Earnings release
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Page 1 of 10 Market Announcement 29 July 2025 June 2025 Quarterly Activities Report Coolgardie Gold Operations: • Milling at the Three Mile Hill (TMH) processing plant remained stable and efficient, with a total of 361,158 tonnes processed — including 257,980 tonnes of the Company’s own ore and 1 03,178 tonnes of toll treatment ore. A record month of Focus gold poured was achieved in June, delivering 3,874 ounces. • A total of 151,189 tonnes of ore were mined across the Greenfields, Dreadnought, Alicia open pits and Bonnie Vale Underground, including 11,371 tonnes from development ore at 8.26 g/t. • The Company’s own ore achieved an average grade of 1.09 g/t with a metallurgical recovery of 92.2%, peaking at 93.7% on high-grade ore. • 5,949.8 ounces of gold were sold at an average realised price of A$ 5,178 per ounce, alongside 561 ounces of silver credits. • The transition to owner-operated surface mining was fully embedded, with two fleets operational and monthly movement approaching 0.5M BCM. • Mining advanced at Alicia and recommenced at Dreadnought, with development underway across both pits and updated grade control models in place. • Development at Bonnie Vale Underground progressed ahead of plan, with 907.6 metres achieved during the quarter and stoping scheduled to commence in October. • Key infrastructure upgrades at Bonnie Vale were completed, including the 72 -metre raisebore shaft, permanent power station, substation, and pump station. Exploration/Resource Development Activities: Coolgardie Gold Project • Surface drilling at Bonnie Vale enabled a model update. • Underground drilling is planned next quarter to extend strike and support grade control. • Dreadnought and Alicia grade control drilling completed ahead of mining operations. • CNX grade control drilling was completed, with data validated ahead of Q3 block model update. • New exploration area, Greater Undaunted North, was identified covering the Cookes, Lady Loch, Lady Maude, Adelaide, and Friendship deposits. Corporate Highlights: • Cash (unrestricted) as of 30 June 2025: $74.186 million. For personal use only
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Market Announcement | Page 2 of 10 West Australian gold company Focus Minerals ( ASX: FML) (Focus or the Company) is pleased to provide its Quarterly Activities Report for the quarter ended 30 June 2025. Most of the Company’s effort during the quarter was directed towards the Coolgardie Gold Operations (CGO). Coolgardie Gold Project The Coolgardie Gold Project ( Coolgardie) covers 116.6km2 of highly prospective tenements on the outskirts of the Coolgardie township in the Goldfields region . The Company’s efforts are focused on optimising mining and processing operations, whilst developing of the Bonnie Vale Underground Mine. Coolgardie Production Activities Open Pit Mining: • Surface mining transitioned from Greenfields to Dreadnought and Alicia during the quarter. • Two fully operational owner-mining fleets were established, with a 135T excavator deployed at Dreadnought and a 150T excavator at Alicia. • Monthly material movement ramped up to 470,090 BCM in a record setting June, reflecting strong execution and productivity gains under the owner-operator model. • Total material mined was 2,367,114 tonnes for the quarter. • Total ore mined was 132,186 tonnes at 1.07 g/t for 4,533 ounces. • Total material movement across the pits reached approximately 1.07 million BCM. • Greenfields was completed in early May, with 130,719 tonnes mined at 1.03 g/t for 4,325 ounces. • Dreadnought was restarted in June, producing 20,803 tonnes at 0.63 g/t for 420 ounces, with activities focused on re-establishing access and minor mining in the northern section. • Alicia mined 68,618 tonnes at 0.96 g/t for 2,110 ounces during the quarter. • The low-grade stockpile was leveraged to maintain uninterrupted processing during April and June. Bonnie Vale Underground Mining • Bonnie Vale produced 11,371 tonnes of development ore at 8.26 g/t for 3,022 ounces, with ore development focused on the 1300 Level west ore drive. • An additional 18,332 tonnes at 0.60 g/t for 353 ounces was