Viridis Mining and Minerals (VMM) H1 2026 earnings summary

Executive summary

• Achieved major permitting milestone for Colossus Project with Preliminary License approval, de-risking development and enabling advanced engagement with partners and financiers.

• Released Pre-Feasibility Study confirming industry-leading project economics and scalable, low-cost operation for Colossus.

• Secured significant strategic equity and debt financing commitments, including a US$30 million staged investment and non-binding Letters of Support from multiple export credit agencies.

• Transitioned Colossus Project from study/resource growth to advanced permitting, financing, and execution readiness.

Financial highlights

• Net loss after tax of $2,737,131 for the half-year ended 31 December 2025, compared to $1,979,006 loss in the prior year.

• Cash at bank increased to $15,157,626 at 31 December 2025 from $1,149,795 at June 2025, reflecting successful capital raising.

• Total liabilities at $2,457,533 and net assets at $45,394,842 as of 31 December 2025, up from $28,506,983 at June 2025.

• Operating cash outflows of $695,514 and investing cash outflows of $4,189,013; financing inflows of $19,315,157.

• No dividends paid, recommended, or declared during the period.

Outlook and guidance

• On track to secure Installation License and commence construction of Colossus Project in the second half of 2026.

• ECA-backed debt framework and strategic equity partnerships provide strong funding runway through to Final Investment Decision.

• Demonstration plant construction expected to complete in Q1 2026, with operations anticipated in Q2 2026.