Wildcat Resources (WC8) H2 2025 earnings summary

Executive summary

• Achieved a maiden Mineral Resource Estimate (MRE) of 74.1Mt at 1.0% Li₂O at Tabba Tabba, establishing it as Australia's largest undeveloped hard-rock spodumene resource, with 94% in the Indicated category.

• Completed a Pre-Feasibility Study (PFS) for Tabba Tabba, confirming a 17-year mine life and robust financial metrics, including a post-tax NPV of AUD $1.2B and IRR of 22.9%.

• Advanced the Definitive Feasibility Study (DFS) for Tabba Tabba, fully funded by a year-end cash balance of $55.1M.

• Discovered new lithium pegmatite swarms at the Bolt Cutter Project, with significant drill results and ongoing exploration.

• Maintained a diversified portfolio, including the Mt Adrah gold project with a 20.5Mt @ 1.1g/t Au resource.

Financial highlights

• Operating loss after income tax for FY25 was $8.2M, a slight improvement from $8.9M in FY24.

• Net operating cash outflows were $2.75M (FY24: $2.68M).

• Exploration investment totaled $17.6M, down from $24.6M in the prior year.

• Year-end cash and cash equivalents stood at $55.1M.

• No dividends declared or paid.

Outlook and guidance

• DFS for Tabba Tabba is progressing, targeting further de-risking and potential conversion of additional resources to reserves.

• Ongoing drilling at Bolt Cutter and Mt Adrah to expand resources and test new targets.

• Well positioned to deliver Tabba Tabba into production as lithium market conditions improve.