Legend Mining (LEG) H1 2025 earnings summary

Executive summary

• Loss after tax for the half-year ended 30 June 2025 was $3,094,691, an improvement from a $4,757,699 loss in the prior year period.

• Principal activities focused on exploration for nickel and copper in Western Australia, with expansion into gold via the Pinnacle Well Project acquisition.

• Key management changes included the resignation of the Managing Director and appointment of a new director.

Financial highlights

• Finance revenue was $287,775, down from $333,399 year-over-year.

• Impairment of exploration expenditure was $2,625,702, reduced from $4,728,283 in the prior period.

• Net cash flows from operating activities were negative $659,431, while investing activities provided $1,344,130, mainly from a research & development tax incentive grant.

• Cash and cash equivalents increased to $11,735,613 at period end.

• Basic and diluted loss per share was (0.1078) cents, improved from (0.1637) cents year-over-year.

Outlook and guidance

• Expansion into gold exploration through the Pinnacle Well Project is expected to diversify the project portfolio.

• Ongoing statutory rehabilitation and land access negotiations continue at the Rockford Project.