reclaimed from Bonnie Vale Historic Tails. • Development activity ramped up significantly through the quarter, supported by high equipment availability. • Development progress for the quarter totalled 907.6 metres, comprising 773.6 metres of capital development and 134.0 metres of operating development. • A record 341.2 metres of single jumbo development was achieved in June, highlighting the capability of the team and the growing maturity of underground execution. • Equipment availability a strong enabler with 87% across drill, load, and haul fleets. • Key infrastructure milestones include a 72m raise-bore ventilation shaft , permanent power station, underground substation, and pump station installed • Overall mine d evelopment remains ahead of schedule . Stoping activities have been brought forward to commence in early December Quarter. For personal use only
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Market Announcement | Page 3 of 10 TMH Ore Processing: • Processing operations at the Three Mile Hill (TMH) plant remained stable and efficient throughout the quarter. • A total of 361,158 tonnes of ore was processed, including 257,980 tonnes of the Company’s own ore and 1 03,178 tonnes of toll tr eatment ore. A record month of Focus gold poured was achieved in June, delivering 3,874 ounces. • The average grade of Focus ore processed was 1.09 g/t. Recovery averaged 92.2%, peaking at 93.7% on high-grade ore. • Gold sales totalled 5,949.81 ounces at an average price of A$ 5,178/oz. Silver credits totalled 561 ounces. • High throughput rates were maintained, leveraging stable plant performance to mitigate the impact of equipment availability challenges. • Toll milling was strategically utilised to maintain effective mill utilisation at 90%. Supporting consistent monthly throughput above 120,000 tonnes. Enabling pit transition and early development at Alicia and Dreadnought. Mine Geology: Bonnie Vale Underground Mine • The surface drilling program completed in March returned all assay and geological data during the quarter. • As part of the advancement in underground systems, Rock Mapper software was deployed, enabling real-time face mapping and 3D LIDAR scanning, significantly improving geological data capture and reducing the need for manual survey intervention. • Surface drilling is planned to test Bonnie Vale West for resource extension. • Underground diamond drilling will commence next quarter to target strike extensions, support grade control modelling, and enhance life-of-mine confidence Dreadnaught and Alicia Open Pit • Prior to the recommencement of mining at Dreadnought, grade control drilling was completed. • Wireframe and block model remodelling was also undertaken during the quarter. • The objective of the modelling was to increase resource confidence level. CNX Open Pit • Phase one grade control drilling for CNX was completed during the quarter. • All assay results and geological logging were finalised. • The data has been validated and is ready for block model updating in the September quarter. Coolgardie Exploration Activities Greater Undaunted North Design work was completed for the Greater Undaunted North area, covering the Cookes, Lady Loch, Lady Maude, Adelaide, and Friendship deposits. The program aims to support the development of a centralised mining hub in South Coolgardie. Greater Undaunted North presents a strong value, low-risk addition to the resource base and lays the foundation for broader regional consolidation. Future proposals will extend the strategy to additional southern deposits, including Possum, New Australian, and Helensvale. For personal use only
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Market Announcement | Page 4 of 10 Corporate Focus received approximately $ 36.23 million from the proceeds of sale of gold and silver , plus toll milling fees during the Quarter. Focus spent $1.46 million on exploration during the Quarter, including on drilling, assays and payments to consultants and exploration personnel. During the Quarter, the Company entered into an agreement with Genesis Minerals Limited for the sale for the Laverton Gold Project for $250 million cash. The sale was completed on 4 June 2025. As part of its capital management initiative, Focus has elected to repay its major shareholder, Shandong Gold, of all outstanding loans plus interest of approximately $174.8 million using proceeds from the sale. In compliance with ASX Listing Rule 5.3.5, Focus reports it has paid $254,000 to related parties of the Company and their associates, which included Executive Directors’ salaries, non-Executive Directors’ fees, superannuation and rent for the Directors. As of 30 June 2025, the Company’s cash position is $74.186 million. For personal use only
