FireFly Metals (FFM) H1 2026 earnings summary

Executive summary

• Focused on advancing the Green Bay Copper-Gold Project in Newfoundland, with a significant resource upgrade and ongoing economic studies for mine development.

• Entered into a binding agreement post-period to divest its Ontario Gold Assets, including the Pickle Crow Gold Project, to Bellavista Resources, with completion expected in April 2026.

• Raised substantial capital through equity offerings in June and December 2025, strengthening the balance sheet for project advancement.

Financial highlights

• Cash and cash equivalents at 31 December 2025 were $230.0 million, up from $99.9 million at 30 June 2025.

• Consolidated net loss after tax for the half year was $0.7 million, a significant improvement from a $5.7 million loss in the prior period.

• Other income rose to $13.0 million, mainly from fair value gains on financial assets and flow-through share premium income.

• Total assets increased to $543.3 million from $368.1 million at 30 June 2025.

Outlook and guidance

• Preliminary Economic Assessment (PEA) for Green Bay is scheduled for the first half of 2026, with a Feasibility Study in the second half.

• Early works for mine development at Green Bay are planned, subject to permitting and seasonal conditions.

• Funding strategy remains flexible to support upscaled mining operations as studies progress.