AFRICAN STRATEGIC METALS LIMITED

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  Material uncertainty over going concern

  The Company incurred a loss of GBP27,008 for the year ended 31 March 2025 and as at 31 March 2025 the Company had net current liabilities GBP120,010 and net liabilities GBP47,171. These conditions indicate the existence of a material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern.

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  Going-concern uncertainty disclosed

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  Negative shareholders' funds

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers

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. AFRICAN STRATEGIC METALS LIMITED 2021-07-15 → present
2. JACKAL SECURITIES PLC 2021-07-14 → 2021-07-15
3. AFRICAN STRATEGIC METAL PLC 2021-07-12 → 2021-07-14
4. JACKAL SECURITIES PLC 2021-03-24 → 2021-07-12

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Edwards Veeder (UK) Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The Company incurred a loss of GBP27,008 for the year ended 31 March 2025 and as at 31 March 2025 the Company had net current liabilities GBP120,010 and net liabilities GBP47,171. These conditions indicate the existence of a material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern.”

Group structure

1. AFRICAN STRATEGIC METALS LIMITED · parent
   1. Jackal Mines (Private) Limited · Zimbabwe

Significant events

• “Further work has been carried out on our copper project in Mazowe District, Zimbabwe. Detailed outcrop mapping and soil geochemistry was carried out.”
• “Still in a legal dispute in respect of a licence area. Received a favourable arbitration award in June 2023, and sought to have it enforced by the High Court. In July 2025 the High Court ruled against this, but on grounds that were obviously wrong. Our legal advisers have appealed against the ruling and are of the opinion that we will succeed.”
• “The Judge who presided over the case is currently under investigation, after making a number of erroneous decisions.”
• “The prospects, on which initial work has been done in Matabeleland, Zimbabwe, are still awaiting the formal issue of licences. The government has still not lifted the embargo on the issue of exploration licences.”

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

Filings

2

last 12 months

Capital events

0

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.