Chatham Rock Phosphate (CRP) H2 2025 earnings summary

Executive summary

• Consolidated financial statements prepared under IFRS for the year ended March 31, 2025, with operations in New Zealand, French Polynesia, and Australia.

• Independent auditor issued an unqualified opinion but highlighted material uncertainty regarding going concern due to recurring losses and negative working capital.

• The group remains in a development stage, focusing on phosphate mining projects, with no commercial production yet.

Financial highlights

• Net loss for the year was $1,182,703, an improvement from a $1,472,047 loss in the prior year.

• Revenue remains negligible; main expenses are general and administrative ($1,189,983) and depreciation ($33,922).

• Cash and cash equivalents at year-end were $35,206, down from $110,172.

• Current liabilities exceeded current assets by $314,189 at March 31, 2025.

• Mineral property interests increased to $6,710,333 from $6,568,266.

Outlook and guidance

• The group expects to incur further losses as it continues development activities.

• Ongoing efforts to raise additional capital through share placements and strategic partnerships.

• Management is considering asset sales or farm-downs to advance project commercialization.

• A non-binding term sheet was signed post-year-end for a potential strategic investment in the Chatham Rise project.