Kingsrose Mining (KRM) H2 2025 earnings summary

Executive summary

• Advanced exploration portfolio in Finland and Norway, with significant progress at Penikat and Råna projects.

• Fully funded BHP partnership underpins exploration, with BHP focusing on Finnmark and ceasing Central Finland Alliance.

• Achieved key milestones: Penikat exploration permit (under appeal), 51% earn-in at Råna, and new project acquisitions.

• Released inaugural Sustainability Report, embedding ESG into business model.

• Leadership transition with appointment of Acting CEO, ensuring continuity.

Financial highlights

• Net loss after tax for FY2025: $4.82 million, improved from $7.76 million loss in FY2024.

• Cash and cash equivalents at 30 June 2025: $27.3 million.

• Net assets: $26.3 million (down from $31.0 million in FY2024).

• Exploration and evaluation expenditure: $1.56 million, mainly on Råna and Penikat.

• Corporate and operational support costs: $4.78 million.

Outlook and guidance

• Priorities include advancing Penikat through permitting and initial drilling, and pursuing new high-quality projects.

• BHP to fund US$3.5 million for Finnmark Alliance Year 2, focusing on globally significant discoveries.

• Ongoing assessment of new acquisition and JV opportunities to diversify and grow the portfolio.