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Critical Metals PLC on Friday reported zero revenue and narrowed pretax loss in its full-year results as it reaffirmed target of operating the Molulu mine. The Democratic Republic of the Congo-focused, London-domiciled mine developer reported zero revenue for the year ended June 30, unchanged from the year before. Critical Metals said pretax loss narrowed 13% to £2.4 million from £2.8 million. The company had halted mine development and processing operations at its Molulu project during financial 2025 to evaluate planned drilling targets. The company noted that delays in closing its share restructuring further delayed mining activities at Molulu. Critical Metals’ largest shareholder NIU Invest SE had increased its shareholding in the company to 70% after what Critical Metals described in July as an ‘urgent need of capital’ in order to continue to trade while developing Molulu. The company said it introduced cost reduction measures, including voluntary salary reductions at the subsidiary and executive levels. Critical Metals said its total administrative expenses fell 28% to £1.6 million from £2.2 million. The company said it will focus on strengthening geological data analysis at Molulu to deliver a resource estimation and initiate a preliminary economic assessment ‘to evaluate project viability and future development, subject to the results’. Critical Metals expects its first sales to occur in mid 2026. Chairman Kelvin Williams said that while Critical Metals will continue to focus on Molulu, it will also consider other mining opportunities ‘to build shareholder value and greater cash liquidity in the company’. Williams said that the company ‘will look to raise additional funds to acquire facilities in the critical metals sector’. ‘The board appreciates the support the Company has received from its shareholders and creditors during what can only be called a very difficult period. We have said all along that the Molulu site has much to offer, and we are pushing ahead to release its potential,’ Williams added. Shares in Critical Metals traded flat at 9.65 pence on Friday afternoon in London. Its stock has fallen 42% over the past year. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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