Globe Metals & Mining (GBE) Q4 2025 TU earnings summary

Executive summary

• Advanced the Kanyika Niobium Project in Malawi with major design optimisations and a shift to Early Contractor Involvement (ECI) to enhance engineering, cost efficiency, and execution readiness for the Bankable Feasibility Study (BFS).

• Leadership changes included appointing Charles Altshuler as Interim CEO and Lisungu Chirwa as Managing Director of the Malawi subsidiary.

• Government approval of the Community Development Agreement (CDA) enables commencement of commercial operations under the mining licence.

Financial highlights

• Cash at bank at 30 June 2025 was $0.50 million, up from $0.24 million at 31 March 2025.

• Debt at quarter-end was $4.5 million, up from $2.9 million at the previous quarter.

• Raised $520,000 post quarter-end via a convertible note to support short-term working capital.

• Net cash used in operating activities for the quarter was $(986,000); net cash used in investing activities was $(318,000); net cash from financing activities was $1,559,000.

• Estimated quarters of funding available at quarter-end was 0.4, with additional funding secured post quarter.

Outlook and guidance

• BFS timeline extended to incorporate ECI insights and align with market conditions; release will follow partnership and procurement negotiations.

• Ongoing engagement with potential offtakers and strategic partners to secure funding and market access.

• Directors confident in ability to secure further funding as required.