Talisman Metals PlcLSE: TLM

Interim Results

Sep 30, 2026 at 5:04 PM UTC · Investegate

Talisman Metals PLC

30 September 2026

RNS Number:0749X

Talisman Metals PLC

30 September 2026

Talisman Metals PLC

("Talisman" or the "Company")

Interim Results for the six months ended 30 June 2026

Talisman Metals PLC (“Talisman” or the “Company”) announces its interim financial statements and report covering the six‐months ended 30 June 2026.

A copy of the interim results is available at the Company’s website, https://talismanmetalsplc.com/investors/reports and extracts are included at the end of this announcement.

CEO Statement

Today we published Talisman's financial statements covering the six‐month period to the end of June 2026, which are also posted on our website. On 27 January 2026 the Company’s shareholders approved a transaction to acquire 100% of Tadeen International Limited ("Tadeen"), a UK‐registered company, which indirectly owns 100% of a portfolio of mineral exploration licenses in Morocco prospective for copper and silver (the “Transaction”). The Transaction set Talisman on a new course of development with a new team and focus. On 16 February 2026 the Company announced a binding agreement to acquire the Tirzzit Copper Project in Morocco from Aya Gold and Silver, Inc. (which is still in the process of regulatory transfer and management anticipates will be complete later this year). Subsequent to the reporting period end, on 20 August 2026 the Company completed a share placement of £501,800 in gross proceeds through the issue of 7,168,570 new ordinary shares. Throughout the entire reporting period and subsequently, the Company performed ongoing exploration work at both the Fougnar and Tirzzit Projects.

As at 30 June 2026, the Company had cash and cash equivalents amounting to €1.417 million (US$ 1.615 million) and management continues to carefully manage Talisman’s financial resources. The Company has no long-term debt nor any contingent future payments relating to its assets and projects. The costs incurred during the reporting period relate to the costs of closing the Transaction, as well as exploration activities and administration costs. I note that under IFRS accounting rules, and the financial nature of the Transaction, our Interim Results have not recognised any goodwill on the acquisition of our Moroccan projects as a non-current asset and all subsequent exploration expenditure has been expensed to the Income Statement. However, as we advance our Moroccan projects, the accounting treatment of this activity will be kept under review and may change.

I would like to thank the management team of the Company, our partners and contractors, and the Board of Directors for their support.

Tim McCutcheon – CEO and Director

End

For further information:

Talisman Metals PLC

Tim McCutcheon (Chief Executive Officer and Director)

Tel +353 (0) 1 525 6710

contactus@talismanmetalsplc.com

Beaumont Cornish Limited (Nominated Adviser)

James Biddle / Roland Cornish

Tel: +44 (0) 207 628 3396

CMC Markets UK Plc (Broker)

Thomas Smith / Thomas Curran

Tel: +44 (0) 20 3003 8255

BlytheRay (Financial PR)

Megan Ray / Said Izagaren

Tel: +44 (0) 20 7138 3204

talismanmetals@blytheray.com

Nominated Adviser Statement

Beaumont Cornish Limited ("Beaumont Cornish"), is the Company's Nominated Adviser and is authorised and regulated in the United Kingdom by the Financial Conduct Authority. 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 person for providing the protections afforded to customers of Beaumont Cornish nor for advising them in relation to the transaction and arrangements described in the announcement or any matter referred to in it. Half Year Report

Distribution

This announcement has been notified via a Regulatory Information Service and it is not authorised for distribution into North America or any other jurisdiction where to do so would constitute a violation of the relevant laws or regulations of that jurisdiction.

Half Year Report

Talisman Metals PLC
Interim results for the six months ended 30 June 2026

CONDENSED CONSOLIDATED INCOME STATEMENT	Unaudited	Unaudited	Unaudited	Unaudited
	6 Months ended	6 Months ended	6 Months ended	6 Months ended
	30/06/2026	30/06/2025	30/06/2026	30/06/2025
	€'000	€'000	US $'000	US $'000
Continuing Operations

Exploration costs written off	-	-	-	-
Gross loss	-	-	-	-

Administration expenses	(856)	(632)	(994)	(729)
Share option expense	(8)	0	(9)	0
Other gains / losses	(335)	(531)	(389)	(612)
Operating loss	(1,199)	(1,163)	(1,392)	(1,341)

Finance costs	(4)	(3)	(5)	(3)
Finance income	-	-	-	-
Loss for the period before tax	(1,203)	(1,166)	(1,397)	(1,343)

