American Rare Earths (ARR) Q4 2025 TU earnings summary

Executive summary

• Advanced Halleck Creek Project with high-grade channel sampling at Cowboy State Mine, confirming strong rare earth mineralization and supporting upcoming PFS and resource model update.

• Expanded exploration at Bluegrass and County Line areas, with Bluegrass averaging 3,333 ppm TREO and County Line showing up to 20% HREO composition.

• Achieved key permitting milestone by installing 10 groundwater monitoring wells at CSM, streamlining regulatory pathway.

• Strengthened leadership with new CFO and US-based Non-Executive Director appointments.

• Secured A$15 million equity investment to fund Halleck Creek demonstration plant and development activities.

Financial highlights

• Cash position at 30 June 2025 was A$9.4m, with an additional A$15m to be added post-placement.

• Net cash expenditure for the quarter: A$0.69m for operating costs and A$1.9m for project development (net of WEA grant reimbursement).

• Financial assets include A$2.0m in ASX-listed investments.

• Estimated 3.56 quarters of funding available at quarter end.

Outlook and guidance

• Placement proceeds will fund construction of a beneficiation demonstration plant, in-fill drilling, and engineering for future studies beyond the PFS.

• Project is well-funded to progress through value-creating milestones, including test mining and permit application submission.

• Executive search underway for new CEO to guide next growth phase.