GreenX Metals (GRX) H2 2026 earnings summary

Executive summary

• Achieved significant progress in asset portfolio, including acquisition and advancement of the Tannenberg Copper Project in Germany and exploration at Eleonore North in Greenland.

• Secured a major legal victory with the Singapore Court upholding compensation awards against Poland, with ongoing enforcement and appeals.

• Raised A$13.6 million in new equity, strengthening cash reserves and supporting ongoing exploration and legal activities.

Financial highlights

• Net loss for the year ended 30 June 2026 was $12.34 million, compared to $6.02 million in 2025, driven by higher exploration, arbitration, and impairment expenses.

• Cash reserves increased to $13.42 million at year-end, up from $6.83 million, primarily due to the equity placement.

• Net assets rose 21% year-over-year to $18.08 million.

• Exploration and evaluation asset impairment of $4.42 million recognized due to winding up the ARC joint venture.

• No dividends declared or paid during the year.

Outlook and guidance

• Plans to commence initial drilling at Tannenberg to verify historical estimates and underpin a Mineral Resource.

• Ongoing exploration at Eleonore North, with new licences granted and fieldwork completed to advance prospects toward drill-ready status.

• Focused on enforcing arbitration awards against Poland and defending set-aside motions.

• Strategy includes identifying and assessing additional business opportunities in the resources sector.