Red Rock Resources PlcLSE: RRR

Half-year Financial Report

Apr 1, 2026 at 6:00 AM UTC

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1 April 2026

Red Rock Resources plc

Unaudited Half-Yearly Results for the Six Months Ended

31 December 2025

Red Rock Resources plc ("Red Rock" or "the Company"), the natural resources investment, exploration, and development company with interests in manganese, gold, copper and cobalt, and other materials, announces its half-yearly results for the six months ended 31 December 2025.

Chairman's Statement

Dear Shareholders,

The short period that elapses between the publication of the Final Results, which takes some notice of events between 30th June 2025 and 31st December 2025, means that there may not be much new to say, especially in relation to corporate matters such as arbitration and litigation.

Early in the New Year the Company bade farewell to one of its directors. Sam Quinn has given invaluable support during a period where we had to maintain our stability and remain resolute in some of the more difficult jurisdictions in which we operate, and we are grateful to him for his steadfast support.

The Company has during the period since December 2025 conducted trips to the Democratic Republic of Congo and has worked on progressing the renewal of its gold licences in Kenya.

DRC Matters

The social housing joint venture, connected with the Company's plans for mining and its proposed tax regime, is a matter on which progress announcements have been made for over a year

The first concrete project under this head was that being entered into with the Ministère du Developpement Rural (Ministry of Rural Development). This has now been through a full tender process, with the extensive tender documents now reviewed by the Direction Générale du Contrôle des Marchés Publics (General Directorate of Public Procurement Control) and other regulators, and our partner can now accept payment from the Ministry for the establishment of the first three factories to manufacture social housing units.

This has been a process involving much hard work and follow up but establishes the JV as a provider in this space. The financial implications of this first contract with the Ministry will be set out in further presentation material, but the annual housebuilding capacity implied in this first contract would by unit numbers place the contractor among the top four housing providers if it was in the UK.

The Ministry as part of its contribution also provides the sites on which the units will be constructed, the first three of which have been identified.

In relation to the litigation/arbitration for compensation for the sale unauthorized by the Company of its most significant DRC asset, the Company has kept the market abreast of progress over the years. What should have been a simple process in what should have been an open-and-shut case has extended for too long. The Company is now at the Supreme Court (Cour de Cassation) and although it has with extremely good reason placed reliance on the release of the judgment during 2025, delays have appeared from day to day. There is progress in that originally the delays seemed to be the result of manoeuvres by other parties, but now it appears to be only inefficiency that is left, behind which perhaps lies some human frailty.

It has been the case for a while that the Company has expected release of the judgment imminently, and it may seem perverse that this continues to be said when the release fails to appear on the expected day. However, when the formula has been repeated it has always been on good, recent, and credible authority. It remains the case currently that a publication of the judgment is expected. The State mining company holds the funds and awaits the judgment of the court as to the correct payees, so that a judgment can be followed without undue delay by payment.

Review of potential licences continues.

Kenya

The Company has been engaged in a lengthy process of renewal, and has reached an indicative agreement, which now needs to pass through the final stages.

Board

As noted above, after the period under review, Sam Quinn resigned as Non-Executive Director. The Board is conducting a search for a suitable replacement Non-Executive Director to strengthen its independent oversight, and expects to make an appointment in due course.

Other

The Company retains interests in Burkina Faso, Australia, and Ivory Coast, the latter of which are in a process of sale. In connection with the Australian gold assets, the Company has a final payment to make to buy out the minorities, and has agreed an extension for this payment.

Investee company Elephant Oil Inc has been negotiating with new investors, and developments which would enhance the value of the Company's holding are hoped for in the near term.

The Company expects sales of assets and progress in the DRC to support the financial position, which remains stretched while waiting for these developments, as set out in the December results.

