Globe Metals & Mining (GBE) Q1 2026 TU earnings summary

Executive summary

• Achieved significant progress in de-risking and advancing the Kanyika Niobium Project, including regulatory, operational, and funding milestones.

• Secured a 12-month extension under the Mining Development Agreement, allowing mining operations to commence by 27 September 2026.

• Expanded mining licence to include zircon, hafnium, neodymium, and praseodymium, increasing exposure to critical minerals markets.

• Strengthened local leadership with the appointment of Dr. Joseph Mkandawire to the Malawian subsidiary board.

Financial highlights

• Cash at bank at 30 September 2025 was $0.31 million, down from $0.50 million at 30 June 2025.

• Debt (including accrued interest) at quarter end was $5.7 million, up from $4.5 million at 30 June 2025.

• Net cash used in operating activities for the quarter was $588,000; investing activities used $153,000.

• Raised A$6.96 million post-quarter via Tranche 1 of an A$8.67 million private placement.

• Convertible note and loan conversions further improved the capital structure.

Outlook and guidance

• Focus for the next 12 months is on resettlement, site assessments, and advancing early works and permitting for full construction readiness.

• Ongoing partner due diligence and BFS refinement ahead of Final Investment Decision.

• Additional funding expected from Tranche 2 of the placement, subject to shareholder approval.