Wolfram Resources stock hit a 52-week high in London trading, but the move came on very light volume. The company’s cash is now below £11,000.
- Wolfram Resources traded at 2.00p, up 14.29%. Volume was 300 shares. Market value printed at £1.64 million.
- Miotal reported £10,367 in cash at March 31, an 88% fall from a year ago, according to its latest interim results. The first-half loss dropped 77%.
- The investor page on the company’s site shows holders with more than 3% together own 95.26% of shares on issue.
Wolfram Resources PLC (LON:WFR) traded at 2.00p in London on Tuesday, up 14.29%. Shares are back to their 52-week high. Only 300 shares changed hands, according to Google Finance, about £6 worth at the Tuesday price. Market cap stands at £1.64 million. The London Stock Exchange runs from 8:00 a.m. to 4:30 p.m. BST, so this dateline landed during open trade.
The real story is how far the share price sits above the cash in the company. Wolfram’s latest filing on June 19 showed just £10,367 cash as of March 31, against a half-year loss of £51,773. Shares traded at 2p on Tuesday, which put the market cap at about 158 times the cash pile, according to Reuters.
| Measure | Latest figure | Reuters calculation / read |
|---|---|---|
| Share price | 2.00p | Hits a 52-week high |
| One-day move | +14.29% | Shares gained 0.25p |
| Reported volume | 300 shares | Roughly £6 worth at 2p |
| Market value | £1.64 mln | Roughly 158 times March cash |
| Cash at March 31 | £10,367 | Dropped 88% from a year ago |
| First-half loss | £51,773 | Down 77% from last year |
Chairman Graeme Muir said in the interim report the company is “operating on a skeleton basis” and the board is “not currently taking a salary” as it searches for an established business in strategic metals or rare earths. Muir also said Wolfram “continued to actively pursue alternative acquisition opportunities” after the period ended. Investegate
The balance sheet gives the real picture beyond daily moves. Wolfram had net liabilities of £116,082 at March 31, flipping from net assets of £82,747 a year ago. In March, the balance sheet listed a £100,000 parent loan.
| Balance-sheet line | Mar. 31, 2026 | Sept. 30, 2025 | Mar. 31, 2025 |
|---|---|---|---|
| Cash and cash equivalents | £10,367 | £4,099 | £84,983 |
| Total assets | £19,168 | £24,844 | £98,126 |
| Trade and other payables | £35,250 | £89,153 | £15,379 |
| Parent-company loan | £100,000 | — | — |
| Net assets/(liabilities) | £(116,082) | £(64,309) | £82,747 |
LSEG data from Investors Chronicle shows the quote is wide, with a 1.50p bid, 2.00p offer, and a 0.50p spread. Average volume stands at 2,730 shares. Free float is 12.31 million shares. The bid-offer gap is one-third of the bid.
Wolfram’s investor page puts its share count at 82,000,100 and says there are 164,000,000 investor warrants outstanding. BPM Trading Ltd shows the biggest stake with 76.64%, followed by Flare Capital Ltd at 11.48%. IG Markets Ltd and First Equity Ltd each hold 3.57%. That brings the total for the four to 95.26%.
Wolfram is listed at Companies House as an active PLC, showing a SIC code of 74990, “non-trading company”. The firm used the name Miotal PLC from November 2024 until March 2025. Find and Update Company Information
Miotal is now called Wolfram Resources and started trading as WFR from April 2, 2025. The move followed the end of its talks to acquire UAE-based SMT Holdings Limited. The company said at the time it would look for other opportunities in strategic metals and rare earth assets.
