American Rare Earths (ARR) H2 2025 earnings summary

Executive summary

• Advanced technical, permitting, and relationship-building efforts in Wyoming, positioning the flagship Halleck Creek project as a future cornerstone of the U.S. rare earths supply chain.

• Halleck Creek's Cowboy State Mine benefits from a unique, expedited permitting process, with significant progress in environmental data collection and technical de-risking.

• Substantial capital raised through placements, grants, and debt financing commitments, supporting ongoing project development and demonstration plant construction.

• Leadership transition with the resignation of the CEO and appointment of interim management to maintain project momentum.

Financial highlights

• Net loss for the year ended 30 June 2025 was A$6,465,370, compared to a loss of A$6,257,487 in the prior year.

• Cash balance at 30 June 2025 was A$9,353,143, down from A$16,299,350 at the previous year-end.

• Total assets stood at A$31,334,278, with total liabilities of A$1,223,784.

• 14 million shares issued via option exercises, raising A$2,720,000; subsequent to year-end, an additional A$15 million was raised through placement.

Outlook and guidance

• Ongoing technical de-risking and pre-feasibility work at Halleck Creek, with demonstration plant development and further drilling planned.

• Anticipated supply of significant rare earth feedstock for the U.S. permanent magnet industry, with resource expansion potential.

• Continued focus on securing funding and progressing permitting to bring Cowboy State Mine online in the near term.