Diatreme Resources (DRX) Q4 2025 TU earnings summary

Executive summary

• Completed sale of Clermont Copper/Gold Project to Moonlight Resources, receiving $3.25M in shares and $250K cash, and retaining a 16.76% stake in Moonlight.

• Submitted Draft Environmental Impact Statement (DEIS) for Northern Silica Project, advancing regulatory approvals.

• Advanced metallurgical testwork at Cyclone Zircon Project, achieving improved recoveries for zircon and titanium.

• Maintained active community engagement and sponsorships in Hope Vale and Cooktown.

Financial highlights

• Cash and liquids at quarter end totaled $2.3M, with an additional $5.4M in the silica projects JV, for total cash of $7.7M.

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

• Net cash used in operating activities for the quarter was $(517)K; net cash from investing activities was $17K.

• Payments to related parties during the quarter totaled $168K.

Outlook and guidance

• Focus for March 2026 quarter includes completion of Pre-Feasibility Study and Maiden Ore Reserves for Northern Silica Project.

• Ongoing negotiations for port access and mining agreements for silica projects.

• Further assessment of Cyclone Zircon Project value realization options, including sale or joint venture.