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Green Minerals (GEM) investor relations material
Green Minerals Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net loss for H2 2025 was slightly over NOK 2 million, a significant improvement from NOK 10,876,000 in H2 2024; full-year loss was around NOK 4 million, reflecting a 75% reduction in spending.
Underlying EBITDA for H2 2025 was negative NOK 1.5 million, with further cost reductions expected to exceed the previously announced 80% cut by H2 2026.
Strategic review launched in December 2025 to maximize shareholder value, with ongoing discussions but no certainty on outcomes.
Bitcoin Treasury Strategy adopted as a hedge against fiat debasement and to support long-term capital needs.
Continued delays in Norway's first licensing round due to political uncertainty, with other jurisdictions advancing deep-sea mining.
Financial highlights
H2 2025 revenues were NOK 6,000, with operating expenses of NOK 2,057,000 and EBITDA of NOK -2,057,000.
Net loss for H2 2025 was NOK -2,754,000, a significant improvement from NOK -10,876,000 in H2 2024; full-year loss was NOK 4 million, down 75%.
Cash flow from operating activities in H2 2025 was NOK -3,270,000; cash and cash equivalents at period end were NOK 4,177,000.
Equity ratio stood at 75% at the end of H2 2025.
Bitcoin treasury strategy resulted in a NOK 0.75 million loss as of December 31, 2025.
Outlook and guidance
Further cost reductions expected, aiming for a cost base even lower than the 80% cut already achieved.
Company maintains a multi-year runway and expects to keep the real option value alive for at least five years.
Optionality secured through runway extension and maintaining competency while reducing capacity.
First cruise for exploration expected in Q4 2025/Q1 2026, pending license awards.
Strategic review ongoing, with no promises on timing or outcome.
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Next Green Minerals earnings date
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