Tungsten West Balance Sheet

Financials in millions GBP. Fiscal year is April - March.

Millions GBP. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Cash & Equivalents	1	0.02	1.58	3.44	28.76	3.5
Short-Term Investments	-	2.77	2.63	4.46	2.34	-
Cash & Short-Term Investments	1	2.78	4.21	7.9	31.1	3.5
Cash Growth	2197.86%	-33.92%	-46.64%	-74.61%	788.57%	28.57%
Accounts Receivable	3.14	0.01	0.06	0.3	0.15	0.03
Other Receivables	-	0.07	0.08	0.59	0.32	0.49
Receivables	3.14	0.08	0.14	0.89	0.47	0.53
Inventory	0.03	0.03	0.03	0.11	0.16	-
Prepaid Expenses	-	0.15	0.04	0.82	1.02	0.02
Total Current Assets	4.17	3.04	4.42	9.72	32.74	4.04
Property, Plant & Equipment	11.26	11.44	21.16	21.08	10.21	5.98
Goodwill	1.08	1.08	1.08	1.08	1.08	1.08
Other Intangible Assets	3.87	3.91	3.98	4.01	3.92	3.84
Long-Term Deferred Tax Assets	1.37	1.37	1.38	1.39	1.4	1.07
Other Long-Term Assets	13.6	13.24	11.06	5.15	8.37	10.06
Total Assets	35.34	34.07	43.08	42.42	57.71	26.07
Accounts Payable	2.15	1.18	0.43	0.54	0.69	0.49
Accrued Expenses	-	1.39	1.06	1.77	3.56	0.37
Short-Term Debt	66.64	24.68	11.59	-	-	-
Current Portion of Leases	0.1	0.09	0.11	0.11	0.19	0.08
Current Income Taxes Payable	-	-	0.26	-	-	-
Other Current Liabilities	-	0	-	0.02	0.03	0.63
Total Current Liabilities	68.89	27.34	13.45	2.45	4.48	1.56
Long-Term Debt	-	-	-	-	-	10.31
Long-Term Leases	1.86	1.87	1.8	1.9	1.44	1.42
Long-Term Deferred Tax Liabilities	1.37	1.37	1.38	1.39	1.4	1.07
Other Long-Term Liabilities	4.15	4.01	5.14	5.7	9.53	9.96
Total Liabilities	76.26	34.59	21.77	11.44	16.85	24.33
Common Stock	1.89	1.89	1.87	1.81	1.79	0.01
Additional Paid-In Capital	51.95	51.95	51.95	51.88	51.61	12.33
Retained Earnings	-95.08	-54.68	-32.76	-23.81	-14.19	-11.41
Comprehensive Income & Other	0.32	0.32	0.26	1.1	1.65	0.82
Shareholders' Equity	-40.92	-0.52	21.31	30.98	40.87	1.74
Total Liabilities & Equity	35.34	34.07	43.08	42.42	57.71	26.07
Total Debt	68.6	26.64	13.5	2.02	1.63	11.81
Net Cash (Debt)	-67.6	-23.86	-9.28	5.88	29.46	-8.31
Net Cash Growth	-	-	-	-80.04%	-	-
Net Cash Per Share	-0.36	-0.13	-0.05	0.03	0.25	-0.15
Filing Date Shares Outstanding	188.73	188.73	187.07	180.55	179.37	68.56
Total Common Shares Outstanding	188.73	188.73	187.07	180.55	179.37	68.56
Working Capital	-64.72	-24.31	-9.03	7.27	28.26	2.48
Book Value Per Share	-0.22	-0.00	0.11	0.17	0.23	0.03
Tangible Book Value	-45.87	-5.51	16.25	25.89	35.87	-3.18
Tangible Book Value Per Share	-0.24	-0.03	0.09	0.14	0.20	-0.05
Land	5.19	5.19	5.19	5.19	4.45	4.42
Machinery	0.55	0.55	0.57	0.57	0.21	0.04
Construction In Progress	16.43	16.43	16.41	13.72	3.9	-

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.