Guardian Metal Resources (GMET) H1 2025 earnings summary

Executive summary

• Completed name change and made key strategic and operational appointments, including a new Non-Executive Chairman.

• Raised US$2.75M from a U.S.-focused institutional fundraise and £750,000 from a UK institutional investor post-period.

• Discovered new copper-gold-silver zones and confirmed significant porphyry deposit potential at Nevada projects.

• Signed definitive agreements for the Tempiute Tungsten Project and advanced exploration at Pilot Mountain, Garfield, and Golconda.

• Welcomed UCAM Ltd. as the largest shareholder after a major off-market transaction.

Financial highlights

• Loss for the period attributable to owners was US$1,087k, compared to US$556k for the same period last year.

• Loss per share was 0.008 pence (2023: 0.01 pence).

• Total assets at period end were US$15,015k, up from US$12,549k at 30 June 2024.

• Net assets increased to US$14,647k from US$11,723k at 30 June 2024.

• Cash and cash equivalents at period end were US$2,489k.

Outlook and guidance

• Ongoing resource drilling at Pilot Mountain's Desert Scheelite Zone, with geotechnical drilling for a pre-feasibility study to follow.

• Further development and sampling planned at Tempiute, with future plans to be communicated.

• High-priority targets identified at Garfield and Kibby Basin, with next steps under review.

• Golconda opportunity under review in the context of record gold prices.