American West Metals (AW1) H2 2025 earnings summary

Executive summary

• Advanced copper and critical metals projects in North America, achieving major milestones at Storm (Nunavut), West Desert (Utah), and Copper Warrior (Utah).

• Storm Project saw an upgraded JORC Mineral Resource Estimate (MRE) and a Preliminary Economic Analysis (PEA) confirming robust economics and long-life mine potential.

• Strategic partnerships with Taurus Mining Royalty Fund and Ocean Partners secured project funding and offtake agreements for Storm.

• West Desert achieved a maiden JORC resource for indium and gold, highlighting its global significance for critical metals.

• Copper Warrior continued exploration, targeting high-priority structures similar to the Lisbon Valley Copper Mine.

Financial highlights

• Net loss after tax for FY2025 was $20.5 million, compared to a restated loss of $20.2 million in FY2024.

• Cash and cash equivalents at year-end were $9.3 million, up from $5.1 million in the prior year.

• Total assets increased to $10.9 million, with net liabilities of $4.4 million at year-end.

• Share capital raised during the year totaled $16.7 million, with additional funds from royalty financing and placements.

• No dividends declared or paid.

Outlook and guidance

• Pre-Feasibility Studies underway at Storm, with continued resource growth and exploration planned.

• Focus on advancing permitting, community engagement, and environmental studies to support project development.

• Ongoing efforts to secure additional funding and strategic partnerships to support future growth.