Quantum Graphite (QGL) Q2 2025 TU earnings summary

Executive summary

• Lodged final US EXIM Bank application for $300M to fund Project Utile, including Uley 2 mining and South Carolina HPG facility.

• Granted new exploration licence EL7019, expanding exploration territory by 42km².

• Imminent release of Uley Region JORC 2012 exploration target and final geophysical survey results.

• Sunlands Energy JV achieved scalable HPG purification process for proposed South Carolina facility.

Financial highlights

• Cash at bank was $2.07M at 31 December 2024, increasing to $2.61M by 29 January 2025.

• Net cash used in operating activities was $(733)K for the quarter.

• Raised $1.5M from equity and $550K from borrowings during the quarter.

• Total undiscounted cash flow for Uley 2 Phase 1 estimated at A$990.4M, with capex of A$152.7M.

Outlook and guidance

• Expecting Uley Region JORC 2012 exploration target and exploration results within 14 days.

• Project Utile aims for 100,000 tpa flake graphite concentrate and 100,000 tpa HPG production.

• South Carolina HPG facility site selection and environmental planning ongoing.