BWA Group PLC (AQSE: BWAP), the mining and exploration investment company, has announced three material developments on 13 November 2026: the acquisition of the remaining 10% interest in BWA Resources (UK) Ltd for £10,000, an extension and increase of its Chairman's unsecured loan facility to a maximum of £2,000,000, and the relinquishment of its remaining Winterhouse licence claims in Canada. The updates follow a broader restructuring disclosed on 15 October 2026 and reflect the company's focus on its Cameroon interests and Isoukustouc licence in Canada. Investors will note that two of the three developments constitute related party transactions under Aquis Growth Market Access Rules.

Key Points

  • BWA Group PLC (AQSE: BWAP) is a mining and exploration investment company with assets in Cameroon and Canada.
  • BWA has acquired the remaining 10% of BWA Resources (UK) Ltd from retired director Richard Howe for £10,000, making it a wholly owned subsidiary.
  • Chairman Jonathan Wearing's unsecured, interest-free loan facility has been extended to a maximum of £2,000,000 with the term extended by one year to 30 June 2028; drawings currently stand at £1,754,000.
  • Investors should watch for the publication of audited accounts for the year to 30 June 2026, which will include a full write-down of the Winterhouse licence value.

BWA Resources (UK) Ltd Becomes Wholly Owned Following £10,000 Purchase from Retired Director Richard Howe

BWA Group's interests in Cameroon are held indirectly through BWA Resources (UK) Limited. Following the retirement in June 2026 of Cameroon-resident director Richard Howe and the restructuring announced on 15 October 2026, the company purchased Mr Howe's 10% shareholding in BWAR for £10,000. The transaction makes BWAR a wholly owned subsidiary of BWA Group. Because Mr Howe was a director, the purchase constitutes a related party transaction under Aquis Growth Market Access Rules. The board concluded, having exercised reasonable care, skill and diligence, that the transaction is fair and reasonable as far as shareholders are concerned.

Winterhouse Licence in Canada Relinquished as KOTN Focuses on Isoukustouc

BWA's wholly owned Canadian subsidiary, Kings of the North Corp, completed a field mapping and sampling programme at the Isoukustouc licence, as previously announced on 26 February 2026. With Isoukustouc now the focus of KOTN's activities, the company has decided to allow the remaining non-core Winterhouse claims to expire as they fall due. The decision reflects the assessed commercial value of the area, its remote location, and limited operating windows attributable to its northerly position. A full write-down of the remaining Winterhouse value will be recorded in the audited accounts for the year to 30 June 2026, which the company states are soon to be published.

Chairman Jonathan Wearing Extends Interest-Free Loan Facility to £2m Through June 2028

BWA Group's Chairman, Jonathan Wearing, has agreed to increase the maximum aggregate of his unsecured, interest-free loan facility from the previously announced £750,000 to £2,000,000, and to extend the term by one year to 30 June 2028 on the same terms. The announcement discloses that drawings under the facility reached £1,370,000 at the company's year end and have since risen to £1,754,000. Mr Wearing is described as continuing to support the group whilst the company pursues fresh inward investment. The increase and extension constitute a related party transaction; the board, excluding Mr Wearing, concluded the arrangement is fair and reasonable for shareholders.