BRAZIL IRON LIMITED

• ⚠

  Material uncertainty over going concern

  The group continues to face material uncertainties in respect of going concern and the directors' going concern assessment is set out in note 3.3 to the financial statements.

1. BRAZIL IRON LIMITED 2014-11-11 → present
2. OAKMONT RESOURCES LIMITED 2012-02-08 → 2014-11-11

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

FRS 102

Reporting scope

Consolidated group

Auditor

Kreston Reeves Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The group continues to face material uncertainties in respect of going concern and the directors' going concern assessment is set out in note 3.3 to the financial statements.”

Group structure

1. BRAZIL IRON LIMITED · parent
   1. Brazil Iron Trading Limited 100% · United Kingdom · Intermediate holding and management company
   2. Brazil Iron Mineração Ltda 100% · Brazil · Early stage mining exploration
   3. Oakmont Finance Limited 100% · Isle of Man · Administrative and treasury

Significant events

• “In 2024, Brazil Iron continued to solidify its leadership in sustainable mining and green steel innovation. According to the National Mining Agency, the company remained one of the largest foreign investors in mineral research in Brazil. This commitment led to a significant increase in mineral resources, reaching more than 1.5 billion tonnes as December 2024.”
• “A Bankable Feasibility Study is currently underway and scheduled for completion in the first quarter of 2026.”
• “In September 2023 Brazil Iron received a letter of claim from law firm Leigh Day representing 103 claimants from local communities. Our case to move jurisdiction of the claim to Brazil has been heard by U.K. courts in December 2024. On 14 March 2025, the High Court ruled that the claims could proceed in the English courts.”
• “So far in 2025, the company took out a total of US $45,500,000 in loans from Lorito Doraline (Guernsey) Limited.”
• “In Brazil, our licensing team has secured the full unlimited mining licence for the 5 tenements covering the main mine area. They have also completed the application for the unlimited environmental licence and expect the licence issuance in summer 2026.”
• “In June 2025 the geology team announced a significant increase in Brazil Iron's NI 43-101 compliant Mineral Resource Estimate for its flagship iron ore project, located across the Piata, Abaíra, and Jussiape Municipalities in Bahia State, Brazil. The total Mineral Resource now stands at 1.7 billion tonnes, up from 1.37 billion tonnes.”
• “During the year ended 31 December 2025, the Company entered into loan agreements with Lorito Doraline (Guernsey) Limited totalling US $45,500,000.”
• “On 18 December 2025, the repayment date for all outstanding loans was extended to 31 December 2026.”
• “As consideration for loan arrangement services, the Company issued 6,335,618 ordinary shares of Brazil Iron Limited to the lender. In addition, during the year, the Company issued 153,592,432 ordinary shares as settlement of late penalty fees on outstanding loans; 25,057,897 ordinary shares as additional loan arrangement fees; and 64,606,250 ordinary shares as fee for the bank guarantees provided.”

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

Filings

17

last 12 months

Capital events

11

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

  +4,727.2%

  £507 → £24,474

• Cash

  +161.6%

  £795,592 → £2,081,104

• Net assets

  -21.9%

  -£135,228,957 → -£164,845,660

• Employees

  +1.6%

  127 → 129

• Profit before tax

  -49.1%

  -£29,879,909 → -£44,543,758

• Wages

  -16.7%

  £3,199,123 → £2,665,251

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