Diatreme Resources (DRX) Q3 2025 TU earnings summary

Executive summary

• Major Project Status granted for the Northern Silica Project (NSP), with upgraded resource estimates and EIS nearing final approval.

• Bulk metallurgical testwork confirmed NSP's ability to produce high-purity, low-iron silica sand for PV glass markets.

• Agreement reached to sell Clermont Copper/Gold Project to Moonlight Resources, with Diatreme to become a significant shareholder post-IPO.

• Ongoing community engagement and negotiation protocols with Traditional Owners, including the Gulaal People, to support project development.

Financial highlights

• Net loss for the half year ended 30 June 2025 was $727,754, a 22% improvement year-over-year.

• Cash and liquids at 30 September 2025 totaled $2.81 million, with an additional $7.98 million in the silica projects JV, for total cash of $10.71 million.

• Received $226,894 R&D Tax Incentive Rebate post-quarter for Cyclone Zircon Project.

• Payments to related parties during the quarter totaled $163,000.

Outlook and guidance

• December quarter focus includes submitting NSP's draft EIS, finalizing Pre-Feasibility Study, and continuing exploration drilling.

• Ongoing negotiations for port access and mining agreements with native title holders.

• Sale of Clermont Project expected to complete with Moonlight's ASX listing in late November 2025.

• Further testwork and flowsheet optimization for Cyclone Zircon Project to be completed by end of November 2025.