MetalsTech (MTC) H1 2025 earnings summary

Executive summary

• Focused on advancing the Sturec Gold Mine in Slovakia, including a revised scoping study and commencement of small-scale mining operations.

• Secured a PFS and Working Capital Facility of up to $5 million, with $1 million drawn during the period.

• Mining One appointed to complete the Pre-Feasibility Study (PFS); PFS completion is a key milestone.

• Board changes included the resignation of Mr. Robert Sills and appointment of Mr. Clifford Fitzhenry.

Financial highlights

• Net loss after tax from continuing operations was $1,261,950 for the half year ended 31 December 2024, compared to $1,286,916 for the same period last year.

• Cash and cash equivalents at 31 December 2024 were $39,021, down from $628,398 at 30 June 2024.

• Net assets decreased to $5,778,596 from $6,510,186 at 30 June 2024.

• Total assets increased to $9,266,094 from $8,841,021 at 30 June 2024, mainly due to capitalised exploration.

• Basic loss per share from continuing operations was 0.64 cents, compared to 0.6822 cents in the prior period.

Outlook and guidance

• Focus remains on completing the PFS for Sturec, with the aim to maximize shareholder value amid strong gold and silver prices.

• The company is actively seeking additional capital and has a track record of successful fundraising.

• Directors have verbally agreed to provide short-term working capital if needed.