Tectonic Gold Plc - Interim Results for the 6 months ended 31 December 2024

Interim Financial Report Tectonic Gold PLC For the 6 months ended 31 December 2024 Contents 3COMPANY INFORMATION 5              MANAGING DIRECTOR'S STATEMENT 6              CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 7              CONSOLIDATED STATEMENT OF FINANCIAL POSITION 8              CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 10           CONSOLIDATED STATEMENT OF CASH FLOWS 11           NOTES TO FINANCIAL STATEMENTS COMPANY INFORMATION Tectonic Gold PLC For the 6 months ended 31 December 2024 Directors Bruce Fulton (Non-Executive Chairman) Brett Boynton (Chief Executive Director) Sam Quinn (Executive Director) Jonathan Robbeson (Executive Director) Secretary Sam Quinn Registered Office 167-169 Great Portland Street Fifth Floor, London, 1W5PF Company Registration Number 05173250 Registrar and Transfer Office Link Market Services Limited 6th Floor, 65 Greshan Street London EC2V7NQ Solicitors Mildwaters Consulting LLP Walton House, 25 Bilton Road, Rugby Warwickshire CV227AG Independent Auditor Moore Kingston Smith LLP 6th Floor, 9 Appold Street London EC2A2AP COMPANY INFORMATION [image] Aquis Corporate Advisor and Broker VSA Capital Limited Park House London EC2M 7EB Bankers Barclays Bank Plc 1 Churchill Place London E14 5HP MANAGING DIRECTOR'S STATEMENT Tectonic Gold PLC For the 6 months ended 31 December 2024 Dear Shareholder, During the half year to December 2024, the Company worked with our farm-out partner, White Energy Company Limited , on the Specimen Hill project. Following successful exploration activities identifying target zones, White Energy prepared a drilling program for the Specimen Hill project to test and begin definition of copper-gold mineralisation in earlier discoveries made by Tectonic. White Energy announced earlier in the week that they had met the first $1 million expenditure milestone and have moved to a 51% interest in the Specimen Hill project. They have also advised that they will continue with  exploration through the remainder of the year with the intention of completing the second $1 million expenditure milestone. This will bring them bring them to the final $2 million cash acquisition payment. Tectonic will retain 3% NSR royalty. During the period we sold the residual interest in the South African diamond and mineral sands projects (Deep Blue Pty Ltd and Whale Head Minerals Pty Ltd) to our joint venture partner, Kazera Global Investments Plc ("Kazera") . This generated a small cash consideration of $150,000 and 27,110,947 shares in Kazera, which at the current share price of £0.0175 has a value of almost £475,000. On 17 March 2025 we announced reaching agreement with Godolphin Exploration Limited, a privately held English exploration company focused on tin and copper exploration in the South West of England (Devon and Cornwall). Godolphin is led by Mark Thompson, an acknowledged expert in the tin and copper markets, and a long-term proponent of the rebirth of the Cornish mining industry, alongside David Lilley and Henry Maxey, both experienced commodities fund managers. We look forward to welcoming the Godolphin shareholders to the Tectonic register upon completion of this transaction. Tin prices spiked to a fresh eight-month high in March after one of the world's largest miners - Alphamin Resources - announced a temporary shutdown of its Bisie mine in the Democratic Republic of the Congo due to advancing rebel forces nearing the site. We see a long term supply risk in the tin market and believe this may be ideal timing for Tectonic to acquire strategic positions in this critical mineral. RESULTS AND COMPARITIVE INFORMATION The Group generated income after tax for the reporting period of £74,531 (31 Dec 2023: £71,909). For and on behalf of the Board. [image] Brett Boynton, CFA Managing Director CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Tectonic Gold PLC For the 6 months ended 31 December 2024 6 MONTHS TO 316 MONTHS TO 3112 MONTHS TO NOTESDEC 2024DEC 202330 JUNE 24 UNAUDITEDUNAUDITEDAUDITED Revenue Revenue - 84,104 1 Expenses Accounting and audit fees (66,960) (45,400) (70,021) Administration and office costs (5,442) (2,169) (6,931) Corporate costs (14,058) (28,341) (40,035) Amortization and depreciation - - - Employee benefits, management fees and on - - (80,000) costs Exploration and tenement costs (113) (606) (14,375) Insurance (10,462) (9,278) (11,986) Legal Expenses - - (3,031) Share based payments - - - Net foreign exchange gain/(loss) 130,492 49,668 (2,750) Fair value gain on financial assets at fair - - - value through profit and loss Other expenses (7,515) (1,325) (5,317) Income/Loss before income tax (235,042) 46,660 - Income tax benefit Income Tax 85,234 - 82,192 Income/Loss for the reporting period from (149,808) 46,660 (152,253) continuing operations Other comprehensive income Items that may be subsequently reclassified to 224,339 - - profit and loss: Exchange differences on translation of foreign - 25,249 (1,308) subsidiaries Total comprehensive income/loss for the 74,531 71,909 (153,561) reporting period Earnings per share attributable to owners of the company Basic and diluted (pence per share) From continuing operations4--- [image]The accompanying notes form part of these financial statements. CONSOLIDATED STATEMENT OF FINANCIAL POSITION Tectonic Gold PLC For the 6 months ended 31 December 2024 NOTES 31 DEC 2024 31 DEC 2023 30-JUN-24 GROUP GROUP GROUP AUDITED UNAUDITED UNAUDITED Assets Non-current Assets Property, Plant, and - - - Equipment Exploration and evaluation 3,033,783 3,291,075 3,216,838 expenditure Financial assets at fair 108,444 3 3 value though profit and loss Total Non-current Assets 3,142,227 3,291,078 3,216,841 Current Assets Cash and cash equivalents 119,584 106,958 65,308 Trade and other 10,899 8,900 1,306 receivables Other assets 5 315,840 361,993 335,330 Total Current Assets 446,323 477,851 401,944 Total Assets 3,588,550 3,768,929 3,618,785 NOTES 31 DEC 2024 31 DEC 2023 30-JUN-24 GROUP GROUP GROUP AUDITED UNAUDITED UNAUDITED Equity Equity Share Capital 6,126,579 6,126,579 6,126,579 Share premium account 61,323,350 61,323,350 61,323,350 RTO Reserve (57,976,182) (57,976,182) (57,976,182) Warrant Reserves 558,554 588,554 588,554 Foreign exchange (227,130) (300,822) (158,798) translation reserves Accumulated Losses (6,821,517) (6,528,561) (6,896,048) Total Equity 2,983,654 3,232,918 3,007,455 Non-Current Liabilities Trade and other payables - - 15,077 Borrowings 164,734 150,101 151,302 Total Non-Current 164,734 150,101 166,379 Liabilities Current Liabilities Trade and other payables 410,162 385,911 444,951 Total Current Liabilities 410,162 385,911 444,951 Total Liabilities 574,896 536,012 611,330 Total Equity and Liabilities3,558,5503,768,9303,618,785 [image] The accompanying notes form part of these financial statements. These financial statements were approved by the Board of Directors on 31 March 2025. Signed on behalf of the Board by: CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Tectonic Gold PLC For the 6 months ended 31 December 2024 ISSUED CAPITALSHARE RTO RESERVE FOREIGN ACCUMULATED TOTAL PREMIUMWARRANTRESERVE LOSSES CUR RENCY RES ERVE GROUP UNAUDITED FOR HALF YEAR ENDED 31 DEC 2024 Balance at 1 July 2024 6,126,579 61,323,350 588,554 (57,976,182) (158,798) (6,896,048) 3,007,455 Total comprehensive income for - - - - - 74,531 74,531 the period Transactions with owners, - - - - - - - recorded directly in equity: Issue of shares - - - - - - - Share issue costs - - - - - - - Foreign Currency - - - - (68,332) - - Translation Reserve Balance at 31 Dec 2024 6,126,579 61,323,350 588,554 (57,976,182) (227,130) (6,821,517) 3,081,986 ISSUED SHARE WARRANT RTO RESERVE FOREIGN ACCUMULATED TOTAL