Income tax	-	-	-	-

Loss for the period from continuing operations	(1,203)	(1,166)	(1,397)	(1,343)

Discontinued operations	-	401	-	464

Loss from discontinued operations net of tax	-	401	-	464

Loss for the period	(1,203)	(765)	(1,397)	(879)

Loss for the period attributable to:
Owners of the parent	(1,203)	(765)	(1,397)	(879)
	(1,203)	(765)	(1,397)	(879)

Earning / (Loss) per share
Basic loss per share from continuing operations	(6.11)	(1.32)	(7.10)	(1.54)
Basic earnings per share from discontinued operations	-	0.45	-	0.52
Fully diluted loss per share from continuing operations	(6.11)	(1.32)	(7.10)	(1.54)
Fully diluted earnings per share from discontinued operations	-	0.45	-	0.52

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE (LOSS)/INCOME
	Unaudited	Unaudited	Unaudited	Unaudited
	6 Months ended	6 Months ended	6 Months ended	6 Months ended
	30/06/2026	30/06/2025	30/06/2026	30/06/2025
	€'000	€'000	US $'000	US $'000


Loss for the period	(1,203)	(765)	(1,397)	(879)

Other comprehensive income/(expense):
Items that may not be reclassified subsequently to profit or loss
Fair value movement on equity securities designated as at FVOCI	-	-	-	-
Exchange movement on equity securities designated as at FVOCI	-	-	-	-
Items that may be reclassified subsequently to profit or loss
Foreign exchange gain/(loss) arising from translation of financial statements of a foreign operation	(1,274)	(31)	(1,531)	216
Total comprehensive loss for the period	(2,477)	(796)	(2,928)	(663)

Total comprehensive loss for the period attributable to:
Owners of the parent	(2,477)	(796)	(2,928)	(663)
	(2,477)	(796)	(2,928)	(663)

There is no income tax impact in respect of components recognised within the consolidated statement of comprehensive income.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
	Share capital	Share Premium	Capital Contribution	Treasury Shares	Share based payment reserve	Other reserves	Foreign Currency translation reserve	Retained earnings	Total (attributable to owners of the parent)
Unaudited	€'000	€'000	€'000	€'000	€'000	€'000	€'000	€'000	€'000

At 1 January 2026	11,057	0	13,550	0	46	1,288	5,591	(30,752)	780
Share issue
Share issue to purchase subsidiary	694	2,155							2,849
	694	2,155	-	-	-	-	-	-	2,849
Comprehensive loss
Loss for the period	-	-	-	-		-	-	(1,203)	(1,203)
Transfer to Retained Earnings following expiration of options								46	46
								(1,157)	(1,157)
Other comprehensive loss
Foreign exchange gain arising from translation of financial statements of a foreign operation	-	-	-	-	-	-	(1,274)	-	(1,274)

Total comprehensive loss for the period	-	-	-	-	-	-	(1,274)	-	(1,274)

Transactions with owners of the Company
Options expired					(46)				(46)
Share based payment movements	-	-	-	-	42	-	-	-	42
Total Transactions with the owners of the Company	-	-	-	-	(4)	-	-	-	(4)
Changes in ownership interest
Purchase of the remaining interest in a subsidiary	-	-	-	-	-	-	-	-	-

Balance at 30 June 2026	11,751	2,155	13,550	0	42	1,288	4,317	(31,909)	1,194

	Share capital	Share Premium	Capital Contribution	Treasury Shares	Share based payment reserve	Other reserves	Foreign Currency translation reserve	Retained earnings	Total (attributable to owners of the parent)
Unaudited	€'000	€'000	€'000	€'000	€'000	€'000	€'000	€'000	€'000

At 1 January 2025	11,057	-	-	-	46	1,288	5,468	(15,799)	2,060
Comprehensive loss
Loss for the period	-	-	-	-	-	-	-	(765)	(765)
Other comprehensive loss
Movement on equity securities designated as at FVOCI	-	-	-	-	-	-	-	-	-
Exchange movement on equity securities designated as at FVOCI	-	-	-	-	-	-	-	-	-
Foreign exchange gain arising from translation of financial statements of a foreign operation	-	-	-	-	-	-	(31)	-	(31)

Total comprehensive (loss)/income for the period	-	-	-	-	-	-	(31)	(765)	(796)
	-	-	-	-	-	-	-	-	-
Balance at 30 June 2025	11,057	-	-	-	46	1,288	5,437	(16,563)	1,264


CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

	Unaudited	Audited	Unaudited	Audited
	30/06/2026	31/12/2025	30/06/2026	31/12/2025
	€'000	€'000	US $'000	US $'000
Assets
Current assets
Trade and other receivables	108	70	123	83
Cash and cash equivalents	1,310	2,005	1,494	2,359
	1,418	2,075	1,617	2,442

Assets held for sale

Total assets	1,418	2,075	1,617	2,442

Equity and liabilities
Equity
Ordinary shares	11,751	11,057	16,409	15,586
Share premium	2,155	-	2,503	-
Capital contribution	13,550	13,550	14,725	14,725
Other reserves	1,288	1,288	1,774	1,774
Foreign currency translation reserve	4,317	5,591	1,348	2,880
Share based payment reserve	42	46	47	52
Retained earnings	(31,909)	(30,752)	(35,445)	(34,099)
	1,194	780	1,362	918
Non controlling interest	-	-	-	-
	1,194	780	1,362	918

Current liabilities
Trade and other payables	224	1,295	254	1,524
Provisions	-	-	-	-
	224	1,295	254	1,524

Liabilities included in the disposal group classified as held for sale

Total equity and liabilities	1,418	2,075	1,617	2,442


CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

	Unaudited	Unaudited	Unaudited	Unaudited
	30/06/2026	30/06/2025	30/06/2026	30/06/2025
	€'000	€'000	US $'000	US $'000

Cash flows from operating activities
Loss for the period before tax	(1,203)	(765)	(1,397)	(879)
Depreciation and amortisation	-	-	-	-
Share options expense	8	-	9	0
Finance income	-	3	-	3
Decrease/(Increase) in inventories	-	-	-	-
Decrease/(Increase) in trade and other receivables	(37)	19	(40)	14
(Decrease)/increase in trade and other payables	(1,072)	(180)	(1,269)	(168)
Net decrease in assets & liabilities included in the disposal group	-	(24)	-	(5)
Goodwill impairment	-	-	-	-
Net cash used in operating activities	(2,304)	(947)	(2,696)	(1,037)

Cash flow from financing activities
Proceeds from fundraise share issue	1,331	-	1,579	-
Loan repayment	-	-	-	-
Finance costs	(4)	(3)	(5)	(3)
Net cash generated from financing activities	1,327	(3)	1,574	(3)
Cash flows from investing activities

Additions of research and development costs internally developed	-	-	-	-
Revaluation of Intangible assets	-	-	-	-
Additions to property, plant and equipment	-	-	-	-
Net cash generated from investing activities	0	0	0	0

Effects of foreign exchange	282	(28)	257	213

Net decrease in cash and cash equivalents	(695)	(977)	(865)	(826)
Cash and cash equivalents at the beginning of period	2,005	2,506	2,359	2,610
Cash and cash equivalents at the end of the period	1,310	1,529	1,494	1,784

Cash and Cash equivalents included in the disposal group	-	3	-	4

Cash and Cash Equivalents for Continuing operations	1,310	1,526	1,494	1,788

Talisman Metals PLC

Interim results for the six months ended 30 June 2026

Basis of Preparation

The interim consolidated financial statements for the six months ended 30 June 2026 are presented in €'000, which is the functional currency of the Group. The US$'000 are shown for information purposes only. The financial statements have been prepared in accordance with IAS 34 'Interim Financial Reporting' as issued by the International Accounting Standards Board as adopted by European Union.

The interim consolidated financial statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Group's annual financial statements for the financial year ended 31 December 2025.

Accounting Policies

The accounting policies adopted in the preparation of the interim consolidated financial statements are consistent with those followed in the preparation of the Group's annual financial statements for the financial year ended 31 December 2025.

Other pronouncements - Some accounting pronouncements which have become effective from 1 January 2026 and have therefore been adopted do not have a significant impact on the Group’s financial results or position.

Going concern

The directors have reviewed the current state of the group’s finances, taking into account resources currently available. The Company is also reliant on future fundraises, most likely in the form of equity placings and given its history for being able to attract fresh capital, the directors are satisfied that sufficient funding will be available to the Group to enable it to trade for the foreseeable future. On this basis the directors consider that it is appropriate to prepare the financial statements on the going concern basis. The directors consider that in preparing the financial statements they have taken into account all information that could reasonably be expected to be available. The financial statements do not include any adjustments that would result if the directors' plans were not successful.

