Globe Metals & Mining (GBE) H2 2025 earnings summary

Executive summary

• Advanced Kanyika Project to pre-construction, adopting a Bankable Feasibility Study (BFS) under Early Contractor Involvement (ECI) to improve cost and schedule certainty.

• Secured preliminary offtake agreements for 100% of Phase 1 production with partners in Europe, North America, and Asia; focus now on converting these to binding contracts.

• Expanded mining licence to include zircon, hafnium, and rare earths, diversifying beyond niobium and tantalum.

• Signed Community Development Agreement, allocating project turnover to local initiatives and establishing the Kanyika Development Trust.

• Strengthened governance and local leadership, including key appointments in Malawi.

Financial highlights

• Consolidated net loss after tax: $3,347K for FY25 (FY24: $3,433K).

• Revenue: $230K (FY24: $259K); total comprehensive loss: $3,347K.

• Cash and cash equivalents at year-end: $496K (FY24: $1,147K).

• Exploration and evaluation expenditure capitalised: $34,281K (FY24: $31,635K).

• No dividends paid or declared.

Outlook and guidance

• Focus on converting MOUs to binding offtake agreements, completing BFS, finalising funding, and commencing early works.

• Reassessing Phase 1 scale to potentially 2-3x original capacity, contingent on offtake and funding alignment.

• Positioned to benefit from strong demand growth in niobium, tantalum, and new critical minerals.