Andrew Bell

Chairman

31 March 2026

For further information, please contact:

Andrew Bell 0207 747 9990 Chairman Red Rock Resources Plc

Roland Cornish/ Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited

Bob Roberts 0203 8696081 Broker Clear Capital Corporate Broking

This announcement contains inside information for the purposes of Article 7 of Regulation 2014/596/EU, which is part of domestic UK law pursuant to the Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310) and is disclosed in accordance with the Company's obligations under Article 17.

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

Consolidated statement of financial position as at 31 December 2025

	Notes	31 December 2025	31 December 2024	30 June 2025
		Unaudited, £'000	Unaudited, £'000	Audited, £'000
ASSETS
Non-current assets
Investments in associates and joint ventures		1,030	1,030	1,030
Financial instruments	8	334	736	334
Exploration assets	9	13,457	13,707	13,423
Mineral tenements		548	501	525
Property, Plant & Equipment		17	19	17
Non-current receivables		1,096	2,560	2,096
Total non-current assets		16,482	18,553	17,425
Current assets
Cash and cash equivalents		223	6	18
Loans and other receivables		235	846	287
Total current assets		458	852	305
TOTAL ASSETS		16,940	19,405	17,730
EQUITY AND LIABILITIES
Equity attributable to owners of the parent
Called up share capital	10	3,637	3,281	3,428
Share premium account		34,885	34,206	34,640
Other reserves		859	1,385	853
Retained earnings		(31,426)	(26,871)	(29,697)
Total equity attributable to owners of the parent		7,955	12,001	9,224
Non-controlling interest		(94)	(152)	(92)
Total equity		7,861	11,849	9,132
LIABILITIES
Non-current liabilities
Borrowings	11	1,055	1,061	1,003
Total non-current liabilities		1,055	1,061	1,003
Current liabilities
Trade and other payables		2,729	2,800	2,944
Short term borrowings	11	5,295	3,695	4,651
Total current liabilities		8,024	6,495	7,595
TOTAL EQUITY AND LIABILITIES		16,940	19,405	17,730

The accompanying notes form an integral part of these financial statements.

Consolidated statement of income

for the period ended 31 December 2025

	Notes	6 months to 31 December 2025	6 months to 31 December 2024
		Unaudited, £'000	Unaudited, £'000
Administrative expenses	4	(543)	(623)
Project development costs	5	(36)	(96)
Other project costs		(406)	-
Exploration expenses		(111)	(56)
Foreign exchange gain/(loss)		(47)	31
Finance income/(expenses), net	6	(586)	(804)
(Loss)/profit for the period		(1,729)	(1,548)
Tax credit		-	-
(Loss)/profit for the period	7	(1,729)	(1,548)
(Loss)/profit for the period attributable to:
Equity holders of the parent		(1,729)	(1,548)
Non-controlling interest		-	-
		(1,729)	(1,548)
(Loss)/profit per share
(Loss)/profit per share - basic, pence	3	(0.02)	(0.03)
(Loss)/profit per share - diluted, pence	3	(0.02)	(0.03)

The accompanying notes form an integral part of these financial statements.

Consolidated statement of comprehensive income for the period ended 31 December 2025

	6 months to 31 December 2025	6 months to 31 December 2024
	Unaudited, £'000	Unaudited, £'000
(Loss) /profit for the period	(1,729)	(1,548)
Unrealised foreign currency gain arising upon retranslation of foreign operations	4	183
Total comprehensive income/(loss) for the period	(1,725)	(1,365)
Total comprehensive income/(loss) for the period attributable to:
Equity holders of the parent	(1,723)	(1,363)
Non-controlling interest	(2)	(2)
	(1,725)	(1,365)

The accompanying notes form an integral part of these financial statements.

