Silver Mines (SVL) H2 2025 earnings summary

Executive summary

• Advanced pre-development and technical optimization at Bowdens Silver Project, the largest undeveloped silver deposit in Australia, with updated feasibility study and resource estimates improving project economics and reducing environmental footprint.

• Expanded international footprint with acquisition of Calico North Silver Project and farm-in right to Kramer Hills Gold-Silver Project in California, USA.

• Focused on regulatory progress, exploration, and disciplined capital management to transition Bowdens into production and unlock US asset value.

Financial highlights

• Group loss after tax: $3,768,394 (2024: $2,217,610).

• Exploration and development expenditure: $9,037,537 (2024: $10,110,754).

• Net assets: $157,149,543 (2024: $137,610,351), with $101,661,960 invested in exploration expenditure.

• Cash and cash equivalents at year-end: $19,299,496 (2024: $10,805,188).

• No revenue from silver concentrate sales; no dividends declared or paid.

Outlook and guidance

• Pivotal year ahead as Bowdens Silver Project moves toward development pending regulatory approvals.

• Continued exploration and resource growth targeted at US and NSW projects.

• Capital raised post-year-end to support project approvals, exploration, and working capital.