Legend Mining (LEG) H2 2025 earnings summary

Executive summary

• Experienced significant personnel changes, including the resignation of the Managing Director and appointment of a new Director; Executive Chair assumed executive duties from May 2025.

• Acquired and expanded the Pinnacle Well Project, providing exposure to gold in the Leonora district; signed a Heritage Protection Agreement with native title holders.

• Continued tenement rationalisation at the Rockford Project due to negative nickel sentiment; reduced holding to Mawson Prospect and surrounding ground.

• Maintained a strong cash position of approximately $10.4M at year-end.

Financial highlights

• Net loss after tax for 2025 was $11.85M, compared to a $5.25M loss in 2024.

• Revenue for 2025 was $524,833, down from $649,357 in 2024.

• Basic and diluted loss per share was 0.4068 cents, compared to 0.1819 cents in 2024.

• Deferred exploration costs written back totaled $10.12M, reflecting tenement relinquishments.

• Cash and cash equivalents at 31 December 2025 were $10.43M.

Outlook and guidance

• Drill programs are planned to test gold targets at Pinnacle Well, pending heritage clearances.

• Further geophysical surveys are scheduled for Q1 2026 at Pinnacle Well.

• Ongoing negotiations for land access at Rockford Project; no exploration activities planned until resolved.