Globe Metals & Mining (GBE) Q4 2026 TU earnings summary

Executive summary

• Completed Bankable Feasibility Study (BFS) for the Kanyika Niobium Project, confirming robust economics, a 24-year mine life, and a phased development strategy.

• Advanced permitting, technical optimisation, and community resettlement, with compensation payments to commence next quarter.

• Engaged with potential strategic partners and funding providers to support project development.

Financial highlights

• Post-tax NPV of US$1.025 billion and IRR of 48% for Kanyika Project; average annual EBITDA of US$205 million.

• Life-of-mine net revenue estimated at US$6.98 billion; average annual free cash flow of US$122 million.

• Cash at bank at 30 June 2026 was $2.78 million, down from $4.20 million at 31 March 2026.

• No debt outstanding at quarter end.

Outlook and guidance

• First production from Kanyika targeted for 2028.

• Ongoing engagement with strategic partners and funding providers to secure project financing.

• Market fundamentals for niobium and tantalum remain strong, with tantalum prices significantly exceeding BFS assumptions.