FIRST TIN PLC

• ⚠

  Material uncertainty over going concern

  At 30 June 2025, the Group had cash balances of £6.37 million following two rounds of fundraising during the year under review. The Directors have prepared a cash flow forecast to 31 December 2026 which indicates that additional funding will be required in Spring 2026 in order for the Group to continue to settle its liabilities as they fall due. This represents a material uncertainty that may cast significant doubt about the Group's and the Company's ability to continue as a going concern.

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

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.

1. FIRST TIN PLC 2022-03-15 → present
2. FIRST TIN LIMITED 2021-08-03 → 2022-03-15
3. ANGLO SAXONY MINING LIMITED 2017-02-22 → 2021-08-03
4. TRELIVER MINERALS LIMITED 2012-02-01 → 2017-02-22

Accounting basis

UK IAS

Reporting scope

Consolidated group

Auditor

Crowe U.K. LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“At 30 June 2025, the Group had cash balances of £6.37 million following two rounds of fundraising during the year under review. The Directors have prepared a cash flow forecast to 31 December 2026 which indicates that additional funding will be required in Spring 2026 in order for the Group to continue to settle its liabilities as they fall due. This represents a material uncertainty that may cast significant doubt about the Group's and the Company's ability to continue as a going concern.”

Group structure

1. FIRST TIN PLC · parent
   1. Saxore Bergbau GmbH 100% · Germany · Mineral exploration
   2. Taronga Mines Pty Ltd 100% · Australia · Mineral exploration
   3. First Tin Australia Pty Ltd 100% · Australia · Dormant

Significant events

• “Following the successful £10.12 million equity raise completed in two tranches during H2 2024, we have been able to accelerate technical work, advance permitting processes and consolidate our exploration footprint.”
• “The completion and submission of the Environmental Impact Statement (EIS) in September 2025 marks a significant step forward in securing development approval.”
• “Early assays from the ongoing drilling programme are confirming the potential to extend mine life through resource conversion and expansion.”
• “In Germany, we have made further headway at Tellerhäuser, progressing the fast-track Life of Mine Plan submission and advancing water management studies.”
• “Exploration at Gottesberg and Auersberg has highlighted the scale of the tin-indium-gallium mineral systems in this historic district.”
• “A compensation agreement was executed in March 2025 with Crown Land NSW to account for impacts on Crown land and Crown roads within the Mine Site.”
• “In August 2025, an agreement was reached with the Glen Innes Severn Council (GISC) to place the mine camp on GISC-owned land adjacent to Glen Innes airport.”
• “In August 2024, we announced higher recovery results from coarse gravity test work on a higher-grade sample.”
• “In October 2024, a successful trial blast was completed, which reinforced the technical viability of the project.”
• “In December 2024, we announced a 10,000m drilling programme to be undertaken in 2025 to convert the in-pit Inferred resource to Indicated and Measured status.”
• “As of 12th September 2025, a total 5,111m of RC drilling has been completed in 69 drill-holes as part of the resource drilling programme.”
• “We announced that we had been granted two new Exploration Licenses near Taronga.”
• “The Group reported a loss after tax of £1,554,175 (period ended 30 June 2024: £3,033,055) and a net asset value of £44,309,236 (period ended 30 June 2024: £37,884,956) for the period under review.”

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

3

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.