Unico Silver (USL) H2 2025 earnings summary

Executive summary

• Achieved significant exploration milestones in Argentina, with high-grade silver discoveries at Cerro León and Joaquin projects, positioning as a leading emerging silver developer on the ASX.

• Completed major acquisitions, including full ownership of Sierra Blanca and Minera Joaquin, consolidating key assets and expanding the project pipeline.

• Raised $30 million in FY2025 and an additional $25 million in August 2025, strengthening the balance sheet and enabling accelerated drilling and resource upgrades.

• Launched PLUS 150 and BEYOND 300 strategies, targeting 150 million ounces of pit-constrained silver equivalent and long-term growth beyond 300 million ounces.

Financial highlights

• Reported a net loss after tax of $24.0 million for FY2025, compared to a $2.8 million loss in FY2024, mainly due to increased exploration expenditure.

• Revenue included $1.18 million from bond trading and $970,000 from the sale of Fisher Resources Pty Ltd.

• Cash and cash equivalents at year-end were $12.5 million, up from $5.1 million the previous year.

• Total assets increased to $15.0 million from $6.7 million year-over-year.

• Basic and diluted loss per share was 7.48 cents, compared to 0.95 cents in FY2024.

Outlook and guidance

• 2026 will focus on transitioning from resource definition to project development, with updated JORC Mineral Resource Estimates and a maiden Scoping Study for Joaquin and Cerro León.

• Drilling will target high-margin, pit-constrained oxide ounces and deeper sulphide extensions to build resource scale.

• The new RIGI regime in Argentina is expected to accelerate permitting and enhance project economics.