Globe Metals & Mining (GBE) Q3 2025 TU earnings summary

Executive summary

• Two non-binding offtake MOUs signed in late Q3 and early Q4 FY25, covering up to 100% of Kanyika Phase 1 production for Niobium and Tantalum Pentoxide.

• Updated Bankable Feasibility Study (BFS) for the Kanyika Project delayed to June 2025 to optimize project economics.

• Cash position at 31 March 2025 was $0.24 million, with additional short-term loan facility of up to US$1.4 million secured.

• No substantive mining production or development activities during the quarter; focus remained on evaluation and project advancement.

Financial highlights

• Cash at bank at quarter end: $0.24 million (down from $0.28 million at 31 December 2024).

• Debt at quarter end: $2.9 million (up from $1.5 million at 31 December 2024).

• Net cash used in operating activities: $(432,000) for the quarter, $(1,392,000) for nine months.

• Net cash used in investing activities: $(1,047,000) for the quarter, $(2,445,000) for nine months.

• Net cash from financing activities: $1,431,000 for the quarter, $2,931,000 for nine months.

Outlook and guidance

• BFS completion expected in June 2025, with focus on optimizing project phasing and production volumes.

• Company expects to continue operations and meet objectives, supported by additional funding and ongoing offtake negotiations.

• Estimated quarters of funding available: 1.0, with further funding steps underway.