Chilwa Minerals (CHW) Q3 2025 earnings summary

Executive summary

• June quarter focused on heavy mineral sands drilling, resource expansion, rare earth target validation and development planning in Malawi.

• Mineral Resource Estimate rose 85% to 110.0Mt of ore at 4.03% THM, containing 4.44Mt THM; 71% of resources are in the Indicated category.

Financial highlights

• Cash and cash equivalents were A$713,000 at 30 June 2025, down from A$4.848m at the quarter’s start; no debt was reported.

• Quarterly net operating cash outflow was A$495,000; investing outflow was A$3.668m and net financing inflow was A$31,000.

Outlook and guidance

• Scoping Study managed by TZMI is underway and targeted for completion in the September quarter, covering Mposa, Mpyupyu Flat and Dune, Bimbi and Halala.

• Three diamond holes are planned at Mposa East; first REE results are expected early in the September quarter.

• Further MRE work is planned as Mpyupyu Flat and Halala sonic assays, XRF and QEMSCAN results are received; HMS flow-sheet release is also anticipated.