Globe Metals & Mining (GBE) H2 2026 earnings summary

Executive summary

• Advanced the Kanyika Niobium Project in Malawi from feasibility to early development, completing the Bankable Feasibility Study (BFS) and commencing early works and community engagement.

• Strengthened regulatory position with amendments to the mining licence and secured a 12-month extension for mine development commencement.

• Raised A$8.67 million through a two-tranche equity placement, repaid all outstanding loan facilities, and entered FY2027 debt-free.

• Maintained non-binding offtake arrangements and continued engagement with potential financiers and strategic partners.

Financial highlights

• Consolidated net loss after tax for FY2026 was $2.93 million, an improvement from $3.35 million loss in FY2025.

• Cash and cash equivalents at 30 June 2026 were $2.78 million, up from $0.50 million at prior year-end.

• Total assets increased to $39.2 million (FY2025: $35.0 million), with exploration and evaluation expenditure capitalised at $36.1 million.

• No dividends declared or paid during the year.

Outlook and guidance

• Near-term priorities include advancing Kanyika’s physical development, community resettlement, engineering, and securing project funding.

• First production targeted for 2028, with phased ramp-up to full capacity.

• Ongoing discussions with Sinomine regarding a potential transaction for the Kanyika Project.