Brazilian Critical Minerals (BCM) H2 2026 earnings summary

Executive summary

• FY2026 marked a transformational year with the delivery of the Bankable Feasibility Study (BFS) for the Ema Rare Earth Elements Project, a 58% increase in Indicated Mineral Resource, strong metallurgical results, key permitting milestones, and a new strategic partnership.

• The BFS confirmed exceptional project economics, including a post-tax NPV8 of US$1.47B, post-tax IRR of 105%, and a 6-month payback period, supporting a long-life, economically resilient rare earth project.

• The company advanced permitting, secured funding through multiple equity raises and convertible notes, and continued offtake discussions with global partners.

Financial highlights

• Loss after income tax for FY2026 was $7,874,451, including $1,129,559 in non-cash share-based payments (FY2025: $5,718,564).

• Cash and cash equivalents at 30 June 2026 were $4,361,548 (2025: $1,698,485); net assets increased to $3,565,307 (2025: $540,710).

• Total equity raised during the year exceeded $8.6 million, with additional $10 million committed post-year-end.

• 53,674,998 options exercised during the year, generating $590,425 in cash proceeds.

Outlook and guidance

• Post-year-end, $10 million was raised via a two-tranche placement to support ongoing project development.

• The company is focused on advancing the Ema Project toward a final investment decision and commercial production, with performance rights issued to incentivize key milestones.