District Metals (DMX) Q4 2025 earnings summary

Executive summary

• Focused on exploration and evaluation of mineral properties in Sweden and Canada, with primary assets being the Viken and Tomtebo properties.

• Incurred a net loss of $3.47 million for the year ended June 30, 2025, up from $2.69 million in 2024, mainly due to higher stock-based compensation and increased administrative costs.

• Raised $6 million in a private placement in May 2025 and $4.51 million in February 2024, strengthening liquidity.

• Boliden terminated the Tomtebo earn-in agreement post year-end, impacting future exploration partnerships.

Financial highlights

• Cash and cash equivalents increased to $9.74 million as of June 30, 2025, from $5.86 million in 2024.

• Total assets grew to $19.73 million (2025) from $14.01 million (2024).

• Operating expenses rose to $3.77 million (2025) from $2.38 million (2024), driven by stock-based compensation and listing costs.

• Accumulated deficit reached $67.08 million as of June 30, 2025.

• Basic and diluted loss per share was $0.03 (2025) versus $0.02 (2024).

Outlook and guidance

• Cash reserves and recent financings are expected to fund planned exploration and administrative expenses for the next 12 months.

• Activities on Swedish uranium properties are limited pending the outcome of the national moratorium review.

• Focus on advancing the Viken project, including a preliminary economic assessment, while monitoring regulatory developments.