GreenX Metals (GRX) Q1 2025 TU earnings summary

Executive summary

• Awarded A$490 million in compensation and interest from successful international arbitration against Poland, with intention to return majority of available cash to shareholders after costs and taxes.

• Entered earn-in agreement for up to 90% of Tannenberg Copper Project in Germany, a highly prospective sediment-hosted copper deposit.

• Acquired 100% of Eleonore North Gold Project in eastern Greenland, with exploration licences transferred and further work planned before year-end 2025 decision.

Financial highlights

• Cash balance at 30 September 2024 was A$6 million, supporting exploration and enforcement activities.

• Net cash used in operating activities for the quarter was A$1.139 million; investing activities used A$12,000; financing activities used A$77,000.

• Payments to related parties during the quarter totaled A$220,000.

Outlook and guidance

• Plans to maximize return of capital to shareholders upon satisfaction of the arbitration award, after deducting funding, claim-related costs, and taxes.

• Ongoing focus on advancing copper and gold projects in Germany and Greenland, with updates to be provided as legal proceedings progress.