Aspire Mining (AKM) H2 2025 earnings summary

Executive summary

• Focused on advancing the Ovoot Coking Coal Project, including studies, permits, and approvals for development.

• Signed a US$69.9m EPC contract for a Coal Handling and Preparation Plant and rail terminal, targeting first coal production/export in Q4 2027.

• Regained exclusive marketing rights for key coal projects after extinguishing legacy contract rights.

• No dividends declared or paid for the year.

Financial highlights

• Reported a net loss after tax of $12,847,804 for 2025, compared to a profit of $6,664,698 in 2024.

• Total comprehensive loss was $2,669,131, down from $3,050,443 in 2024.

• Loss driven largely by non-cash unrealised foreign exchange losses due to AUD appreciation against USD.

• Cash and cash equivalents at year-end were $5,041,262 (2024: $4,578,095).

• Working capital of $8,116,639 and net assets of $39,294,011 at 31 December 2025.

• No investments in bonds at year-end (2024: $9,206,127).

Outlook and guidance

• Sufficient cash to fund ongoing studies and permitting, but additional funding required for full project development.

• Plans to secure further financing through debt, coal pre-sales, or equity raise before construction.

• Targeting first coal production/export from Ovoot Project in Q4 2027.