Empire Metals AIM:EEE
- Incorporated
- British Virgin Islands
- Chief executive
- Shaun Bunn
- Employees
- 7
- Reports in
- GBP
Mineral exploration company focused on the Pitfield project in Western Australia, which it believes hosts a giant titanium dioxide mineral system. Pre-revenue explorer funded by equity placings; value driven by drilling results and metallurgical progress.
Read straight from the annual reports
36.6p at close on 5 Oct 2026 · 9 reported years, 2017–2025
| Line | FY201712/17 | FY201812/18 | FY201912/19 | FY202012/20 | FY202112/21 | FY202212/22 | FY202312/23 | FY202412/24 | FY202512/25 | FY2026unreported |
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| Exceptional items | — | — | — | — | — | — | — | |||
| Net finance cost | — | |||||||||
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| Dividend per share | — | — |
GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
5 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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Administrative expenses as % of total assets fell from 33.7% (2024) to 19.9% (2025)
KPI table: admin expenses as a percentage of total assets 19.9% (2024: 33.7%), driven by total assets increasing faster than admin spend.
page 6One-off cash bonus payments substituting for share options
£808,334 aggregate cash bonuses paid to directors in September 2025 in lieu of share options that could not be granted during a closed period, inflating short-term benefits/admin costs versus a normal year.
page 55£1.4m charge: Impairment of intangible exploration assets (Gindalbie licence non-renewal and Stavely acquisition termination)
page 29The coming 12 months will focus on advancing multiple workstreams in parallel to further de-risk and define the development pathway for Pitfield, including resource expansion drilling, engineering studies, metallurgical optimisation and mining studies contributing to a Scoping Study.
page 5Formal Note 27 states 'There are no events after the reporting date.' However, the Chairman's Report (dated 20 March 2026) separately discloses the Group's cash position as at 20 March 2026 was £8.4 million.
page 57The Directors do not recommend the payment of a dividend for the year (31 December 2024: £nil).
page 6Unmodified/unqualified audit opinion from PKF Littlejohn LLP (true and fair view). Auditor concluded no material uncertainty over going concern after reviewing cash flow forecasts to 31 December 2027; Group materiality set at £342,000 (2% of net assets), performance materiality £274,000. Key Audit Matter: classification and valuation of intangible exploration assets and investments (£7,117,872 carrying value).
page 24- Environmental risk — regulatory approvals, permits and potential new/amended environmental laws in operating jurisdictions.p.9
- Exploration and mining risk — speculative nature of exploration; deposits may not contain economically recoverable volumes; project delays from geological, technical or regulatory factors.p.9
- Reserve and resource estimates risk — estimates are based on limited sampling and may require revision; no assurance minerals can be recovered or brought into profitable production.p.9
- Volatility of commodity prices — fluctuations in global titanium demand/prices could reduce future cash flows or lead to delay or abandonment of Pitfield.p.9
Read from C000419-AR-2025-website.
8 annual reports read, FY2018 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Company website (8)
FY2026Next report expected 18 Jun 2027