CADENCE MINERALS PLC

1. CADENCE MINERALS PLC 2017-03-24 → present
2. RARE EARTH MINERALS PLC 2010-11-29 → 2017-03-24
3. ZEST GROUP PLC 2005-03-01 → 2010-11-29
4. BOREDALE PLC 2004-09-17 → 2005-03-01

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.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

PKF Littlejohn LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have prepared cash flow forecasts for the period ending 30 June 2026 which demonstrate that the Company has sufficient cash funds available to allow it to continue in business for a period of at least twelve months from the date of approval of these financial statements. Accordingly, the financial statements have been prepared on a going concern basis.”

Group structure

1. CADENCE MINERALS PLC · parent
   1. Mexalit S.A. de C.V. 30% · Mexico · Sonora Lithium Project
   2. Megalit S.A. de C.V. 30% · Mexico · Sonora Lithium Project
   3. Mojito Resources Limited 100%

Significant events

• “During 2024, metallurgical testing confirmed the Amapá Iron Ore Project's capability to produce high-grade, Direct Reduction (DR) quality iron concentrate.”
• “UK equity markets experienced continued outflows in 2024, with approximately £13.1 billion withdrawn from UK-focused funds.”
• “By late 2024 and into early 2025, signs of stabilisation began to emerge in the lithium market after significant price corrections.”
• “An optimisation study completed in 2024 for the Amapá Iron Ore Project delivered a 33% reduction in beneficiation plant capex and lifted post-tax NPV to US$1.97 billion.”
• “Cadence divested from Hastings Technology Metals and European Metals Holdings, realising 30% and 174% returns respectively.”
• “In November 2023, Cadence formally submitted a Request for Consultations under the UK-Mexico Bilateral Investment Treaty regarding the cancellation of Sonora Lithium Project concessions.”
• “Metallurgical test work completed in Q4 2024 confirmed the viability of a 67% Fe "Green Iron" flowsheet at a PFS level of accuracy for the Amapá Project.”
• “The Amapá Project submitted environmental studies and applications for the mine and railway in April 2024, and for the iron ore port in early September.”
• “Before year-end 2024, SEMA informed The Amapá Project that additional information and federal clearance were required for the mine and railway Installation Licence (LI).”
• “In April 2024, the company withdrew its ordinary shares from trading on the AQSE Growth Market to improve operational and financial efficiencies.”
• “In August 2023, the Mexican General Directorate of Mines (DGM) cancelled nine lithium concessions for the Sonora Lithium Project, citing alleged non-compliance.”
• “On 17 January 2025, the Company announced the grant of 14,720,000 share options, exercisable at 2p per option, vesting immediately and expiring 31 December 2030.”

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

Filings

8

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.

• Turnover

  —

  Not reported

• Cash

  +204.7%

  £215,000 → £655,000

• Net assets

  -6.7%

  £18,451,000 → £17,213,000

• Employees

  0%

  6 → 6

• Operating profit

  0%

  -£3,316,000 → -£3,317,000

• Profit before tax

  -10.1%

  -£3,019,000 → -£3,325,000

• Wages

  -8.9%

  £628,000 → £572,000

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