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Market Announcement | Page 5 of 10 Tenement Movements during the Quarter Coolgardie Gold Project Tenement Location Percentage as at 1 April 2025 Percentage as at 30 June 2025 Note M15/0150 Bayleys 100% 100% M15/0630 Bayleys 100% 100% M15/1434 Bayleys 100% 100% M15/1788 Bayleys 100% 100% P15/5717 Bayleys 100% 100% P15/6254 Bayleys 100% 100% P15/6256 Bayleys 100% 100% P15/6868 Bayleys 100% 100% M15/0277 Bonnie Vale 100% 100% M15/0365 Bonnie Vale 100% 100% M15/0595 Bonnie Vale 100% 100% M15/0662 Bonnie Vale 100% 100% M15/0711 Bonnie Vale 100% 100% M15/0770 Bonnie Vale 100% 100% M15/0852 Bonnie Vale 100% 100% M15/0857 Bonnie Vale 100% 100% M15/0877 Bonnie Vale 100% 100% M15/0981 Bonnie Vale 100% 100% M15/1384 Bonnie Vale 100% 100% M15/1444 Bonnie Vale 100% 100% M15/1760 Bonnie Vale 100% 100% M15/1853 Bonnie Vale 0% 0% Under application P15/5159 Bonnie Vale 100% 100% P15/5702 Bonnie Vale 100% 100% P15/5703 Bonnie Vale 100% 100% P15/5704 Bonnie Vale 100% 100% P15/6598 Bonnie Vale 100% 100% P15/6670 Bonnie Vale 100% 100% P15/6777 Bonnie Vale 100% 100% P15/6801 Bonnie Vale 0% 0% Under application P15/6825 Gunga 0% 0% Under application P15/6826 Gunga 0% 0% Under application P15/6827 Gunga 0% 0% Under application P15/6828 Gunga 0% 0% Under application G15/0007 Infrastructure 100% 100% G15/0046 Infrastructure 0% 0% Under application L15/0027 Infrastructure 100% 100% L15/0028 Infrastructure 100% 100% L15/0034 Infrastructure 100% 100% L15/0042 Infrastructure 100% 100% L15/0051 Infrastructure 100% 100% L15/0059 Infrastructure 100% 100% L15/0063 Infrastructure 100% 100% L15/0077 Infrastructure 100% 100% L15/0078 Infrastructure 100% 100% L15/0088 Infrastructure 100% 100% L15/0090 Infrastructure 100% 100% For personal use only
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Market Announcement | Page 6 of 10 Tenement Location Percentage as at 1 April 2025 Percentage as at 30 June 2025 Note L15/0095 Infrastructure 100% 100% L15/0096 Infrastructure 100% 100% L15/0114 Infrastructure 100% 100% L15/0116 Infrastructure 100% 100% L15/0119 Infrastructure 100% 100% L15/0122 Infrastructure 100% 100% L15/0123 Infrastructure 100% 100% L15/0126 Infrastructure 100% 100% L15/0127 Infrastructure 100% 100% L15/0130 Infrastructure 100% 100% L15/0161 Infrastructure 100% 100% L15/0164 Infrastructure 100% 100% L15/0168 Infrastructure 100% 100% L15/0169 Infrastructure 100% 100% L15/0171 Infrastructure 100% 100% L15/0172 Infrastructure 100% 100% L15/0173 Infrastructure 100% 100% L15/0174 Infrastructure 100% 100% L15/0175 Infrastructure 100% 100% L15/0177 Infrastructure 100% 100% L15/0179 Infrastructure 100% 100% L15/0186 Infrastructure 100% 100% L15/0193 Infrastructure 100% 100% L15/0194 Infrastructure 100% 100% L15/0200 Infrastructure 100% 100% L15/0211 Infrastructure 100% 100% L15/0283 Infrastructure 100% 100% L15/0294 Infrastructure 100% 100% L15/0371 Infrastructure 100% 100% L15/0403 Infrastructure 0% 0% Under application L15/0405 Infrastructure 0% 0% Under application L15/0421 Infrastructure 0% 0% Under application L15/0455 Infrastructure 0% 0% Under application L15/0458 Infrastructure 0% 0% Under application L15/0459 Infrastructure 100% 100% P15/5971 Londonderry 100% 100% P15/5972 Londonderry 100% 100% P15/6118 Londonderry 100% 100% P15/6119 Londonderry 100% 100% P15/6120 Londonderry 100% 100% P15/6121 Londonderry 100% 100% P15/6122 Londonderry 100% 100% P15/6123 Londonderry 100% 100% P15/6176 Londonderry 100% 100% P15/6177 Londonderry 100% 100% P15/6178 Londonderry 100% 100% M15/0385 Lord Bob 100% 100% M15/1789 Lord Bob 100% 100% P15/5712 Lord Bob 100% 100% P15/5939 Lord Bob 100% 100% P15/6102 Lord Bob 100% 100% For personal use only
