Austin Metals (AYT) Q3 2025 earnings summary

Executive summary

• Raised $1.25 million via placement to fund exploration at Austin Gold and Ashburton Gold-Copper Projects, with strong investor support.

• Assay results from December 2024 drilling at Brunswick Hill and Mt Sandy confirmed shallow, high-grade gold mineralisation, open along strike and at depth.

• Follow-up drilling at Austin and maiden RC drill program at Ashburton commenced, with results pending in Q2 2025.

Financial highlights

• Cash at bank at the start of the June quarter was approximately $1.62 million.

• Net cash used in operating activities for the quarter was $86,000; investing activities used $108,000.

• Cash and cash equivalents at quarter end were $438,000, down from $632,000 in the previous quarter.

• Payments to related parties totaled $31,000 for the quarter.

Outlook and guidance

• Drilling results from both Austin and Ashburton projects are expected in Q2 2025, which will inform further exploration plans.

• Strategic review of the Broken Hill portfolio is underway, with a potential divestment transaction targeted.