Goldstone Resources (GRL) H2 2025 earnings summary

Executive summary

• 2025 was a year of transition, focusing on stabilizing operations at the Homase Mine, improving production consistency, and strengthening financial and governance frameworks.

• The company advanced exploration at Homase and initiated early-stage activities in Sierra Leone, identifying initial gold mineralization.

• Additional funding was secured post-year-end, enhancing liquidity and operational flexibility.

Financial highlights

• Revenue for 2025 was $11.17 million, up from $4.95 million in 2024, driven by increased gold production (2,912.2 troy ounces in 2025 vs. 2,155.7 in 2024).

• Gross profit rose to $6.75 million (2024: $3.14 million), but administrative expenses increased to $9.91 million (2024: $5.25 million).

• Operating loss widened to $3.16 million (2024: $2.11 million), and net loss from continuing operations was $9.49 million (2024: $4.15 million).

• Cash and cash equivalents at year-end were $435k (2024: $96k); net assets stood at $11.7 million (2024: $10.5 million).

• No dividend was declared for 2025.

Outlook and guidance

• The company enters 2026 with a strengthened platform, aiming for improved operational performance and long-term value creation.

• Priorities for 2026 include stabilizing and growing production at Homase, expanding the oxide resource base, advancing sulphide development, and disciplined pursuit of new opportunities.