TERTIARY MINERALS PLC

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +23.3%

  £162,658 → £200,569

• Cash

  -90.9%

  £775,747 → £70,797

• Net assets

  -14.3%

  £1,580,452 → £1,354,978

• Employees

  0%

  8 → 8

• Operating profit

  -6%

  -£551,151 → -£584,171

• Profit before tax

  -6%

  -£550,934 → -£583,916

• Wages

  +6.6%

  £339,262 → £361,708

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

UK adopted International Accounting Standards

Reporting scope

Consolidated group

Auditor

Crowe U.K. LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Given the Group's cash position at the year-end (£70,797), these projections include the estimated proceeds of future fundraising deemed necessary within the next 12 months to meet the Company's and the Group's overheads and planned discretionary project expenditures and to maintain the Company and the Group as going concerns. Since the year-end, the Company has successfully raised an additional £550,000. Although the Company has been successful in raising finance in the past, there is no assurance that it will obtain adequate finance in the future. This represents a material uncertainty related to events or conditions which may cast significant doubt on the Group and Company's ability to continue as going concerns and, therefore, that they may be unable to realise their assets and discharge their liabilities in the normal course of business. However, the directors have a reasonable expectation that they will secure additional funding when required to continue meeting corporate overheads and exploration costs for the foreseeable future. Therefore, the directors believe that the going concern basis is appropriate for the preparation of the financial statements.”

Group structure

1. TERTIARY MINERALS PLC · parent
   1. Tertiary Gold Limited 100% · England & Wales · Mineral exploration
   2. Tertiary (Middle East) Limited 100% · England & Wales · Mineral exploration
   3. Tertiary Minerals US Inc. 100% · Nevada, USA · Mineral exploration
   4. Tertiary Minerals (Zambia) Limited 96% · Zambia · Mineral exploration
   5. Copernicus Minerals Limited 90% · Zambia · Mineral exploration

Significant events

• “In March 2025 we welcomed our new Managing Director, Dr Richard Belcher. Richard's appointment means that the time was right for me to relinquish my founding role as Executive Chairman and since 1 January 2026 I have continued my involvement with the Company as Non-executive Chairman.”
• “In June 2025 we raised £375,000 from certain institutional investors. A further £100,000 was raised from an existing significant shareholder in October 2025 and in November 2025 we took on a convertible loan in the amount of £450,000 from another supportive shareholder to fund further exploration at Mushima North.”
• “The Company undertook additional drilling (Phase 2 and 3) following very encouraging results from the Phase 1 drilling in late 2024. A total of 1,597m of drilling was completed this year.”
• “On 30 October 2025, it was announced that KoBold had satisfied the Stage 1 Earn-In requirements with the completion of two drill holes for a combined total of 4,153m of drilling and were electing to advance to Stage 2.”
• “In September 2024, the Swedish Mining Inspectorate again refused the Company's application for a mining concession and the Company lodged a further appeal on the Mining Inspectorate's decision in March 2025.”
• “The Company raised additional funds after 30 September 2025 for a total of £550,000. This includes £100,000 on 20 October 2025 through the issue of equity and £450,000 on 7 November 2025 via a Convertible Loan Note.”
• “At a meeting held on 7 May 2025, the Remuneration Committee recommended and approved that the CEO, Mr Patrick Cheetham, be awarded a bonus equal to 26.25% of his 2024 salary in respect of the 2024 calendar year.”
• “Placing on 20 October 2025: An issue of 153,846,154 0.01p Ordinary Shares at 0.065p per share, by way of a share placing for a total consideration of £100,000 before expenses.”
• “On 7 November 2025, the Company entered into a 3-year unsecured convertible loan agreement raising £450,000 in two tranches, with existing shareholder Sanderson Capital Partners Limited. The loan is to expand ongoing exploration at the Mushima North Silver-Copper-Zinc Project.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

5

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.