CZR Resources (CZR) Q2 2025 TU earnings summary

Executive summary

• CZR Resources focused on progressing the $102 million sale of its 85% interest in the Robe Mesa iron ore project to Miracle Iron Resources, with FIRB approval as the final condition precedent and a sunset date extended to 28 February 2025.

• Exploration and development activities were limited during the quarter due to transaction uncertainty, with primary focus on advancing Port of Ashburton export facility plans.

• CZR holds five projects in Western Australia, all in joint venture with Creasy Group, targeting iron ore, gold, and base metals.

Financial highlights

• Cash at end of December quarter was $0.1 million, with $500k of the Yandal Facility drawn post quarter end.

• Net cash used in operating activities for the quarter was $784k; year-to-date (6 months) net cash used was $1.83 million.

• $507k spent on exploration during the quarter, including $276k on Robe Mesa and Ashburton Link.

• Short-term funding facility increased to $2.5 million post quarter end, with $1 million drawn at quarter end.

• Estimated quarters of funding available at quarter end was 0.85, with additional funding secured post quarter end.

Outlook and guidance

• CZR expects to continue operations and meet objectives through existing funds, further debt drawdowns, and potential equity raising if Robe Mesa sale does not complete.

• Settlement of the Robe Mesa sale, if achieved, will provide $102 million (excluding costs and taxes).

• If FIRB approval is not received, CZR is engaging with third parties for alternative funding or transaction structures.