ATERIAN PLC

• ⚠

  Material uncertainty over going concern

  The financial position of the Group, its cash flows and liquidity position are set out in these financial statements. As at 31 December 2024, the Group had cash and cash equivalents of £64,000 working capital facility of £500,000 which have been fully utilised. As at the date of this report cash balances were approximately £11,000. The Company expects to raise additional cash and equity capital and will be able to fund future operations. There are material uncertainties, but the Directors expect to manage. The directors are of the opinion that the Group is able to continue as a going concern.

1. ATERIAN PLC 2022-11-02 → present
2. EASTINCO MINING AND EXPLORATION PLC 2020-01-08 → 2022-11-02
3. EQUATORIAL MINING AND EXPLORATION PLC 2013-06-26 → 2020-01-08
4. RARE MINERALS PLC 2011-02-15 → 2013-06-26
5. RARE MINERALS LIMITED 2011-01-20 → 2011-02-15
6. CHARZOR LIMITED 2011-01-18 → 2011-01-20

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

MHA

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The financial position of the Group, its cash flows and liquidity position are set out in these financial statements. As at 31 December 2024, the Group had cash and cash equivalents of £64,000 working capital facility of £500,000 which have been fully utilised. As at the date of this report cash balances were approximately £11,000. The Company expects to raise additional cash and equity capital and will be able to fund future operations. There are material uncertainties, but the Directors expect to manage. The directors are of the opinion that the Group is able to continue as a going concern.”

Group structure

1. ATERIAN PLC · parent
   1. Eastinco Limited 100% · Rwanda · Mining & exploration
   2. Eastinco ME Ltd 100% · UK · Mining & exploration
   3. Aterian Resources Ltd 100% · UK · Mining & exploration
   4. Musasa Mining Ltd 85% · Rwanda · Mining & exploration
   5. Kinunga Mining Ltd 70% · Rwanda · Mining & exploration
   6. Atlantis Minerals Ltd 100% · Rwanda · Mining & exploration
   7. Azrar Resources S.A.R.L.A.U. 100% · Morocco · Mining & exploration
   8. Bwaat Co Limited 100% · Isle of Man · Dormant
   9. Atlantis Minerals (Pty) Ltd 90% · Botswana · Mining & exploration
   10. Future Frontier Limited 100% · Rwanda · Dormant
   11. Stratum Limited 100% · Rwanda · Dormant

Significant events

• “On 22 April 2025, the Company announced that it had completed a small private placement of 200,000 new ordinary shares of 10p each at a price of 70 pence per share, raising gross proceeds of £140,000.”

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

Filings

12

last 12 months

Capital events

10

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

  -12.3%

  £73,000 → £64,000

• Net assets

  -32.3%

  £3,418,000 → £2,314,000

• Employees

  -12.5%

  24 → 21

• Operating profit

  -54.6%

  -£1,008,000 → -£1,558,000

• Profit before tax

  -52.3%

  -£1,062,000 → -£1,617,000

• Wages

  +47.6%

  £290,000 → £428,000

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