Rockfire Resources plc
Rockfire Resources plc is an AIM-quoted mineral exploration company (incorporated in England and Wales) exploring for base metals, precious metals and critical minerals, primarily through its wholly-owned Molaoi zinc/lead/silver/germanium project in Greece (held via subsidiary Hellenic Minerals S.A.) and exploration permits in Queensland, Australia (held via subsidiary BGM Investments Pty Ltd). The Group has not yet progressed to development or production at any project and is pre-revenue, funding exploration through equity placings. Molaoi is being advanced towards a scoping/pre-feasibility study, with Rockfire positioning itself as a prospective European supplier of germanium, a critical mineral.
10 annual reports read, FY2016 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (10)
FY2026Next report expected 4 Jun 2027
- Open the reportJSONComing soonSixty seconds on the FY2025 report
Rockfire Resources plc explores for zinc, silver, germanium and other metals, mainly at its Molaoi project in Greece, with permits in Queensland, Australia. It has no revenue yet. In the year to 31 December 2025 it made a loss of £1.3m, narrower than the £2.0m loss the year before. The report does not spell out why the loss narrowed. Most exploration spending is counted as an investment in the projects rather than a yearly cost. The figures include a one-off gain of £96,200 from settling the final payment for the Greek subsidiary that holds Molaoi. Cash at the year end was £1.1m, up from £936k, and the company has no borrowings. It raised £2.2m from new shares during the year and a further £3m in January 2026. No dividend was recommended. Management said the year ahead will focus on exploring and expanding Molaoi and moving it towards production. The auditor gave a clean opinion but warned of a "material uncertainty" over whether the company can keep going: it needs more money from shareholders over the next 12 months, which is not guaranteed.
From the reportevery line sits on the page it namesOne-offs in the year£96k credit: Gain on remeasurement/fair value of deferred consideration (Hellenic Minerals)
page 33What management saidThe year ahead will focus on the continued exploration and expansion of the Molaoi Project in Greece, as well as development towards production at Molaoi.
page 6After the year end8 January 2026: completed placing of 2,307,692,298 new ordinary shares at 0.13p raising £3m before expenses; directors Gordon Hart (£10,090) and Nicholas Walley (£39,910) participated.
page 60The dividendThe Directors are unable to recommend payment of a dividend for the year ended 31 December 2025 (2024: £Nil).
page 15Going concern and the auditAuditor PKF Littlejohn LLP gave an unqualified (true and fair) opinion on the FY2025 financial statements but drew attention to a material uncertainty related to going concern (not modified in respect of this matter): the Group will require further funds over the next 12 months to undertake planned exploration and meet minimum expenditure commitments; the going concern basis is supported by a cash flow forecast to 31 December 2027 assuming additional equity funding (not guaranteed) is secured, and by the £3m placing completed 8 January 2026. Key audit matters: (1) carrying value and capitalisation of intangible exploration assets (£6,428k, 2024: £5,657k); (2) recoverability of investments and intragroup balances at Parent Company level (investments £1,030,641/£1,030,640; intragroup loans £7,685k/£6,231k net of ECL).
page 28The risks it names first- Material uncertainty related to going concern — Group needs further equity funding over the next 12 months to meet exploration and minimum licence expenditure commitments; funding not guaranteed.p.28
- Contractor and supplier risk — dependence on external, independent drilling contractors and consultants.p.8
- Exploration risk — speculative exploration activities with no certainty of defining economic mineral deposits or realising project value.p.9
- Resource risk — mineral resources are in the lowest JORC confidence category (Inferred) and subject to uncertainties in geological and commodity price assumptions.p.9
Read from C001110-AR-2025-ch.
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