Viridis Mining and Minerals (VMM) H2 2025 earnings summary

Executive summary

• Transitioned from explorer to emerging developer with a clear path to production, focusing on the Colossus Project in Brazil, now the largest and highest-grade MREO ionic clay project globally.

• Achieved a 140% increase in JORC Mineral Resource Estimate to 493Mt @ 2,508ppm TREO and 601ppm MREO, with 329Mt in Measured and Indicated category.

• Completed a Pre-Feasibility Study showing a 20-year LOM, pre-tax NPV8 of US$1.41 billion, and average annual EBITDA of US$197 million at conservative pricing.

• Secured major funding initiatives, including selection for a BRL $5 billion strategic funding pool and AU$11.5M placement, boosting pro forma cash to AU$58.5M.

• Advanced permitting, stakeholder engagement, and regulatory milestones, including EIA lodgement and municipal land use certification.

Financial highlights

• Net loss after tax of $2,663,186 for FY2025, a significant improvement from $8,314,168 in FY2024.

• Cash at bank at 30 June 2025 was $1,149,795, down from $5,231,182 in 2024.

• Net assets increased to $28,506,983 from $20,698,548 year-over-year.

• Exploration expenditure rose to $27,678,685 from $15,781,593, reflecting project advancement.

• No dividends declared or paid.

Outlook and guidance

• FY2026 expected to be pivotal with movement toward Final Investment Decision, expanded downstream capabilities, and formalisation of offtake and project finance.

• Fully funded through FID and early project execution, with strong government and institutional backing.