Brazilian Critical Minerals (BCM) Q4 2025 TU earnings summary

Executive summary

• Achieved 74% magnet rare earth element (MREE) and 62% total rare earth element plus yttrium (TREE+Y) recovery in 28-day ISR column test, surpassing scoping study parameters.

• Commenced in-situ recovery (ISR) field pilot trial at Ema Project, with rapid solution breakthrough in all monitoring holes within 72 hours, validating hydraulic connectivity.

• Received environmental approval for magnesium sulphate use in pilot trial and completed a heavily oversubscribed $4.0 million placement to fund project advancement.

Financial highlights

• Cash and cash equivalents at June 30, 2025, totaled A$1.70 million.

• Net cash used in operating activities for the quarter was A$743,000; year-to-date net cash used was A$4.1 million.

• Net cash from financing activities for the quarter was A$1.84 million, supporting ongoing project development.

Outlook and guidance

• Placement proceeds will accelerate the bankable feasibility study, complete ISR pilot trials, progress environmental permitting, and strengthen working capital for pre-development activities.

• Estimated quarters of funding available is 11.1, indicating strong liquidity for near-term operations.