Terra Metals (TM1) H2 2025 earnings summary

Executive summary

• Advanced the 100%-owned Dante polymetallic project in Western Australia, culminating in a maiden Mineral Resource Estimate (MRE) post-year-end, highlighting significant titanium, vanadium, copper, gold, and PGM resources.

• Completed Phase 2 drilling (over 17,000m), confirming high-grade mineralisation and continuity at Dante Reefs, and commenced Phase 3 targeting resource expansion.

• Acquired HRM Exploration Pty Ltd, adding 618km² of contiguous tenements to the Dante Project.

• Raised $4 million and announced a further $15 million placement to support ongoing exploration and development.

Financial highlights

• Net loss for the year ended 30 June 2025 was $5,944,351, compared to $4,891,907 in 2024, mainly due to increased exploration and evaluation expenses.

• Exploration and evaluation expenses rose to $4,374,842 (2024: $3,897,900).

• Cash reserves at 30 June 2025 were $3,271,260 (2024: $648,420); net assets increased to $7,506,344 (2024: $4,838,240).

• Net cash outflows from operating activities were $5,869,770 (2024: $3,943,836).

• Basic and diluted loss per share improved to $(0.01) from $(0.02) year-over-year.

Outlook and guidance

• Plans to expand the Dante Project resource through additional infill and extensional drilling and updated MRE.

• Focus on metallurgical optimisation and completion of a Scoping Study to assess mining viability.

• Continued divestment or partnership for non-core projects to focus resources on Dante.