CAPITAL PREMIUM RESERVE LOSSES CUR RENCY RES ERVE GROUP UNAUDITED FOR HALF YEAR ENDED 31 DEC 2023 Balance at (57,976,182) (157,490) (6,743,795) 3,161,016 July6,126,57961,323,350588,554 2023 Total - - 46,652 46,652 comprehensive--loss for the period Transactions - - - - with owners,--recorded directly in equity: Foreign currency - 25,249 - 25,249 translation--reserve Balance at 31Dec 20236,126,57961,323,350588,554(57,976,182)(132,241)(6,697,143)3,232,917 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY [image] ISSUED CAPITALSHARE RTO RESERVE FOREIGN ACCUMULATED TOTAL PREMIUMWARRANTRESERVE LOSSES CURRENCY RESERVE GROUP UNAUDITED FOR THE YEAR ENDED JUNE 2024 Balance at July 2023 6,126,579 61,323,350 588,554 (57,976,182) (157,490) (6,743,795) 3,161,016 Total comprehensive - - - - - (152,253) (152,253) loss for the period Transactions with - - - - - - - owners, recorded directly in equity: Share Issued - - - - - - - Share Issue Costs - - - - - - - Foreign currency - - - - (1,308) - (1,308) translation reserve Balance at 30June 20246,126,57961,323,350588,554(57,976,182)(158,798)(6,896,048)3,007,455 CONSOLIDATED STATEMENT OF CASH FLOWS Tectonic Gold PLC For the 6 months ended 31 December 2024 NOTES 6 MONTHS 6 MONTHS 12 MONTHS TO 31 TO 31 TO DEC 2024 DEC 2023 30 JUNE UNAUDITED UNAUDITED 2024 AUDITED CASH FLOWS FROM OPERATING ACTIVITIES Profit before taxation Profit before taxation (235,042) 46,660 (234,445) Adjustments for Depreciation - - - Foreign Exchange loss - - - Investment income 224,339 - - Increase in Trade and other (35,002) 84,104 - receivables Decrease in trade payables (956) (8,673) 54,541 Interest paid - - - Research and Development Tax 85,234 - - Incentive Claim Net cash used in operating activities 38,573 122,091 (179,904) NOTES 6 MONTHS 6 MONTHS 12 MONTHS TO 31 TO 31 TO DEC 2024 DEC 2023 30 JUNE UNAUDITED UNAUDITED 2024 AUDITED CASH FLOWS FROM INVESTING ACTIVITIES Payments for exploration and (4,655) (59,696) (955) evaluation expenditure Payment for shares acquired in Kazera - - - Global Plc Proceeds from sale of financial asset - - - at fair value through profit and loss Payments for property, plant and - - - equipment Research and Development Tax - - - Incentive Claim Net cash used in investing activities (4,655) (59,696) (955) NOTES 6 MONTHS 6 MONTHS 12 MONTHS TO 31 TO 31 TO DEC 2024 DEC 2023 30 JUNE UNAUDITED UNAUDITED 2024 AUDITED CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from sale of shares in (108,444) - - Kazera Proceeds from issue of shares - - - Repayment of Borrowings 130,680 - (1,492) Net cash provided by financing 22,236 - (1,492) activities NOTES 6 MONTHS 6 MONTHS 12 MONTHS TO 31 TO 31 TO DEC 2024 DEC 2023 30 JUNE UNAUDITED UNAUDITED 2024 AUDITED Cash and Cash Equivalents Net (decrease)/increase in cash held 56,154 (21,717) (56,988) and cash equivalents Cash and cash equivalents at the 65,308 123,603 123,604 beginning of the period Effects of exchange rate changes on (1,878) 4,297 (1,308) cash and cash equivalents Cash and cash equivalents at the end of the period119,584106,18365,308 NOTES TO FINANCIAL STATEMENTS Tectonic Gold PLC For the 6 months ended 31 December 2024 1. GENERAL INFORMATION Tectonic Gold Plc is a company incorporated in the United Kingdom under the Companies Act 2006. The consolidated entity (the "Group") consists of Tectonic Gold Plc (Tectonic and or the "Company") and the entities it controlled at the end of, or during, the six months ended 31 December 2024. The principal activity of the Group during the financial period was mineral exploration. 