GreenX Metals (GRX) Q4 2025 TU earnings summary

Executive summary

• Initiated historical core logging and sampling at Tannenberg Copper Project, targeting untested copper potential and expanded exploration licence to 1,900km², a seven-fold increase.

• Participated in BHP's 2025 Xplor program, receiving a US$500,000 non-dilutive grant and in-kind support for Tannenberg.

• Advanced Greenland projects, with high-grade antimony and gold results at Eleonore North and ongoing copper exploration at Arctic Rift Copper Project.

• Awarded up to £252 million in compensation from international arbitration against Poland, with interest accruing and set-aside motions being defended.

Financial highlights

• Raised $4.6 million via placement of 7.1 million shares during the quarter.

• Cash and cash equivalents at quarter end were $6.8 million, up from $3.9 million in the previous quarter.

• Net cash used in operating activities was $(1.3) million for the quarter.

• Net cash from financing activities totaled $4.6 million for the quarter.

• Payments for exploration and evaluation activities totaled $470,000 for the quarter.

Outlook and guidance

• Results from Tannenberg core logging and geophysical surveys expected in December quarter 2025.

• Ongoing focus on Greenland projects, with further fieldwork and data analysis planned for Eleonore North and Arctic Rift Copper.

• Awaiting court decisions on Poland's set-aside motions regarding arbitration awards.