Neometals (NMT) Q2 2026 TU earnings summary

Executive summary

• Completed 8,457m RC drilling across Barrambie Ranges, Ironclad, and Mystery, with significant gold assay results indicating high-grade potential and strong recoveries from initial metallurgical tests at Ironclad.

• Entered a non-binding LOI for a 50:50 profit-sharing JV to develop Ironclad Gold Deposit via open-pit mining.

• Advanced lithium chemicals business through RAM, progressing ecosystem partnerships and ELi Process optimization.

• Secured a €48.7M conditional grant for the Pori Vanadium Project in Finland, with additional €1.5M investment for technical work.

• Signed an exclusivity and option agreement to evaluate lithium-potassium brines in Utah, leveraging existing oilfield infrastructure.

Financial highlights

• Cash and term deposits at 31 December 2025 totaled $6.4M, with investments and net receivables of $2.5M and no debt.

• Net cash used in operating activities for the quarter was $2.35M; net decrease in cash and cash equivalents was $3.8M.

• Estimated quarters of funding available at current burn rate is 1.62.

Outlook and guidance

• Further gold assay results for Barrambie Ranges, Ironclad, and Mystery expected in January 2026; Ironclad MRE update and mine plan scheduled for March quarter.

• Ongoing discussions for divestment of Barrambie Ti-V Project.

• Group is investigating options to raise further cash, including equity or asset sales, to fund operations.