FIRST CLASS METALS PLC

• ⚠

  Material uncertainty over going concern

  The Group's reliance on a successful fundraising presents a material uncertainty that may cast doubt on the Group's ability to continue to operate as planned and to pay its liabilities as they fall due for a period not less than twelve months from the date of this report.

1. FIRST CLASS METALS PLC 2022-02-28 → present
2. FIRST CLASS METALS LIMITED 2021-01-26 → 2022-02-28

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

Royce Peeling Green Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The Group's reliance on a successful fundraising presents a material uncertainty that may cast doubt on the Group's ability to continue to operate as planned and to pay its liabilities as they fall due for a period not less than twelve months from the date of this report.”

Group structure

1. FIRST CLASS METALS PLC · parent
   1. First Class Metals Canada Inc. 100% · Canada · Mining of other non-ferrous metal ores

Significant events

• “On 25 February 2025, The Seventy Ninth Group Limited completed an equity injection of approximately £548,000 and full repayment of all outstanding Company debt. under the strategic investment agreement announced on the 18 December 2024.”
• “Acquisition of the Kerrs Gold Project with a historic NI43-101 resource.”
• “In June 2024, FCM completed the sale of the McKellar and Enable properties for £270,000 in cash to the UK-based Seventy Ninth Group Limited ("79TH Group").”
• “In March 2024 FCM and Broken Rock Resources Inc. entered into an option – buyout agreement, in respect to the Quinlan property.”

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

8

last 24 months

Officers appointed

1

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

  +57%

  £140,802 → £221,071

• Net assets

  -19.6%

  £3,096,576 → £2,489,822

• Employees

  0%

  4 → 4

• Operating profit

  +8.8%

  -£1,461,347 → -£1,333,368

• Profit before tax

  +13.9%

  -£1,578,929 → -£1,359,957

• Wages

  -24.9%

  £266,725 → £200,414

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