Gorilla Gold Mines (GG8) H2 2025 earnings summary

Executive summary

• Underwent a strategic transformation, focusing on high-grade gold exploration in Western Australia, acquiring Vivien and Mulwarrie Projects, and consolidating full ownership of Comet Vale.

• Completed major recapitalisation and leadership transition, positioning for long-term value creation.

• Ended the year with $25.1 million in cash, following successful equity raisings and asset acquisitions.

• No operating revenue generated; reported a net loss of $3.2 million, reflecting the exploration-focused phase.

Financial highlights

• Net loss after tax of $3.2 million for FY25, compared to $3.3 million in FY24.

• Cash and cash equivalents of $25.1 million at year-end, up from $0.3 million in FY24.

• Net assets increased by $86.0 million to $91.1 million, driven by equity raisings and project acquisitions.

• Major equity raisings: $19.5 million in November 2024 and $25.0 million in March 2025.

• Working capital surplus of $22.0 million at 30 June 2025, compared to a $0.9 million deficit in FY24.

Outlook and guidance

• Drilling programs planned across all WA assets in FY26, targeting further resource upgrades.

• Major resource upgrades scheduled for Comet Vale (Q2 FY26) and Mulwarrie (Q1 FY26).

• Continued assessment of Canadian assets for future development optionality.