Business
Results for the year ended 31 December 2025
Switch Metals plc reported its audited results for the year ended December 31, 2025, highlighting a transformational year that included its AIM listing in April 2025 following a reverse takeover, a £2 million fundraise at 7.5p per share, and the commencement of exploration at its Issia project in Côte d'Ivoire. Post-period, the company discovered the Kabore spodumene-bearing pegmatite with grades up to 2.8% Li₂O and initiated a 2,500-meter RC drill program. The company recorded a loss of £2.25 million for the year, with cash and cash equivalents at £536k, subsequently strengthened by an oversubscribed £1.25 million fundraise in April 2026. Disclaimer*
About this update from Switch Metals Plc
30 June 2026 Switch Metals plc ("Switch Metals" or the "Company") Results for the year ended 31 December 2025 Switch Metals (AIM: SWT), the critical metals company focused on tantalum and lithium in Côte d'Ivoire, is pleased to announce final audited results for the year ending 31 December 2025. FY25 Highlights The year under review marked the beginning of a new chapter for Switch Metals. Key milestones included: · Completion of reverse takeover in April 2025, comprising: - Acquisition of Switch Metals Cote D'Ivoire SARL; - Admission to trading on AIM; - Change of name to Switch Metals plc; and - £2 million fundraise (before expenses) at 7.5p per share, giving a market capitalisation of £8.8 million at admission · Launch of the exploration programme at the Badinikro licence area within Issia in May 2025, including a pitting programme over the Mineral Resource Estimate ("MRE") target zone at 100m x 100m spacing · Completion of pitting and soil sampling at Issia across MRE-1 and MRE-2 target zones by September 2025 · Commissioning of pilot wash plant to concentrate pit samples for MRE estimation and future bulk metallurgical tests · Commencement of a programme targeting tantalum-rich coltan deposited in alluvial drainage basins at Badinikro in October 2025 · Signing of a Memorandum of Understanding with Xcelsior Capital Advisors and Wogen Resources in November 2025, covering a proposed strategic partnership for funding, market access and ESG support Post Period Highlights · Discovery of the Kabore spodumene-bearing pegmatite in February 2026, with grades up to 2.8% Li₂O and coltan occurrences confirming a working LCT system at Issia · Identification of additional tantalum-rich alluvial targets at Issia following completion of the alluvial work programme · Completion of field-based work required for MRE-1 and appointment of Arethuse Geology Sarl to produce the maiden JORC-compliant MRE · Oversubscribed fundraise of £1.25 million (before expenses) at 10p per share in April 2026, including a £250k Retail Offer, strengthening the balance sheet to fund the maiden drill programme · Commencement of the maiden 2,500 metre RC drill programme at Issia in June 2026, targeting the Zraty hard-rock tantalum pegmatite and Kabore lithium spodumene system Karl Akueson, Chief Executive Officer of Switch Metals co...