Consolidated statement of changes in equity for the period ended 31 December 2025

The movements in equity during the period were as follows:

	Share capital	Share premium account	Retained earnings	Other reserves	Total attributable to owners of the Parent	Non- controlling interest	Total equity
Unaudited	£'000	£'000	£'000	£'000	£'000	£'000	£'000
As at 30 June 2025 (audited)	3,428	34,640	(29,697)	853	9,224	(92)	9,132
Changes in equity for the six- month period ending 31 December 2025
Loss for the period	-	-	(1,729)	-	-	-	(1,729)
Unrealised foreign currency gains on translation of foreign operations	-	-	-	6	6	(2)	4
Total comprehensive income/(loss) for the period	-	-	(1,729)	6	(1,723)	(2)	(1,725)
Transactions with shareholders
Issue of shares	209	245	-	-	454	-	454
Total transactions with shareholders	209	245	-	-	454	-	454
As at 31 December 2025 (unaudited)	3,637	34,885	(31,426)	859	7,955	(94)	7,861
As at 30 June 2024 (audited)	3,143	33,804	(25,323)	1,193	12,817	(150)	12,667
Changes in equity for the six- month period ending 31 December 2024
Loss for the period	-	-	(1,548)	-	(1,548)	-	(1,548)
Unrealised foreign currency gains on translation of foreign operations	-	-	-	183	183	(2)	181
Total comprehensive income/(loss) for the period	-	-	(1,548)	183	(1,365)	(2)	(1,367)
Transactions with shareholders
Issue of shares	138	402	-	-	540	-	540
Warrants issued in the year	-	-	-	9	9	-	9
Total transactions with shareholders	138	402	-	9	549	-	549
As at 31 December 2024 (unaudited)	3,281	34,206	(26,871)	1,385	12,001	(152)	11,849

	FVTOCI financial assets reserve	Foreign currency translation reserve	Share- based payment reserve	Warrants reserve	Other Reserve	Total other reserves
Unaudited	£'000	£'000	£'000	£'000	£'000	£'000
As at 30 June 2025 (audited)	-	116	230	1,155	(648)	853
Changes in equity for six months ended 31 December 2025
Unrealised foreign currency loss on translation of foreign operations	-	6	-	-	-	6
Total other comprehensive income for the period	-	122	230	1,155	(648)	859
Transactions with shareholders
Warrants issued in the year	-	-	-	-	-	-
Total transactions with shareholders	-	-	-	-	-	-
As at 31 December 2025 (unaudited)	-	122	230	1,155	(648)	859
As at 30 June 2024 (audited)	402	118	230	1,091	(648)	1,193
Changes in equity for six months ended 31 December 2024
Unrealised foreign currency loss on translation of foreign operations	-	183	-	-	-	183
Total other comprehensive income for the period	-	183	-	-	-	183
Transactions with shareholders
Grant of warrants	-	-	-	9	-	9
Total transactions with shareholders	-	-	-	9	-	9
As at 31 December 2024 (unaudited)	402	301	230	1,100	(648)	1,385

Consolidated statement of cash flows for the period ended 31 December 2025

	6 months to 31 December 2025	6 months to 31 December 2024
	Unaudited, £'000	Unaudited, £'000
Cash flows from operating activities
(Loss)/profit before tax	(1,729)	(1,548)
Decrease/(Increase) in receivables	52	(39)
Increase/(Decrease) in payables	(215)	64
Share-based payments	-	8
Finance costs/income, net	586	796
Equity settled transactions	30	-
Currency adjustments	(9)	(7)
Net cash outflow from operations	(1,285)	(726)
Cash flows from investing activities
Payments for capitalised exploration costs	(35)	(132)
Proceeds from sale of investments	1,000	-
Net cash (outflow)/inflow from investing activities	965	(132)
Cash flows from financing activities
Proceeds from issue of shares	424	251
Interest paid	-	-
Proceeds from new borrowings	345	605
Repayments of borrowings	(250)	(32)
Net cash inflow/(outflow) from financing activities	519	824
Net increase in cash and cash equivalents	199	(34)
Cash and cash equivalents at the beginning of period	18	38
Exchange gains on cash and cash equivalents	6	2
Cash and cash equivalents at end of period	223	6

1	Company and group

As at 31 December 2025, 30 June 2025 and 31 December 2024 the Company had one or more operating subsidiaries and has therefore prepared full and interim consolidated financial statements respectively.

