GBM Resources (GBM) H2 2025 earnings summary

Executive summary

• Focused on exploration and resource growth in the Drummond Basin, with flagship projects Twin Hills, Yandan, and Mt Coolon holding a combined 1.84Moz gold resource as of 30 June 2025.

• Commenced a 9,510m drilling campaign at Twin Hills to expand resources at 309 and Lone Sister deposits and test new targets.

• Completed a $13.0 million placement, repaid all debt, and executed significant board and management changes, including a new CEO.

• Sold 51% of the Mt Morgan Gold-Copper Project for $0.4 million upfront, with up to $3.2 million total consideration and a 1.33% NSR royalty.

Financial highlights

• Net loss for the year ended 30 June 2025 was $3,908,769, improved from a $5,926,950 loss in 2024.

• Loss mainly due to non-cash share-based payments of $3,755,404.

• Profit from discontinued White Dam operations was $2,136,625, including a $2,209,510 royalty provision reversal.

• Cash reserves at 30 June 2025 were $1,845,524, with net assets of $40,818,585.

• Subsequent to year-end, raised $11.5 million and became debt-free.

Outlook and guidance

• Strategy is to create long-term shareholder value through discovery, development, and acquisition of mineral projects.

• Plans further exploration at Drummond Basin projects, with ongoing drilling and resource expansion.

• Risks include exploration uncertainty, permitting, environmental compliance, capital requirements, commodity price volatility, and global financial conditions.