American Rare Earths (ARR) Q1 2026 TU earnings summary

Executive summary

• Significant macroeconomic and geopolitical shifts are reshaping the Western mine-to-magnet industry, highlighting the need for domestic rare earths supply chain security.

• The Halleck Creek Rare Earths Project in Wyoming is positioned as a strategic, long-term solution to diversify and de-risk the U.S. rare earths supply chain.

• Technical milestones achieved at Halleck Creek de-risk project development and move it closer to production status.

Financial highlights

• Cash position at 30 September 2025 was A$21.2m, with additional financial assets of A$1.8m.

• Net cash expenditure for the quarter: A$1.4m for operating costs and A$2.3m for project development (net of grant reimbursement).

• A$15m raised via placement in July 2025 at A$0.32 per share, with strong institutional participation.

• A$1.465m raised from option exercises in July and August 2025; post-quarter, a further A$3.495m raised from option exercises.

• Final payment of A$1m plus interest received from Cobalt Blue Holdings post quarter-end.

Outlook and guidance

• Focus in December 2025 quarter on integrating optimisation testwork into the Pre-Feasibility Study and demonstration plant design.

• Continued engineering, equipment planning, and environmental permitting activities, with technical report publication targeted for 2026.

• Ongoing CEO recruitment and engagement with U.S. Federal and State agencies for critical minerals strategy and funding.