The Company will report again for the year ending 30 June 2026.

The financial information contained in this half yearly report does not constitute statutory accounts as defined in section 435 of the Companies Act 2006. The financial information for the year ended 30 June 2025 has been extracted from the statutory accounts for the Group for that year. Statutory accounts for the year ended 30 June 2025, upon which the auditors gave an unqualified audit report which did not contain a statement under Section 498(2) or (3) of the Companies Act 2006, have been filed with the Registrar of Companies.

2	Accounting Polices

Basis of preparation

The consolidated interim financial information has been prepared in accordance with IAS 34 'Interim Financial Reporting.' The accounting policies applied by the Group in these condensed consolidated interim financial statements are the same as those applied by the Group in its consolidated financial statements as at and for the year ended 30 June 2025, which have been prepared in accordance with IFRS.

3	Earnings per share
	The following reflects the loss and number of shares data used in the basic and diluted loss per share computations:
	6 months to 31 December 2025		6 months to 31 December 2024
		Unaudited	Unaudited
	Profit/(loss) attributable to equity holders of the parent company, Thousand pounds Sterling	(1,729)	(1,548)
	Weighted average number of Ordinary shares of £0.0001 in issue, used for basic EPS	7,267,965,863	4,827,628,410
	Effect of all dilutive potential ordinary shares from potential ordinary shares that would have to be issued, if all loan notes convertible at the discretion of the noteholder converted at the beginning of the period	-	-
	Weighted average number of Ordinary shares of £0.0001 in issue, including potential ordinary shares, used for diluted EPS	7,267,965,863	4,827,628,410
	Profit/(loss) per share - basic, pence	(0.02)	(0.03)
	Profit/(loss) per share - diluted, pence	(0.02)	(0.03)

At 31 December 2024 and 31 December 2025, the effect of the following the instruments is anti-dilutive, therefore they were not included into the diluted earnings per share calculation.
6 months to 31 December 2025		6 months to 31 December 2024
	Unaudited	Unaudited
Share options granted to employees - not vested and/or out of the money	-	21,000,000
Number of warrants given to shareholders as a part of placing equity instruments - out of the money	1,772,976,024	741,450,002
Total number of contingently issuable shares that could potentially dilute basic earnings per share in future	1,772,976,024	762,450,002
Total number of contingently issuable shares that could potentially dilute basic earnings per share in future and anti- dilutive potential ordinary shares that were not included into the fully diluted EPS calculation	1,776,976,024	762,450,002
There were no ordinary share transactions after 31 December 2025, that could have changed the EPS calculations significantly if those transactions had occurred before the end of the reporting period.

4 Administrative expenses

	6 months to 31 December 2025	6 months to 31 December 2024
	Unaudited £'000	Unaudited £'000
Staff Costs:
Payroll	164	235
Pension	12	20
Consultants	21	23
HMRC / PAYE	22	19
Professional Services:
Accounting	56	66
Legal	2	1
Marketing	8	2
Other	66	-
Regulatory Compliance	49	69
Travel	54	62
Office and Admin:
General	17	53
IT costs	9	4
Rent	40	43
Insurance	22	27
Total administrative expenses	542	624

5 Project development expenses

Project development expenses include costs incurred during the assessment and due diligence phases of a project, when material uncertainties exist regarding whether the project meets the Company's investment and development criteria and whether as a result the project will be advanced further.