Estimates

When preparing the interim financial statements, management undertakes a number of judgements, estimates and assumptions about recognition and measurement of assets, liabilities, income and expenses. The actual results may differ from judgements, estimates and assumptions made by management, and will seldom equal the estimated results. The judgements, estimates and assumptions applied in the Interim Financial Statements, including the key sources of estimation uncertainty, were the same as those applied in the Group's last annual financial statements for the financial year ended 31 December 2025.

Segmental reporting

Information regarding the Group’s operating segments is set out below in accordance with IFRS 8 Operating Segments. IFRS 8 requires operating segments to be identified on the basis of internal reports that are regularly reviewed by the Group’s chief operating decision maker and used to allocate resources to the segments and to assess their performance.

At 30 June 2026, the Group operates as a single operating segment. Management, working with the directors of the company, review the financial performance and allocates resources on a consolidated basis in line with one overarching strategic plan. The Group’s activities are integrated and relate solely to the exploration and evaluation of mineral resources. The bio pharmaceutical and investment segments are shown for comparative for the prior year.

Continuing Operations
Period ended 30 June 2026	Bio-pharmaceutical	Investment	Mining	Total
	€'000	€'000	€'000	€'000

Administration expenses			(856)	(856)
Share based payments costs			(8)	(8)
Other gains/(losses)			(335)	(335)
Operating loss			(1,199)	(1,199)

Finance costs			(4)	(4)
Finance income			-	-

Loss before tax			(1,203)	(1,203)

Income Tax

Loss after tax			(1,203)	(1,203)



Period ended 30 June 2025	Bio-pharmaceutical	Investment	Administrative	Total
	€'000	€'000	€'000	€'000

Administration expenses	-	(20)	(632)	(652)
Other gains/(losses)	-	436	(532)	(96)
Operating loss	0	416	(1,164)	(748)

Finance costs	-	-	(3)	(3)
Finance income	-	-	-	-

Loss before tax	-	416	(1,167)	(750)

Income Tax	-	-	-	-

Loss after tax	-	416	(1,167)	(750)

Segment assets	-	-	1,561	1,562
Segment liabilities	-	-	(186)	(186)
Net assets	-	-	1,375	1,376

Financial Instruments

The Group monitors relevant aspects of financial instrument risk on an ongoing basis. Financial instrument risks primarily relates to foreign exchange risk, credit risk, liquidity risk and market risk as reported in the 31 December 2025 annual report.

	Unaudited	Audited	Unaudited	Audited

	30/06/2026	31/12/2025	30/06/2026	31/12/2025
	€'000	€'000	US$'000	US$'000

Financial assets not measured at fair value

Cash and cash equivalents	1,310	2,005	1,494	2,359
Other debtors	108	70	123	83

	1,418	2,075	1,617	2,442

Financial liabilities not measured at fair value
Trade and other payables	224	1,295	254	1524

	224	1,295	254	1,524

The carrying amount of the financial assets and liabilities is considered a reasonable approximation of fair value:

Other debtors
Cash and cash equivalents
Trade and other payables.

Investing Activities

On 28 January 2026, T Metals completed the acquisition of Tadeen International Limited, constituting a reverse takeover under AIM Rules. Following completion, the Enlarged Share Capital of 64,174,918 ordinary shares of €0.02 each was admitted to trading on AIM at an issue price of 7.7 pence per share.

As part of the transaction, Talisman issued shares in itself recognised in the accounts at €1.7m in share capital and share premium. The Tadeen Group did not meet the business test under IFRS 3, among other things it is currently not capable of producing outputs in the future. For this reason the acquisition was accounted for under IFRS 9 recognising a financial asset in the single entity accounts of T Metals.

As part of the transaction the following were also issued:

• New Ordinary Shares pursuant to a placing of £350,000; and

• Subscription Shares raising £805,000.

Total gross proceeds from the fundraising amounted to £1,155,000, resulting in total cash resources of approximately £2.255 million on Admission. Following Admission, the Company changed its name to Talisman Metals PLC. The acquisition has been accounted for as a reverse takeover, with Tadeen International Limited treated as the accounting acquirer.

Dividends

The company made no distributions during the period.

Events after the reporting period

'Subsequent to reporting period end, on 20 August 2026 the Company completed a share placement of £501,800 in gross proceeds through the issue of 7,168,570 new ordinary shares of EUR0.02 par value each.

Approval of the financial statements

The interim report was approved by the Board of Directors on 30 September 2026 and is included on the Company's website, www.talismanmetalsplc.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

Original release on Investegate

Earlier from Talisman Metals

All Talisman Metals news releases