Chilwa Minerals (CHW) H1 2025 earnings summary

Executive summary

• Advanced a dual-track Heavy Mineral Sands (HMS) and Rare Earth Element (REE) exploration strategy at the Chilwa Critical Minerals Project, with three drill rigs in operation.

• Half-year net loss widened to $1.288m from $0.947m YoY; cash was $4.646m at 31 December 2024 after an October placement and share purchase plan raised $6.75m.

Financial highlights

• Net loss after tax was $1.288m for H1 FY2025, compared with $0.947m in H1 FY2024; total comprehensive loss was $1.291m.

• Revenue was $53,366 for the half-year; interest income was $110,345, compared with $53,366 and $110,345, respectively, in the prior-year period.

• Operating cash outflow was $1.013m; investing cash outflow was $3.267m, including $2.458m of capitalised exploration expenditure.

Outlook and guidance

• H1 FY2025 plans include completing an Mposa HMS Mineral Resource Estimate, with the estimate intended to underpin an HMS scoping study expected in H2.

• Sonic rigs are planned to complete Mpyupyu drilling before moving to Bimbi and Namasalima; REE drilling is expected to continue for most of 2025.

• Outstanding Mposa assays were expected in the March quarter ahead of a planned resource estimate upgrade.