Unico Silver (USL) H2 2025 earnings summary

Executive summary

• Achieved significant exploration milestones in Argentina, with high-grade silver discoveries at Cerro León and Joaquin projects, positioning the group as a leading emerging silver developer on the ASX.

• Completed major acquisitions, including full ownership of Sierra Blanca and Minera Joaquin, consolidating key assets and expanding the project pipeline.

• Raised $30 million in FY2025 and an additional $25 million in August 2025 to fund drilling, resource upgrades, and development studies.

• Launched PLUS 150 and BEYOND 300 strategies to target 150 million ounces of pit-constrained silver equivalent and expand to over 300 million ounces through sulphide resource growth.

Financial highlights

• Reported a net loss after tax of $24.0 million for FY2025, compared to a $2.8 million loss in FY2024, mainly due to increased exploration expenditure.

• Revenue from interest, investment, and other income totaled $2.75 million, including a $1.18 million gain from bond trading and $970,000 from the sale of Fisher Resources Pty Ltd.

• Cash and cash equivalents at year-end were $12.5 million, up from $5.1 million in the prior year.

• Equity increased to $10.8 million from $4.1 million, reflecting capital raisings and share-based payments.

Outlook and guidance

• 2026 will focus on transitioning from resource definition to project development, with updated JORC Mineral Resource Estimates and a maiden Scoping Study for Cerro León and Joaquin.

• Drilling will target high-margin, pit-constrained oxide ounces and deeper sulphide extensions to build scale.

• The new RIGI regime in Argentina is expected to accelerate permitting and enhance project economics.