Agrimin (AMN) H2 2025 earnings summary

Executive summary

• Achieved Western Australian State environmental approval for the Mackay Potash Project, a major de-risking milestone for development.

• Initiated a strategic review of the Mackay Potash Project due to unsupportive capital markets for Australian SOP projects; review is advanced and expected to conclude soon.

• Implemented significant cost reduction and corporate streamlining, including scaling back site activities and leadership changes.

• Completed a $2.5 million equity raising to support the strategic review and other opportunities.

• Restructured interests in Tali Resources, resulting in a 27% holding in Tali Resources Ltd and a 40% stake in Niobium Holdings Pty Ltd.

Financial highlights

• Reported a net loss after tax of $48.7 million for FY2025, primarily due to full impairment of the Mackay Potash Project.

• Loss per share was (14.18) cents, compared to (1.73) cents in the prior year.

• Cash and cash equivalents at year-end were $2.84 million, down from $4.05 million in the prior year.

• Total assets decreased to $40.8 million from $95.5 million, reflecting the impairment.

• Equity raising of $2.3 million (tranche one) and $0.2 million (tranche two) completed in June and July 2025, respectively.

Outlook and guidance

• Strategic review of the Mackay Potash Project is nearing completion, with outcomes to be reported soon.

• Future developments depend on the outcome of the strategic review and capital market conditions for SOP projects.