GreenX Metals (GRX) Q3 2026 TU earnings summary

Executive summary

• Advanced exploration at Tannenberg Copper Project in Germany, confirming significant historical copper and silver mineralisation and outlining ongoing work to support future JORC Code reporting.

• Eleonore North Project in Greenland confirmed outcropping gold and high-grade antimony, with historical tungsten and antimony estimates and a 2026 exploration program being finalised.

• Singapore Court dismissed Poland's application to set aside the ECT award, resulting in a reimbursement of A$1.6 million in legal costs and ongoing enforcement activities.

• Completed a placement raising A$13.6 million to fund exploration, development, and legal proceedings.

Financial highlights

• Raised gross proceeds of A$13.6 million via equity placement during the quarter.

• Cash and cash equivalents at quarter end were A$15.4 million, up from A$2.2 million in the previous quarter.

• Net cash used in operating activities was A$131,000 for the quarter and A$4.4 million for the nine-month period.

• Exploration and evaluation payments totaled A$584,000 for the quarter.

Outlook and guidance

• Ongoing exploration at Tannenberg aims to verify and expand historical estimates, with plans for drilling and in-situ sampling.

• Eleonore North's 2026 program will focus on defining drill targets for gold, tungsten, and antimony, leveraging elevated commodity prices.

• Enforcement of the ECT award against Poland continues, with further legal proceedings expected.