Lion Rock Minerals (LRM) Q4 2026 TU earnings summary

Executive summary

• New CEO Theuns de Bruyn and COO Grant Scott, both ex-Sierra Rutile, appointed and based in Cameroon, signaling a strategic shift and leadership renewal.

• Board strengthened with global uranium authority Duncan Craib as Chairman and African commodity specialist David Brophy as Director.

• Focus on systematic growth for high-grade monazite and rutile, supporting titanium pigment and rare earth supply chains.

• Exploration momentum maintained across 8,800km² land package, with significant discoveries at Mboma-Loum corridor and Minta 1.

• Hosted U.S. Embassy delegation, highlighting international recognition and critical-minerals status.

Financial highlights

• Cash balance at quarter end was approximately $6.87 million, after raising $2 million via a strategic placement.

• Net cash used in operating activities for the quarter was $2.13 million, primarily for exploration and evaluation.

• Net cash from investing activities was $137,000, including $200,000 from tenement disposals.

• Net cash from financing activities was $1.99 million, mainly from equity issuance.

• Estimated 3.2 quarters of funding available at current expenditure rates.

Outlook and guidance

• Ongoing drilling and assay results expected from Mboma, Loum, Minta 1, and Minta Nord over coming months.

• Focused drilling at Minta Est to define a major shallow monazite-REE system, with assay results commencing August 2026.

• Feasibility studies and resource definition advancing for rutile and monazite targets.

• Continued assessment of Kitongo and Lolo Uranium Projects and Yendon Kaolin Project.