FireFly Metals (FFM) Q3 2025 TU earnings summary

Executive summary

• Aggressive six-rig drilling program at Green Bay Copper-Gold Project delivered strong infill and exploration results, supporting resource growth and upgrades.

• Drilling confirmed thick, high-grade copper-gold mineralisation in both VMS and footwall zones, with notable intersections such as 86.3m @ 3.7% CuEq and 50.9m @ 2.6% CuEq.

• Resource update and mining studies are expected in late Q3 and Q4 2025, aiming to define a large-scale, long-life operation.

• The company remains well-funded, with A$59.1 million in cash at quarter-end and a further A$3.9 million GST/HST refund received post-quarter.

• Strategic review underway for the Pickle Crow Gold Project to maximise shareholder value and focus on Green Bay.

Financial highlights

• Cash balance at 31 March 2025 was A$59.1 million.

• Net cash outflows for the quarter: A$3.0 million from operating activities, A$13.2 million from investing, and A$0.5 million from financing.

• Estimated quarters of funding available: 3.7, based on current cash and outgoings.

• No revenue from operations; primary expenditures relate to exploration, development, and corporate costs.

Outlook and guidance

• Mining studies and resource updates scheduled for late Q3 and Q4 2025, expected to demonstrate robust economics and a substantial production profile.

• Drilling program to continue with focus on resource extension, infill drilling for resource conversion, and discovery drilling for new targets.

• Regional exploration and geophysical surveys ongoing, with first assay results from new targets expected in the June quarter.