European Green Transition (EGT) booked a loss of just under £600,000 for the six months to June 2025. The company closed out the period with £2.9 million cash in the bank.
During the first half of the year, the company extended its licences for the Olserum rare earths project and the Pajala copper-graphite project, both in Sweden.
It also secured a six-month extension to the Altan Carbon Credit project option agreement at no additional cost. Discussions progress with key stakeholders at Altan continue to assess the near-term revenue potential of the project.
Meanwhile, in the background, discussions with multiple parties regarding the sale and/or partnership of EGT's exploration assets remained ongoing.
The company continues to focus its resources away from natural resources and mining to focus on revenue-generating businesses.
EGT has identified and continues to assess a range of distressed, revenue-generating acquisition targets available at attractive valuations. This is in line with EGT's previously stated strategy to reallocate its resources towards acquiring revenue generating businesses.
EGT has also broadened its scope to evaluate opportunities in sectors outside the green economy.
"We continue to execute on our strategy to reallocate our resources away from exploration and mining towards acquiring and transforming distressed, revenue-generating businesses,” said Cathal Friel, EGT’s executive chairman.
“Over the past six months we have made significant progress in identifying and engaging with potential acquisition targets. We continue to see a range of promising acquisition opportunities across the green economy and other sectors. Given our strong track record of transforming distressed businesses, we will evaluate these opportunities and prioritise deals where we can deliver sustainable, long-term returns for our shareholders. I recently stepped into the role of executive chairman of EGT, and I look forward to supporting the company in its next phase of growth. As co-founder and the largest shareholder, my interests are fully aligned with those of our shareholders, and I am confident that the team can leverage its extensive M&A experience to replicate our success of transforming small-cap companies through M&A."
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Lots to look forward to from European Green Transition, given its strong cash balance and experienced management team. The attractions of Olserum continue to grow, against a broadly favourable economic and market backdrop – demand for rare earths continues high, and mining sector assets in general are becoming more desirable. So, expect deals in the coming months, either on existing assets, or in regard to new ones.
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