Amigo Resources (AMGO) H2 2025 earnings summary

Executive summary

• Completed wind down of all lending operations, with subsidiaries entering solvent liquidation by September 2025.

• Scheme of Arrangement concluded, returning £108.2m to creditors, exceeding initial expectations.

• Amigo now exists as a listed shell company with minimal cash, seeking a reverse takeover (RTO) in the mining sector.

• If no RTO is secured, shareholders are unlikely to receive any value upon eventual liquidation.

Financial highlights

• Financial statements prepared on a basis other than going concern due to cessation of trading.

• For the 18 months ended 30 September 2025, reported profit of £70.8m, mainly from intercompany balances waived.

• Cash at period end: £0.7m, with £0.4m earmarked for ongoing costs and RTO search.

• No dividend paid or proposed.

• Share capital increased to 570.4m shares after a placing in April/May 2024.

Outlook and guidance

• Actively pursuing an RTO in the mining sector, supported by a £1.5m convertible loan note capital raise (pending shareholder approval).

• If no viable transaction is achieved, the company will seek to delist and enter voluntary liquidation.