Diatreme Resources (DRX) Q2 2025 TU earnings summary

Executive summary

• Major Project Status awarded to Northern Silica Project, the only such project in Queensland, enhancing federal support and permitting efficiency.

• Upgraded Mineral Resource Estimate for Si2 Deposit, with Measured Resource up 278% to 187.5Mt, total Si2 Deposit at 272.5Mt, and global silica sand resources exceeding 500Mt.

• Annual General Meeting held with all resolutions passed; Board strengthened with new appointments and commitment to Indigenous engagement.

• Successful takeover of Metallica Minerals Limited, consolidating 100% ownership of Cape Flattery Silica Project.

Financial highlights

• Cash and liquids at 30 June 2025 totaled $3.8M, with an additional $11.3M in silica projects JV, for total cash of $15.1M.

• Net cash from operating activities for the quarter was $28k; net cash used in investing activities was $(278)k; net cash used in financing activities was $(60)k.

• Payments to related parties during the quarter totaled $165k, including director fees and consultancy services.

• Estimated quarters of funding available is 15.8, indicating strong liquidity.

Outlook and guidance

• September quarter focus includes finalizing technical studies and EIS for NSP, completing PFS and maiden Ore Reserves, and advancing community engagement.

• Ongoing negotiations for port access and mining agreements, and further exploration drilling at NSP.

• Continued review of Cape Flattery Silica Project for synergies and infrastructure sharing.

• Cyclone Zircon Project testwork to be completed in Q3 2025, with potential for improved zircon and TiO2 recovery.