Brockman Mining (159) Q2 2025 earnings summary

Executive summary

• Advanced the Marillana Project with MinRes under the agreed Indicative Development Proposal, focusing on infrastructure and approvals for export facilities at Port Hedland's Stanley Point 3.

• Joint Venture with Hancock Prospecting and Roy Hill continues to progress studies and approvals for new port and logistics infrastructure to support iron ore exports.

Project activities

• Confirmatory technical and due diligence studies for Marillana completed, indicating enhanced yields over 45% Fe and product quality above 61.5% Fe.

• Sinter testwork confirms Marillana Fines can substitute for other Australian fines in Chinese steel mill blends.

• Environmental management and monitoring plans updated; social consultation with Traditional Owners commenced as per new WA legislation.

• Infrastructure studies and approvals for haul road, rail spur, and port facilities at Port Hedland are ongoing.

• Ophthalmia Project work program reduced to prioritize Marillana; geological mapping and drilling planned for 2025.

Financial highlights

• Consolidated cash position at 31 December 2024 was HK$2.0 million.

• Net cash used in operating activities for the quarter was HK$5.9 million; year-to-date HK$10.8 million.

• Net cash from financing activities for the quarter was HK$1.9 million; year-to-date HK$8.2 million.

• Estimated quarters of funding available: 3.54, with total available funding of HK$20.99 million.