Newfield Resources (NWF) Q2 2025 TU earnings summary

Executive summary

• Mine development at Tongo Diamond Mine remained restricted as funding opportunities were pursued; base services maintained.

• Strategic review by an independent third party confirmed confidence in the project and proposed a joint development arrangement to reduce upfront capital and operating costs.

• Bulk sampling of the Kundu Segment D kimberlite postponed pending joint development agreement.

Financial highlights

• Net cash used in operating activities for the quarter was A$431,000; for the six months, A$1,293,000.

• Net cash from financing activities was A$429,000 for the quarter and A$890,000 for the six months.

• Cash and cash equivalents at quarter end were A$3,000.

• Proceeds from borrowings totaled A$1,240,000 for the six months.

Outlook and guidance

• Outcome on the joint development arrangement for Tongo Diamond Mine anticipated during the March 2025 quarter.

• Company continues to pursue funding initiatives for both short- and long-term capital requirements and to refinance existing debt.