Northern Minerals (NTU) H2 2025 earnings summary

Executive summary

• Focused on advancing the Browns Range Heavy Rare Earth Project, including completion of a Definitive Feasibility Study (DFS), project funding, and exploration activities.

• Raised $45.4M through a placement and share purchase plan to support project development and maintain assets.

• Management changes included the appointment of a new Project Director and ongoing board and executive team enhancements.

Financial highlights

• Net loss after tax for FY25 was $27.4M, an improvement from $31.6M in FY24.

• Total income was $2.6M, down from $5.6M in the prior year, mainly due to lower government grant receipts.

• Cash at year-end was $24.3M, up from $8.3M, driven by successful capital raising.

• Basic EPS was a loss of 0.36 cents per share, compared to a loss of 0.55 cents in FY24.

• Total assets increased to $28.8M from $13.9M, and net assets turned positive at $1.7M from a deficit of $14.0M.

Outlook and guidance

• Intends to continue development of the Browns Range Project, including securing funding and progressing regulatory approvals.

• Ongoing discussions with government and strategic investors for project finance, with no binding commitments yet.