Saturn Metals (STN) H2 2025 earnings summary

Executive summary

• Achieved a 22% year-over-year increase in Apollo Hill Mineral Resource to 2.24Moz gold, with 82% now classified as Measured and Indicated, supporting a robust Prefeasibility Study (PFS) and future Ore Reserve declaration.

• Raised $32.25 million in equity through placements and a share purchase plan, boosting cash reserves to $27.18 million and market capitalisation to $165.5 million as of 30 June 2025.

• Advanced PFS with significant progress in mine planning, process engineering, environmental studies, and stakeholder engagement, targeting project development and early-stage production.

• Suffered a contractor fatality at Apollo Hill in December 2024, prompting ongoing safety reviews and investigations.

Financial highlights

• Net loss after tax for FY2025 was $5.12 million, compared to $2.77 million in FY2024; loss per share was $0.02 (FY2024: $0.01).

• Net assets increased to $83.83 million (FY2024: $42.81 million), driven by equity raisings and capitalised exploration costs.

• Cash and cash equivalents at year-end were $27.18 million, up from $4.11 million in the prior year.

• Exploration and evaluation assets rose to $58.63 million (FY2024: $40.01 million).

Outlook and guidance

• PFS and inaugural Ore Reserve for Apollo Hill targeted for release by end of calendar 2025, with a Definitive Feasibility Study planned for 2026.

• Ongoing drilling aims to further upgrade resources and test new high-grade zones, including the Iris Zone.

• Early-stage permitting and environmental studies underway to support potential staged project development and accelerated production.