Lion Rock Minerals (LRM) H2 2026 earnings summary

Executive summary

• Advanced exploration in Cameroon led to multiple high-grade rutile and rare earth discoveries, notably at Mboma-Loum and Minta Est, with rutile grades up to 72.7% HM and rare earth assays up to 21.15% TREO in select intervals.

• Strategic partnership with Tronox and new leadership appointments enhanced technical and operational capabilities.

• Divested non-core Australian assets to focus on Cameroon, and completed significant capital raisings totaling $14.1 million during the year.

Financial highlights

• Net loss after tax for FY26 was $14.16 million, compared to $5.48 million in FY25, driven by increased exploration and share-based payments.

• Net assets increased to $6.31 million as of 30 June 2026, up from $0.43 million a year earlier.

• Cash and cash equivalents at year-end were $6.86 million, up from $0.93 million in FY25.

• No dividends were paid or declared.

Outlook and guidance

• Ongoing focus on expanding resource definition and systematic drilling at Minta Project, with further assay results expected in Q4 2026.

• Continued collaboration with Tronox on metallurgical flowsheet and product qualification.

• Awaiting finalisation of uranium permits in Cameroon and planning for future exploration.