Sovereign Metals (SVM) Q2 2026 TU earnings summary

Executive summary

• Recovered heavy rare earth monazite concentrate from Kasiya rutile tailings, with exceptionally high levels of dysprosium, terbium, and yttrium, surpassing global producers.

• Signed a strategic collaboration agreement with IFC (World Bank Group) to support sustainable development and project financing for Kasiya.

• US State Department and other Western governments have shown increased interest in Kasiya due to its strategic critical minerals.

Financial highlights

• No mining or production revenue reported for the quarter ended 31 December 2025.

• Total exploration and evaluation payments for the quarter were A$8.13 million.

• Cash and cash equivalents at quarter end were A$33.94 million, down from A$42.85 million in the previous quarter.

• Estimated quarters of funding available: 4, based on current cash burn.

Outlook and guidance

• Advancing the Kasiya Definitive Feasibility Study (DFS) and Environmental and Social Impact Assessment (ESIA).

• Continuing offtake discussions for rutile and graphite, and further characterisation of monazite mineralisation.

• Evaluating the scale and economics of rare earth by-product production.

• Ongoing community and social development programs in Malawi.