Black Canyon (BCA) H2 2025 earnings summary

Executive summary

• Achieved transformative exploration success, notably high-grade manganese and iron discoveries at the 100% owned Wandanya Project in the Pilbara, WA.

• Released a robust Scoping Study for KR1 and KR2 deposits, outlining a 16-year mine life and strong financial returns.

• Expanded project portfolio to over 1,988km², controlling the largest manganese Mineral Resources in Western Australia at 314Mt @ 10.5% Mn.

• Raised significant capital, ensuring funding for ongoing exploration and development.

Financial highlights

• Reported net profit of $378,754 for FY2025, reversing a prior year loss of $1,993,629.

• Total assets increased to $10.2 million from $6.3 million year-over-year.

• Cash and cash equivalents rose to $2.2 million from $703,622 year-over-year.

• Exploration and evaluation assets increased to $7.9 million, reflecting ongoing project investment.

• No dividends declared or paid for the year.

Outlook and guidance

• Focus for FY2026 is on unlocking the full potential of the Wandanya Project with extensive drilling and development studies planned.

• Continued systematic de-risking and advancement of manganese and iron systems.