Leading Edge Materials (LEM) Q3 2025 earnings summary

Executive summary

• Net loss for Q3 2025 was $611,307, a significant reduction from both the previous quarter and the same quarter last year, mainly due to lower share-based compensation and a foreign exchange gain.

• Closed a non-brokered private placement in August 2025, raising $2.84 million to support ongoing operations and project development.

• Maintains Woxna Graphite mine in production-ready state while minimizing costs and evaluating a potential restart.

Financial highlights

• Net loss for Q3 2025 was $611,307, down from $1,179,168 in Q2 2025 and $822,238 in Q3 2024.

• Working capital as of July 31, 2025, was $679,695, with total assets of $29.5 million.

• Accumulated deficit reached $51.8 million as of July 31, 2025.

Outlook and guidance

• Sufficient funding is anticipated for corporate administration and overheads for the next twelve months, but additional capital will be needed for project restarts and development.

• Norra Kärr and Woxna Graphite projects are strategically positioned amid global efforts to secure critical raw materials supply chains.

• Decision on Norra Kärr mining lease expected in Q4 2025, with PFS completion targeted for H1 2026.