2. BASIS OF PREPARATION These condensed interim consolidated financial statements ("the interim financial statements") of the Group are for the six months ended 31 December 2024 and are presented in Sterling which is the Company's presentational currency. These interim financial statements have not been reviewed or audited. The interim financial statements have been prepared in accordance with the recognition and measurement principles of IFRS as adopted by the European Union (EU) and on the same basis and using the same accounting policies as applied in the Company's 2024 Annual Report and statutory accounts for the year ended 30 June 2024. The statutory accounts for the year ended 30 June 2024 have been filed with the Registrar of Companies. The auditor's report on those financial statements was unqualified and did not contain a statement under section 498 (2) or (3) of the Companies Act 2006. The interim financial statements have been prepared on a going concern basis under the historical cost convention. The Directors believe that the going concern basis is appropriate for the preparation of these interim financial statements as the Company is in a position to meet all its liabilities as they fall due. The interim financial statements for the six months ended 31 December 2024 were approved by the Board on 31 March 2025. 3. DIVIDEND The Board is not recommending the payment of an interim dividend for the period ended 31 December 2024. 4. LOSS PER SHARE The basic earnings per share is based on the profit/(loss) for the year divided by the weighted average number of shares in issue during the reporting period. The weighted average number of ordinary shares for the reporting period assumes that all shares have been included in the computation based on the weighted average number of days since issue. 6 MONTHS TO 6 MONTHS TO 12 MONTHS 31 31 30 DEC 2024 DEC 2023 JUNE 2024 UNAUDITED UNAUDITED AUDITED Loss per Share Profit/(Loss) for the period 74,531 71,909 (152,253) attributable to owners of the Company Weighted average number of ordinary 957,188,591 957,188,591 957,188,591 shares in issue for basic earnings* Weighted average number of ordinary 957,188,951 957,188,951 957,188,591 shares in issue for fully diluted earnings* (Loss)/gain per share (pence per share) Basic - - - Diluted--- NOTES TO FINANCIAL STATEMENTS [image] 6 MONTHS TO 31 6 MONTHS TO 31 12 MONTHS 30 DEC 2024 UNAUDITED DEC 2023 UNAUDITED JUNE 2024 AUDITED 5. OTHER ASSETS Prepayments(i) 308,816 353,536 327,952 Other prepayments 2,827 2,286 2,659 Security deposits 4,197 6,171 4,719 Total OTHER ASSETS315,840361,993335,330 (I) In 2018 the Company paid Titeline Drilling Pty Ltd ACN 096 640 201 (Titeline) for future drilling services in accordance with the heads of agreement dated 28 March 2018 between Titeline, Signature Gold and Tectonic Gold. Titeline has been engaged to complete 10,000 meters of diamond drilling to produce core samples for analysis, assay and metallogenic studies from the Company's Biloela Project site. A review to be completed after 2,500 metres of drilling has been completed. However, as at the date of this report the completion program required to be mutually agreed prior to the credit being applicable to the remaining 7,500 metres has not been produced and until such time as this program has been produced, this credit may not be utilised. As at 31 December 2024, the balance of the prepayment to Titeline is £308816 (A$625,386). 6. EVENTS AFTER THE REPORTING PERIOD Other than as stated elsewhere in this report, Directors are not aware of any other matters or circumstances at the date of this report that have significantly affected or may significantly affect the operations, the results of the operations or the state of affairs of the Company in subsequent financial years. 7. DISTRIBUTION Copies of these interim financial statements is available on the Company's website (www.tectonicgold.com) or directly from the Company at its registered address. This information was brought to you by Cision http://news.cision.com The following files are available for download: https://mb.cision.com/Main/22679/4128562/3358859.pdf Tectonic_Gold_PLC_-_Interim_Financial_Report 31 December 2024

Tectonic Gold Plc