GreenX Metals (GRX) Q1 2027 TU earnings summary

Executive summary

• Tannenberg’s conceptual Exploration Target is 144–279 Mt at 0.9–1.4% Cu and 15–21 g/t Ag, containing 1.3–3.9 Mt Cu and 69–188 Moz Ag; further exploration is required to establish a Mineral Resource.

• Two new Greenland licences expand Eleonore North to four licences covering ~2,100 km², with gold, tungsten, antimony and other critical-mineral targets.

• Singapore courts upheld the ECT award against Poland at first instance; the appeal decision was pending, while preparations for enforcement were underway.

Financial highlights

• Operating cash outflow was A$3.658m for the quarter, including A$653k exploration and evaluation, A$2.147m arbitration/legal expenses and A$445k staff costs.

• Cash and cash equivalents were A$9.707m at quarter-end, down from A$13.382m at quarter start; interest received was A$100k.

• Related-party payments totalled A$222k: A$140k for remuneration and superannuation, and A$82k for administrative, secretarial and corporate services.

Outlook and guidance

• Tannenberg work continues on digitising historical data and seismic surveys to inform future drilling; an initial drill program is planned for 2027.

• Eleonore North fieldwork results were expected in the coming months; assay results from archive core were expected in the coming month, and Margeries bulk samples were to support metallurgical sighter testing.

• Follow-up drilling at North and South Margeries may be warranted if sighter metallurgical results are positive; Noa Pluton results will guide future exploration and potential drill targeting.