MetalsTech (MTC) Q1 2025 TU earnings summary

Executive summary

• Secured a PFS and Working Capital Facility of up to $5 million post-quarter to advance Sturec Gold Mine development in Slovakia.

• Engaged JP-Ant for a revised underground-only Scoping Study reflecting higher gold/silver prices and improved mining methods.

• Continued stakeholder engagement in Kremnica and nearby communities to support future Sturec development.

• Appointed Cliff Fitzhenry as Technical Director (non-executive); Robert Sills resigned as non-executive director.

Financial highlights

• Cash outflows from operating activities for the quarter were $362,000; investing outflows were $165,000.

• Cash and cash equivalents at 30 September 2024 were $73,000, down from $600,000 in the previous quarter.

• No cash inflows from financing activities during the quarter.

• Payments to related parties totaled $22,000 for director and consulting fees.

Outlook and guidance

• Focused on completing the PFS to unlock value at Sturec amid historically high gold and silver prices.

• Board reviewing funding requirements; confident in ability to raise further funds as needed.

• Company expects to continue operations and meet business objectives based on funding track record.