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Market Announcement | Page 7 of 10 Tenement Location Percentage as at 1 April 2025 Percentage as at 30 June 2025 Note M15/0384 Norris 100% 100% M15/0515 Norris 100% 100% M15/0761 Norris 100% 100% M15/0791 Norris 100% 100% M15/0871 Norris 100% 100% M15/1153 Norris 100% 100% M15/1422 Norris 100% 100% M15/1793 Norris 100% 100% M15/1918 Norris 0% 0% Under application M15/1922 Norris 0% 0% Under application M15/1923 Norris 0% 0% Under application P15/6002 Norris 100% 100% P15/6033 Norris 100% 100% P15/6605 Norris 100% 100% P15/6633 Norris 100% 100% P15/6639 Norris 100% 100% P15/6667 Norris 100% 100% P15/6785 Norris 100% 100% P15/6915 Norris 0% 0% Under application M15/0154 Three Mile Hill 100% 100% M15/0636 Three Mile Hill 100% 100% M15/0645 Three Mile Hill 100% 100% M15/0781 Three Mile Hill 100% 100% M15/0827 Three Mile Hill 100% 100% M15/1341 Three Mile Hill 100% 100% M15/1357 Three Mile Hill 100% 100% M15/1358 Three Mile Hill 100% 100% M15/1359 Three Mile Hill 100% 100% M15/1432 Three Mile Hill 100% 100% P15/6541 Three Mile Hill 100% 100% M15/0023 Tindals 100% 100% M15/0237 Tindals 100% 100% M15/0410 Tindals 100% 100% M15/0411 Tindals 100% 100% M15/0412 Tindals 100% 100% M15/0646 Tindals 100% 100% M15/0660 Tindals 100% 100% M15/0675 Tindals 100% 100% M15/0958 Tindals 100% 100% M15/0966 Tindals 100% 100% M15/1114 Tindals 100% 100% M15/1262 Tindals 100% 100% M15/1293 Tindals 100% 100% M15/1294 Tindals 100% 100% M15/1433 Tindals 100% 100% M15/1461 Tindals 100% 100% P15/6251 Tindals 100% 100% P15/6252 Tindals 100% 100% P15/6253 Tindals 100% 100% P15/6257 Tindals 100% 100% P15/6333 Tindals 0% 0% Under application For personal use only
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Market Announcement | Page 8 of 10 Tenement Location Percentage as at 1 April 2025 Percentage as at 30 June 2025 Note P15/6335 Tindals 100% 100% M15/1874 Nepean 0% 0% Royalty Rights P15/5574 Nepean 0% 0% Royalty Rights P15/5575 Nepean 0% 0% Royalty Rights P15/5739 Nepean 0% 0% Royalty Rights Laverton Gold Project Tenement Location Percentage as at 1 April 2025 Percentage as at 30 June 2025 Note E38/1864 Admiral Hill - Barnicoat 100% 0% Divested E38/3232 Admiral Hill - Barnicoat 100% 0% Divested E38/3238 Admiral Hill - Barnicoat 100% 0% Divested E38/3565 Admiral Hill - Barnicoat 100% 0% Divested E38/3661 Admiral Hill - Barnicoat 100% 0% Divested E38/3691 Admiral Hill - Barnicoat 100% 0% Divested E38/3824 Admiral Hill - Barnicoat 0% 0% Under application, Divested M38/0264 Admiral Hill - Barnicoat 100% 0% Divested M38/0318 Admiral Hill - Barnicoat 100% 0% Divested M38/0376 Admiral Hill - Barnicoat 100% 0% Divested M38/0377 Admiral Hill - Barnicoat 100% 0% Divested M38/0387 Admiral Hill - Barnicoat 100% 0% Divested M38/0401 Admiral Hill - Barnicoat 100% 0% Divested M38/0507 Admiral Hill - Barnicoat 100% 0% Divested M38/1032 Admiral Hill - Barnicoat 100% 0% Divested M38/1042 Admiral Hill - Barnicoat 100% 0% Divested P38/4519 Admiral Hill - Barnicoat 100% 0% Divested E38/1642 Burtville 100% 0% Divested E38/2032 Burtville 100% 0% Divested E38/3050 Burtville 100% 0% Divested E38/3051 Burtville 100% 0% Divested E38/3088 Burtville 100% 0% Divested E38/3217 Burtville 100% 0% Divested E38/3659 Burtville 100% 0% Divested E38/3816 Burtville 0% 0% Under application, Divested M38/0008 Burtville 100% 0% Divested M38/0073 Burtville 91% 0% Divested M38/0089 Burtville 91% 0% Divested M38/0261 Burtville 100% 0% Divested M38/1281 Burtville 100% 0% Divested P38/4547 Burtville 100% 0% Divested E38/3424 Central Laverton 100% 0% Divested E38/3858 Central Laverton 0% 0% Under application, Divested E38/3859 Central Laverton 0% 0% Under application, Divested M38/0143 Central Laverton 100% 0% Divested M38/0236 Central Laverton 100% 0% Divested M38/0270 Central Laverton 100% 0% Divested For personal use only
