Medallion Metals (MM8) H1 2025 earnings summary

Executive summary

• Net loss after tax for the half year ended 31 December 2024 was $1,825,281, compared to a loss of $1,253,666 for the same period last year.

• Net assets increased by $3,246,696 to $15,190,487 as of 31 December 2024.

• Cash position, including restricted cash, was $3,403,666 at period end, up from $2,633,611 a year earlier.

• Principal activity remained mineral exploration, with a focus on the Kundip Mining Centre and potential acquisition of Forrestania Nickel Operation assets.

Financial highlights

• Revenue from camp sub-lease and other income totaled $757,936 for the half year.

• Exploration and evaluation expenses were $1,501,744; administrative expenses $818,432; share-based payments $146,158.

• Net cash used in operating activities was $1,278,829; net cash used in investing activities was $1,912,415.

• $4,923,569 was raised from share issues, with $114,523 paid in interest on borrowings.

• Basic and diluted loss per share was $(0.01) for the period.

Outlook and guidance

• A scoping study confirmed the technical and commercial viability of developing Kundip Mining Centre resources, with strong cashflows and attractive returns projected.

• Opportunities identified to enhance project returns include further drilling, optimization of mining strategies, and redeployment of surplus infrastructure.

• Approval processes for mining at RGP and ore haulage to Forrestania are underway.