Winsome Resources (WR1) H2 2025 earnings summary

Executive summary

• Advanced Adina Lithium Project in Quebec, confirming it as a capital-efficient, large-scale hard-rock lithium asset with a 78Mt resource at 1.15% Li₂O and a 21-year mine life, supported by a positive Scoping Study and regulatory progress.

• Discovered high-grade lithium-cesium mineralisation at Sirmac-Clapier, expanding exposure to critical minerals and enhancing project pipeline.

• Terminated the Renard acquisition option post-year-end to preserve capital and focus on Adina, but may revisit the opportunity if conditions improve.

• Strengthened First Nations engagement and advanced environmental and social baseline studies, supporting regulatory milestones and project de-risking.

Financial highlights

• Reported a total comprehensive loss of $21.1 million for FY25, compared to a $13.5 million loss in FY24.

• Loss per share was 13.33 cents, down from 2.64 cents in the prior year.

• Cash and cash equivalents at year-end were $18.3 million, down from $45.4 million at June 2024.

• Net assets stood at $86.0 million, compared to $100.8 million a year earlier.

• Raised $7.8 million from share issues, with total equity capital at $119.6 million.

Outlook and guidance

• Focus remains on advancing Adina through feasibility, permitting, and ESIA processes, with ongoing baseline studies and stakeholder engagement.

• Strategy prioritizes disciplined capital management, readiness for lithium market recovery, and value creation through exploration and project development.