	6 months to 31 December 2025	6 months to 31 December 2024
	Unaudited £'000	Unaudited £'000
Project development expenses
VUP (Congo)	34	13
Zlata Bana (Slovakia)	-	-
Galaxy (Congo)	-	-
Luanshimba (Congo)	-	-
Kinsevere (Congo)	-	-
Mid Migori Mines (Kenya)	-	-
Zimbabwe Lithium	-	-
Greenland	-	-
Others	2	83
Total project development expenses	36	96

6 Finance income/(expenses), net

	6 months to 31 December 2025	6 months to 31 December 2024
	Unaudited £'000	Unaudited £'000
Interest income	-	-
Share based payment	-	(8)
Interest expense	(586)	(796)
Total Finance income/(expenses), net	(586)	(804)

7	Segmental analysis

Kenyan exploration		Australian exploration	DRC exploration	Other exploration	Corporate and unallocated	Total
For the six-month period to 31 December 2025	£'000	£'000	£'000	£'000	£'000	£'000
Revenue
Total segment external revenue	-	-	-	-	-	-
Result
Segment results	(104)	-	-	(415)	(624)	(1,143)
Loss before tax and finance costs
Finance income						-
Interest expense						(586)
Loss before tax
Tax						-
Loss for the period						(1,729)

		Kenyan exploration			Australian exploration	DRC exploration		Other exploration	Corporate and unallocated		Total
		For the six-month period to 31 December 2024	£'000		£'000	£'000		£'000	£'000		£'000
		Revenue
		Total segment external revenue	-		-	-		-	-		-
		Result
		Segment results	(46)		(117)	-		(10)	(579)		(752)
		Loss before tax and finance costs
		Interest income									-
		Interest expense									(796)
		Loss before tax									(1,548)
		Tax									-
		Loss for the period									(1,548)
		A measure of total assets and liabilities for each segment is not readily available and so this information has not been presented.
8	Financial instruments - Fair value through other comprehensive income
				31 December 2025 Unaudited £'000			31 December 2024 Unaudited £'000			30 June 2025 Audited £'000
	At the beginning of the period			334			736			736
	Additions			-			-			-
	Disposals			-			-			-
	Change in fair value			-			-			(402)
	At the end of the period			334			736			334

9	Exploration assets
		31 December 2025 Unaudited £'000	31 December 2024 Unaudited £'000	30 June 2025 Audited £'000
	At the beginning of the period	13,423	13,576	13,576
	Additions	34	131	186
	Impairments	-	-	(339)
	Reclassification from other current assets	-	-	-
	At the end of the period	13,457	13,707	13,423
10	Share Capital of the company
			Number	Nominal, £'000
	Deferred shares of £0.0009 each		2,371,116,172	2,134
	A deferred shares of £0.000096 each		6,033,861,125	579
	Ordinary shares of £0.0001 each		9,244,509,373	924
	As at 31 December 2025			3,637

Borrowings

Reconciliation of Liabilities Arising from Financing Activities

Group	30 June 2025	Cash flow loans received	Cash flow repayments	Non - cash flow Conversions	Non - cash flow Interest accrued	Non-cash flow Reclassification	Non-cash flow Forex movement	31 Dec 2025
	£'000	£'000	£'000	£'000	£'000	£'000	£'000	£'000
Convertible notes	899	-	-	-	52	-	-	951
Other loans	3,752	345	(250)	-	497	-	-	4,344
Total	4,652	345	(250)	-	549	-	-	5,295

12 Capital Management

Management controls the capital of the Group in order to control risks, provide the shareholders with adequate returns and ensure that the Group can fund its operations and continue as a going concern.

The Group's debt and capital includes ordinary share capital and financial liabilities, supported by financial assets. There are no externally imposed capital requirements.

Management effectively manages the Group's capital by assessing the Group's financial risks and adjusting its capital structure in response to changes in these risks and in the market. These responses include the management of debt levels, distributions to shareholders and share issues.

There have been no changes in the strategy adopted by management to control the capital of the Group since the prior period

13 Subsequent Events

There have been no material events subsequent to the reporting date that require adjustment or disclosure in these interim financial statements.

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