GreenX Metals (GRX) Q3 2025 TU earnings summary

Executive summary

• Selected for BHP's 2025 Xplor program, receiving US$500,000 non-dilutive funding for Tannenberg Copper Project in Germany, with license area expanded to 1,900km².

• Awarded up to £252 million in compensation from successful arbitration against Poland, with interest accruing and intention to return majority of cash to shareholders upon satisfaction.

• Strategic focus on critical minerals in Greenland, with high-grade antimony and gold identified at Eleonore North and large-scale copper targets at Arctic Rift Copper Project.

Financial highlights

• Net cash outflow from operating activities for the quarter was A$694,000; year-to-date outflow was A$2.78 million.

• Cash and cash equivalents at 31 March 2025 totaled A$3.94 million.

• Received A$398,000 from BHP Xplor grant during the quarter.

• Interest income of ~£14 million per annum is accruing from the arbitration award, offset by ~£2.7 million annual interest expense on litigation funding.

Outlook and guidance

• Upcoming work at Tannenberg includes airborne magnetic surveys, core relogging, and gravity data collection, with BHP collaboration to expedite exploration.

• Renewed exploration focus at Eleonore North on antimony-gold systems, leveraging newly released historical data and rising antimony prices.

• Further remote-sensing analysis planned for Arctic Rift Copper Project to refine exploration targets.

• Plans to return majority of arbitration proceeds to shareholders once received.