Arrow Minerals (AMD) Q2 2025 TU earnings summary

Executive summary

• Major components of the Niagara Scoping Study completed, including mining, infrastructure, logistics, capital and operating costs, and cashflow estimates.

• Scoping study level estimates for Simandou North Iron Project process plant capital and operating costs finalized.

• All project-based activities in Guinea ceased due to regulatory uncertainty regarding exploration permit status.

• Shares remain in voluntary suspension pending clarification from Guinean authorities on tenement status.

Financial highlights

• Cash balance at 30 June 2025 was $4.5 million.

• Exploration and evaluation expenditure for the quarter totaled $1.0 million.

• No substantive mining production or development activities during the quarter.

• Net cash used in operating activities for the quarter was $2.1 million.

• Estimated quarters of funding available: 2.1.

Outlook and guidance

• Completion and announcement of the Niagara Scoping Study and Simandou North process plant study results are contingent on clarification of exploration permit status.

• The company is actively engaging with Guinean authorities and stakeholders to resolve tenement uncertainties.

• Cost-cutting and restructuring measures implemented to preserve cash, including deferred remuneration for directors and executives.