Lifezone Metals (LZM) H1 2025 earnings summary

Executive summary

• Reported unaudited financial results for the six months ended June 30, 2025, highlighting progress on the Kabanga Nickel Project and financial discipline.

• Completed acquisition of BHP's 17% equity interest in Kabanga Nickel Limited, consolidating project control.

Financial highlights

• Basic earnings per share of $0.03 and diluted loss per share of $0.08 for H1 2025, compared to a loss of $0.14 per share in H1 2024.

• General and administrative expenses reduced by 16% year-over-year.

• Cash and cash equivalents totaled $12.5 million as of June 30, 2025, down from $29.3 million at year-end 2024.

• Invested $127.4 million in the Kabanga Nickel Project, reflected in exploration and evaluation assets.

Outlook and guidance

• Focus remains on advancing the Kabanga Nickel Project toward a Final Investment Decision, supported by recent financing and project milestones.

• Emphasis on disciplined financial management and execution readiness for long-term value creation.