Classic Minerals (CLZ) Q4 2025 earnings summary

Executive summary

• Acquired strategic Forrestania tenements, expanding gold resource footprint by 147.68km² adjoining key assets.

• Entered a “Drill-for-Equity” agreement with a contractor, aligning drilling costs with equity incentives.

• Ongoing legal proceedings to enforce and protect Forrestania tenement rights, with confidence in positive outcomes.

• Shares remain suspended on ASX pending compliance with Listing Rules 12.1 and 12.2.

Financial highlights

• Net cash outflows for the quarter were $440,000, mainly from exploration, staff, and admin costs.

• Cash inflows totaled $389,000, all from borrowings.

• Net cash from operating activities was negative $411,000 for the quarter.

• Net cash from investing activities was positive $7.63 million, mainly from asset disposals.

• Cash and cash equivalents at quarter end were $3,000.

Outlook and guidance

• Board and management are working to demonstrate compliance for ASX reinstatement.

• Exploration focus remains on Forrestania, with new drilling programs enabled by recent PoW approvals.