Black Rock Mining (BKT) investor relations material

Executive summary

• Reported a consolidated net loss after tax of AUD 4,023,039 for the half-year ended 31 December 2025, an improvement from AUD 5,547,145 in the prior corresponding period.

• Significant operational progress at the Mahenge Graphite Project, including commencement of early works and a formal groundbreaking ceremony attended by key stakeholders.

• Raised AUD 10 million via placement and AUD 4 million through an oversubscribed share purchase plan, strengthening funding for project development.

• Appointed a new Company Secretary and completed all AGM resolutions by poll.

Financial highlights

• Net assets increased to AUD 65,045,369 at 31 December 2025 from AUD 56,327,681 at 30 June 2025.

• Cash and cash equivalents rose to AUD 9,461,212 from AUD 1,880,726 at the previous year-end.

• Basic and diluted loss per share improved to (0.21) cents from (0.42) cents year-over-year.

• Total equity attributable to owners increased to AUD 66,596,087.

• Issued capital grew to AUD 141,793,886 with 2,147,724,265 shares on issue.

Outlook and guidance

• Final Investment Decision (FID) for Mahenge Project contingent on securing project equity funding of approximately USD 111 million.

• Directors remain confident in the Group’s ability to continue as a going concern over the next 12 months.

• Ongoing efforts to secure both debt and equity funding, with multiple agreements in place but subject to conditions.