connection with this announcement and will not regard any other person as its client and will not be responsible to anyone else for providing the protections afforded to the clients of Beaumont Cornish or for providing advice in relation to such proposals. Beaumont Cornish has not authorised the contents of, or any part of, this document and no liability whatsoever is accepted by Beaumont Cornish for the accuracy of any information, or opinions contained in this document or for the omission of any information. Beaumont Cornish as nominated adviser to the Company owes certain responsibilities to the London Stock Exchange which are not owed to the Company, the Directors, Shareholders, or any other person.

 

 

Wishbone Gold PLC

Consolidated Income Statement

for the period 1 January 2025 to 30 June 2025

Unaudited Six Months Ended 30 June 2025

Unaudited Six Months Ended 30 June 2024

Audited Year Ended 31 December 2024

£

£

£

Sales

-

-

-

Cost of sales

-

-

-

Gross profit

-

-

-

Interest Income

-

-

-

Administration expenses

-

-

-

Income/(Loss) from discontinued operations

-

-

-

Continuing Operations

Other Income

496,551

92,060

116,510

Interest Income

-

-

-

Administration expenses

(757,319)

(883,157)

(1,575,715)

Operating loss

(260,768)

(791,097)

(1,459,205)

Foreign exchange gains/(loss)

841

528

(2,964)

Finance costs

-

-

-

Loss from continuing operations - before taxation

(259,927)

(790,569)

(1,462,169)

Tax on loss

-

-

-

Loss from continuing operations

(259,927)

(790,569)

(1,462,169)

Loss for the financial year

(259,927)

(790,569)

(1,462,169)

 

Wishbone Gold PLC

Consolidated Statement of Financial Position

as at 30 June 2025

Unaudited Six Months Ended 30 June 2025

Unaudited Six Months Ended 30 June 2024

Audited Year Ended 31 December 2024

£

£

£

Current assets

Trade and other receivables

678,288

856,686

59,129

Cash and cash equivalents

825,981

13,886

124,895

1,504,269

870,572

184,024

Non-current assets

Other intangible assets

5,877,914

6,326,554

5,957,693

5,877,914

6,326,554

5,957,693

Total assets

7,382,183

7,197,126

6,141,717

Current liabilities

155,250

1,250,839

626,083

Equity

Share capital

5,181,545

3,145,161

3,366,161

Share premium

17,356,195

16,632,579

17,021,579

Share payment reserve

72,987

72,987

72,987

Translation Adjustment

(411,419)

(411,419)

(411,419)

Foreign exchange reserve

(1,060,674)

(512,847)

(881,900)

Accumulated losses

(13,911,701)

(12,980,174)

(13,651,774)

Total equity and liabilities

7,382,183

7,197,126

6,141,717

 

Wishbone Gold PLC

Consolidated Statement of Cash Flows

for the period 1 January 2025 to 30 June 2025

Unaudited Six Months Ended 30 June 2025

Unaudited Six Months Ended 30 June 2024

Audited Year Ended 31 December 2024

£

£

£

Cash flows from operating activities

Loss before tax

(259,927)

(790,569)

(1,462,169)

Reconciliation to cash generated from operations:

Foreign exchange (gain)/loss

(841)

(528)

(528,901)

Operating cash flow before changes in working capital

(260,768)

(791,097)

(1,991,070)

Decrease/(increase) in receivables

(619,159)

(19,511)

778,047

Increase/(decrease) in payables

(470,833)

342,842

(281,916)

Cash outflow from operations

(1,350,760)

(467,766)

(1,494,939)

Cash flows from investing activities

(Increase)/Decrease in Assets

79,779

(27,404)

(121,301)

Net cash flow from investing activities

79,779

(27,404)

(121,301)

Cash flows from financing activities

Issue of shares for cash

2,150,000

550,000

1,160,000

Net cash flow from financing activities

2,150,000

550,000

1,160,000

Effects of exchange rates on cash and cash equivalents

(177,933)

(59,170)

562,909

Net increase/(decrease) in cash

701,086

(4,340)

106,669

Cash at bank at 1 Jan

124,895

18,226

18,226

Cash at bank at period end

825,981

13,886

124,895

 

Note: The full year figures for the year ended 31 December 2024 are derived from the Company's statutory accounts for that period on which the auditors provided an unqualified report.

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