Encounter Resources (ENR) H2 2025 earnings summary

Executive summary

• Advanced exploration at the Aileron Project delivered a maiden Inferred Mineral Resource Estimate for niobium and rare earths, positioning the company as a leader in the West Arunta region.

• Regained 100% ownership of key copper projects, including Yeneena, and continued joint venture activities with South32 at Jessica.

• Raised approximately $16.4 million through share placements and option exercises, strengthening the balance sheet for ongoing exploration.

Financial highlights

• Net loss after tax for FY2025 was $3,832,386, an improvement from the prior year’s $4,331,728 loss.

• Cash and term deposits at year-end totaled $18,638,519, up from $14,050,537.

• Capitalised mineral exploration and evaluation expenditure increased to $30,612,089 from $22,853,601.

• No dividends declared or paid for the year.

Outlook and guidance

• Ongoing focus on expanding resources at Aileron and advancing development studies for niobium and REE.

• Continued exploration at copper and gold projects in Western Australia and the Northern Territory, with drilling and geophysical campaigns planned.

• Collaboration with South32 at Jessica copper project to continue under the farm-in agreement.