Great Southern Copper (GSCU) H1 2025 earnings summary

Executive summary

• Expanded exploration footprint in Chile with new options for Artemisa and Cerro Negro concessions, adding immediate drill targets and increasing project scale.

• Scout drilling at Teresita and Abundante confirmed mineralisation, and new high-grade copper-silver zones were identified at Cerro Negro.

• Raised over £2m in two fundraises to support ongoing and future exploration activities.

• Seven drill-ready targets identified, with drilling commenced at Viuda and advanced preparations at Mostaza mine.

Financial highlights

• Operating loss for the six months ended 30 September 2024 was £1.01m, compared to £0.60m for the same period last year.

• Loss per share was (0.254)p, compared to (0.247)p year-over-year.

• Cash and cash equivalents at period end were £0.44m, down from £0.50m at 31 March 2024.

• Net assets increased to £3.93m from £3.60m at 31 March 2024.

• Raised £1.25m in June and £0.78m post-period in November through share issues.

Outlook and guidance

• Focus remains on advancing drilling at Mostaza mine and other high-priority targets over the next 6-12 months.

• The company is well funded for current exploration but will require further financing to advance projects beyond current plans.

• Positive long-term outlook for copper and gold markets, with assets positioned to benefit from electrification and green transition trends.