Globe Metals & Mining (GBE) H1 2026 earnings summary

Executive summary

• Transitioned from feasibility to execution phase for the Kanyika Niobium Project, with early works and construction initiated under a Pre-Development Collaboration Agreement.

• Achieved a fully debt-free position by 23 December 2025 and materially strengthened the balance sheet through equity funding and debt elimination.

• Secured A$8.67 million in equity funding and advanced offtake arrangements covering 100% of Phase 1 production.

• Expanded mining license to include additional critical minerals, enhancing project diversification.

Financial highlights

• Net loss after tax for the half-year ended 31 December 2025 was $1,786K, compared to $1,550K for the same period last year.

• Cash and cash equivalents at 31 December 2025 were $5.76 million.

• Total assets increased to $40.7 million from $35.0 million at 30 June 2025.

• Equity rose to $40.1 million from $29.6 million at 30 June 2025, reflecting new capital raised and debt conversion.

• Net cash used in operating and investing activities totaled $1.83 million for the half-year.

Outlook and guidance

• Focus remains on completing the updated Bankable Feasibility Study (BFS), progressing senior debt arrangements, and converting MOUs to binding offtake agreements.

• Early works commenced post-period, supporting execution planning and compliance with mining agreement obligations.

• No significant events have arisen since 31 December 2025 that would affect future operations.