Brockman Mining (159) Q1 2025 earnings summary

Executive summary

• Advanced the Marillana Project with MinRes under the Indicative Development Proposal, focusing on infrastructure and approvals for export facilities at Port Hedland's Stanley Point 3.

• Joint Venture with Hancock Prospecting and Roy Hill for new iron ore export facility, with port capacity allocated and studies ongoing for final investment decision.

Project activities

• Confirmatory technical and due diligence studies for Marillana are nearly complete, indicating enhanced yields and product quality above 61.5% Fe.

• Sinter testwork confirms Marillana Fines can substitute for other Australian fines in Chinese steel mills.

• Environmental management and monitoring plans are being updated, with ongoing water, greenhouse gas, and ecological monitoring.

• No mining production or development activities or related expenditure recognized for the quarter.

Segment performance

• Marillana Project: 50% interest held via JV with Polaris; infrastructure and logistics solutions progressing.

• Ophthalmia Project: 50% interest held; program of works reduced to prioritize Marillana development.

• Regional development: No activity during the period.