ActivEX (AIV) Q3 2025 earnings summary

Executive summary

• Exploration advanced at Doonkuna and Aramac REE projects, with new tenement application accepted and fieldwork planned for mid-2025.

• High-grade gold intercepts confirmed at Mt Hogan, with a 2,416m RC drilling program completed.

• Georgetown Gold and Esk Copper & Gold projects progressed through data compilation and target generation; no fieldwork at Esk.

• Pentland Gold Project under review for potential divestment; company to dilute equity.

Financial highlights

• Cash at 31 March 2025: $170,000, down from $223,000 at previous quarter end.

• $350,000 loan repaid during the quarter; $3.2 million undrawn from $5 million Star Diamond facility.

• Net cash used in operating activities: $(147,000) for the quarter, $(409,000) for nine months.

• Net cash from investing activities: $444,000 for the quarter, $876,000 for nine months.

• Payments to related parties (director fees): $40,000 for the quarter.

Outlook and guidance

• Estimated 17.8 quarters of funding available based on current cash and undrawn facilities.

• Fieldwork at Aramac REE scheduled for June–July 2025, pending CEI funding outcome.

• Ongoing efforts to expand tenure and exploration at Doonkuna and Aramac REE projects.