Rupert Resources Ltd (RUP) Q4 2025 earnings summary

Executive summary

• Completed Pre-feasibility Study (PFS) for the Ikkari Gold Project in February 2025, confirming strong project economics and low-cost, large-scale gold development potential in a stable jurisdiction.

• Strengthened Board and project management team, with new independent directors and a nominee from a major shareholder appointed in 2025.

• Advanced project design through major optimisation studies in processing, waste, and water management, supporting permitting strategy.

• Appointed Ausenco Engineering as lead consultant for the Feasibility Study in February 2026.

Financial highlights

• Cash and cash equivalents of $94.2 million as of December 31, 2025.

• Spent $25.1 million on general exploration and property, plant, and equipment during 2025.

• Recorded comprehensive income of $2.1 million for 2025, compared to a comprehensive loss of $8.1 million for the ten months ended December 31, 2024.

• Net loss per share of $(0.04) for 2025, improved from $(0.05) for the ten months ended December 31, 2024.

• Raised $51.8 million through equity financing in March 2025 and $28.6 million via private placement in April 2025.

Outlook and guidance

• Feasibility Study for the Ikkari Project expected in H1 2027, with updated Environmental Impact Assessment targeted for Q4 2026.

• Over $16 million committed to exploration across the expanded land package in 2026 and 2027.

• Targeting an additional 3Moz of standalone gold discoveries over the next five years.