Statement of Financial Position

About this update from Beowulf Mining Plc

    15 April 2025 Beowulf Mining plc ("Beowulf" or the "Company") Statement of Financial Position at the end of February 2025 Beowulf Mining (AIM: BEM; Spotlight: BEO), the mineral exploration and development company, provides a statement of its financial position as at the end of February 2025.   In relation to the ongoing Capital Raise and specifically the Rights Issue as announced on 4 April 2025, the Company intends to publish a prospectus shortly. The prospectus contains certain financial information that must be less than 90 days old, as set out below. For ease of reference, the unaudited Condensed Consolidated Statement of Financial Position as at 28 February 2025 and 31 December 2024 (previously released) in the Company's normal format are also presented below.     Unaudited Statement of financial position Amount in GBP As of 28 February 2025 Total current liabilities 22,141 Against guarantee or guarantee - Towards security - Without warranty/guarantee or security (a) 22,141 Total long-term liabilities 10,700 Against guarantee or guarantee - Towards security - Without warranty/guarantee or security (b) 10,700 Total equity 17,210,227 Share capital (c) 12,356,927 Reserve Fund (d+g) 30,303,901 Other reserves (e+f+h+i) (25,450,601) Total 17,243,068     Note: (a) to (i) refer to Consolidated Statement of Financial Position below       Net debt (unaudited) Amount in GBP As of 28 February 2025 (A) Cash and bank 293,421 (B) Other cash and cash equivalents - (C) Other financial assets - (d) Liquidity (A+B+C) 293,421 (E) Current financial liabilities 1 22,141 (F) Short-term share of long-term financial liabilities - (G) Current financial debt (E+F) 575,509 22,141 (H) Net current financial liabilities (G-D) 282.088 -271,280 (I) Long-term financial liabilities 2 10,700 (J) Debt instruments - (K) Current accounts payable and other liabilities - - (L) Net long-term financial debt (I+J+K) 10,700 10,700 (M) Total financial debt (H+L) -260,580 Notes (1) Includes short-term lease liabilities of £22,141 (2) Includes long-term lease liabilities of £10,700       BEOWULF MINING PLC CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION   AS AT 28 FEBRUARY 2025 (Unaudited) As at 28 February 2025 (Unaudited) As at 31 December  2024 £ £ ASSETS NON-CURRENT ASSETS       Intangible assets 17,157,603 16,023,022 Property, plant and equipment 52,393 56,685 Investments 3,250 3,250 Loans and other financial assets 2,784 5,138 Right of use asset 51,631 48,333 17,267,661 16,136,428 CURRENT ASSETS Trade and other receivables 235,354 192,512 Cash and cash equivalents 293,421 881,349   528,775 1,073,861   TOTAL ASSETS 17,796,436 17,210,289   EQUITY SHAREHOLDERS' EQUITY Share capital (c) 12,356,927 12,356,927 Share premium (d) 29,878,404 29,878,404 Capital contribution reserve (e) 46,451 46,451 Share Based Payment reserve (f) 1,186,003 1,124,131 Merger Reserve (g) 425,497 425,497 Translation reserve (h) (1,653,140) (2,395,934) Accumulated losses (i) (25,029,915) (24,764,054) 17,210,227 16,671,422   Non-controlling interests - - TOTAL EQUITY 17,210,227 16,671,422   LIABILITIES CURRENT LIABILITIES Trade and other payables 553,368 508,124 Lease liability (a) 22,141 20,727 Borrowings 0 -   575,509 528,851   NON - CURRENT LIABILITIES Lease liability (b) 10,700 10,016   TOTAL LIABILITIES 586,209 538,867   TOTAL EQUITY AND LIABILITIES 17,796,436 17,210,289       Enquiries : Beowulf Mining plc   Ed Bowie, Chief Executive Officer [email protected]     SP Angel   (Nominated Adviser & Joint Broker)   Ewan Leggat / Stuart Gledhill / Adam Cowl Tel: +44 (0) 20 3470 0470     Alternative Resource Capital   (Joint Broker)   Alex Wood Tel: +44 (0) 20 7186 9004     BlytheRay   Tim Blythe / Megan Ray Tel: +44 (0) 20 7138 3204   Cautionary Statement Statements and assumptions made in this document with respect to the Company's current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of Beowulf. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to , (i) changes in the economic, regulatory and political environments in the countries where Beowulf operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) Beowulf's continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) metal prices, particularly as regards iron ore. In the light of the many risks and uncertainties surrounding any mineral project at an early stage of its development, the actual results could differ materially from those presented and forecast in this document. Beowulf assumes no unconditional obligation to immediately update any such statements and/or forecast.

View stock analysis, news, and events for Beowulf Mining Plc