Rupert Resources Ltd (RUP) Q2 2025 earnings summary

Executive summary

• Advanced the Ikkari project towards feasibility, following a positive pre-feasibility study in Q1 2025.

• Continued exploration and drilling at Ikkari and satellite targets, with notable high-grade gold intercepts at Heinä South.

• Progressed environmental permitting and stakeholder engagement for Ikkari.

Financial highlights

• Spent $13.9 million on exploration projects in the six months ending June 30, 2025.

• Held $106 million in cash and short-term investments as of June 30, 2025.

• Net loss of $4.7 million and net loss per share of $0.02 for the six-month period.

• Raised $51.8 million via public offering and $28.5 million via private placement in H1 2025.

Outlook and guidance

• Focus for the next 12 months is advancing Ikkari to feasibility, ongoing exploration, and environmental permitting.

• Planned spend of approximately $35 million for project studies, exploration, and administration through June 2026.

• Updated closure plan for Pahtavaara expected later in 2025.