EAST STAR RESOURCES PLC

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  Material uncertainty over going concern

  Therefore, the above matters indicate the existence of a material uncertainty related to going concern, arising from the Group's pre-revenue exploration stage and the uncertainty surrounding the timing of future revenue generation. Our opinion is not modified in respect of this matter and the accounts do not include any adjustment which would be required if the company was determined to not be a going concern.

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  Going-concern uncertainty disclosed

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers

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.

1. EAST STAR RESOURCES PLC 2021-03-03 → present
2. EAST STAR RESOURCES LIMITED 2021-01-27 → 2021-03-03
3. CAWMED RESOURCES LIMITED 2020-11-17 → 2021-01-27

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Kreston Reeves Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Therefore, the above matters indicate the existence of a material uncertainty related to going concern, arising from the Group's pre-revenue exploration stage and the uncertainty surrounding the timing of future revenue generation. Our opinion is not modified in respect of this matter and the accounts do not include any adjustment which would be required if the company was determined to not be a going concern.”

Group structure

1. EAST STAR RESOURCES PLC · parent
   1. Discovery Ventures Kazakhstan Limited 100% · Kazakhstan · Mineral exploration
   2. Chu Ili Resources Itd 80% · Kazakhstan · Mineral exploration
   3. Rudny Resources Itd 80% · Kazakhstan · Mineral exploration
   4. Copperland Limited 100% · Kazakhstan · Mineral exploration
   5. MVLKAZ Holdings Limited 100% · United Kingdom · Holding company
   6. MVLKAZ Limited 100% · Kazakhstan · Mineral exploration

Significant events

• “US$25 million earn-in and joint venture agreement with a subsidiary of Endeavour Mining PLC for gold exploration.”
• “Staged farm-in agreement with Hong Kong Xinhai Mining Services Limited for the development of the Verkhuba Copper Deposit.”
• “£1.8 million strategic investment by Endeavour, comprising a share subscription and convertible loan note.”
• “Convertible Loan Note Conversion on 10 February 2026 into 74,391,304 ordinary shares.”
• “Xinhai Mining Joint Venture Agreement formalised on 19 March 2026 for the development of the Verkhuba Copper Deposit, with Xinhai funding all costs to production.”
• “Acquisition of new exploration licence encompassing the remaining part of the IP anomaly north of the Rulikha deposit in October 2025.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

12

last 12 months

Capital events

10

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.