Kingsrose Mining (KRM) H2 2025 earnings summary

Executive summary

• Advanced exploration portfolio in Finland and Norway, with significant progress at Penikat (Finland) and Råna (Norway).

• BHP Alliance provided full funding for regional exploration, with focus shifting to Finnmark, Norway.

• Cash position of A$27.3 million at 30 June 2025, supporting ongoing exploration and growth.

• Leadership transition with appointment of Terry Holohan as Acting CEO.

Financial highlights

• Net loss after tax for FY2025 was $4.82 million, improved from $7.76 million in FY2024.

• Corporate and operational support costs decreased to $4.78 million (FY2024: $5.40 million).

• Exploration and evaluation expenditure was $1.56 million, mainly on Råna and Penikat projects.

• Cash and cash equivalents at year-end were $27.29 million (FY2024: $28.87 million).

• Net assets at 30 June 2025 were $26.33 million (FY2024: $31.01 million).

Outlook and guidance

• Priorities include advancing Penikat through permitting and initial drilling, and pursuing new high-quality projects.

• BHP to fund US$3.5 million for Year 2 of Finnmark Alliance, with focus on large-scale discoveries.

• Ongoing assessment of new acquisition and joint venture opportunities to diversify the portfolio.