Technology Minerals (TM1) H1 2025 earnings summary

Executive summary

• Achieved profit of £0.9 million for H1 2024, reversing a £1.5 million loss in H1 2023, mainly due to a £1.8 million fair value gain on derivative liabilities.

• Sold Leinster lithium project in Ireland for shares in Critical Metals Corp valued at US$10 million, retaining 861,833 shares.

• Recyclus, 48.35% owned, secured major recycling contracts with Halfords, Glencore, Ocado, and automotive OEMs, and delivered first black mass shipments to Europe.

• Raised £250,000 post-period via share issue and settled £198,493 in professional fees with new shares.

Financial highlights

• Profit for the period: £0.9 million (H1 2023: £1.5 million loss), driven by £1.8 million fair value movement on derivatives.

• Basic EPS: 0.05p (H1 2023: -0.11p).

• Net assets: £16.3 million as of 31 Dec 2024 (30 Jun 2024: £15.4 million).

• Cash at period end: £14,000 (H1 2023: £38,000).

• Convertible loan notes: £3.3 million current, £0.5 million non-current; repayment terms extended, interest rates increased.

Outlook and guidance

• Focus on advancing remaining exploration assets and scaling up battery recycling operations.

• Recyclus expects to increase production and commercial traction, capitalizing on rising demand for battery recycling.

• Company aims to drive growth and create long-term shareholder value.