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Market Announcement | Page 9 of 10 Tenement Location Percentage as at 1 April 2025 Percentage as at 30 June 2025 Note M38/0342 Central Laverton 100% 0% Divested M38/0345 Central Laverton 100% 0% Divested M38/0363 Central Laverton 100% 0% Divested M38/0364 Central Laverton 100% 0% Divested M38/1187 Central Laverton 100% 0% Divested E38/3639 Chatterbox 100% 0% Divested E38/3821 Chatterbox 100% 0% Divested E38/3823 Chatterbox 0% 0% Under application, Divested E38/3830 Chatterbox 100% 0% Divested E38/3832 Chatterbox 100% 0% Divested M38/0049 Chatterbox 100% 0% Divested M38/0101 Chatterbox 100% 0% Divested M38/0535 Chatterbox 100% 0% Divested M38/0693 Chatterbox 100% 0% Divested G38/0020 Infrastructure 100% 0% Divested G38/0024 Infrastructure 100% 0% Divested G38/0025 Infrastructure 100% 0% Divested G38/0033 Infrastructure 100% 0% Divested L38/0034 Infrastructure 100% 0% Divested L38/0052 Infrastructure 100% 0% Divested L38/0053 Infrastructure 100% 0% Divested L38/0054 Infrastructure 100% 0% Divested L38/0055 Infrastructure 100% 0% Divested L38/0056 Infrastructure 100% 0% Divested L38/0057 Infrastructure 100% 0% Divested L38/0063 Infrastructure 100% 0% Divested L38/0075 Infrastructure 100% 0% Divested L38/0076 Infrastructure 100% 0% Divested L38/0078 Infrastructure 100% 0% Divested L38/0092 Infrastructure 100% 0% Divested L38/0101 Infrastructure 100% 0% Divested L38/0108 Infrastructure 100% 0% Divested L38/0152 Infrastructure 100% 0% Divested L38/0153 Infrastructure 100% 0% Divested L38/0160 Infrastructure 100% 0% Divested L38/0165 Infrastructure 100% 0% Divested L38/0166 Infrastructure 100% 0% Divested L38/0173 Infrastructure 100% 0% Divested L38/0177 Infrastructure 100% 0% Divested L38/0179 Infrastructure 100% 0% Divested L38/0183 Infrastructure 100% 0% Divested L38/0231 Infrastructure 100% 0% Divested L38/0335 Infrastructure 100% 0% Divested L38/0336 Infrastructure 100% 0% Divested L38/0337 Infrastructure 100% 0% Divested L38/0338 Infrastructure 100% 0% Divested L38/0339 Infrastructure 0% 0% Under application, Divested E38/2873 Lake Carey 100% 0% Divested E38/3186 Lancefield 100% 0% Divested M38/0037 Lancefield 100% 0% Divested For personal use only
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Market Announcement | Page 10 of 10 Tenement Location Percentage as at 1 April 2025 Percentage as at 30 June 2025 Note M38/0038 Lancefield 100% 0% Divested M38/0159 Lancefield 100% 0% Divested M38/0547 Lancefield 100% 0% Divested M38/1272 Lancefield 100% 0% Divested P38/4347 Lancefield 100% 0% Divested P38/4348 Lancefield 100% 0% Divested P38/4349 Lancefield 100% 0% Divested E38/1725 Prendergast 100% 0% Divested E38/1869 Prendergast 100% 0% Divested E38/2862 Prendergast 100% 0% Divested P38/4551 Prendergast 100% 0% Divested M38/0425 Murrin Murrin 0% 0% Au Rights, Divested M38/0505 Murrin Murrin 0% 0% Au Rights, Divested The release of this ASX announcement was authorised by Mr Wanghong Yang, Executive Chairman of Focus Minerals Ltd. For further information please contact: Nicholas Ong Company Secretary Focus Minerals Ltd. Phone: +61 8 9215 7888 Email: info@focusminerals.com.au About Focus Minerals Limited (ASX: FML) Focus is committed to delivering shareholder value from the Coolgardie Gold Operation, a 116.6km 2 tenement holding that includes a 1.2Mtpa processing plant at Three Mile Hill, with commencement of mining activities in mid- 2023. A Life of Mine plan with 7-year production for 402,000oz of gold was announced to the ASX on 24 October 2022. Competent Person Statement The information in this announcement that relates to Exploration Results is based on information compiled by Mr John Morgan, who is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM ). Mr Morgan is an employee of Focus Minerals Limited. Mr Morgan has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. For personal use only
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Rule 5.5 ASX Listing Rules Appendix 5B (17/07/20) Page 1 + See chapter 19 of the ASX Listing Rules for defined terms. Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Name of entity Focus Minerals Limited ABN Quarter ended (“current quarter”) 56 005 470 799 30th June 2025 Consolidated statement of cash flows Current quarter $A’000 Year to date (6 months) $A’000 1. Cash flows from operating activities 1.1 Receipts from customers 36,227 74,499 1.2 Payments for (a) exploration & evaluation (27) (34) (b) development (10,541) (21,962) (c) production (28,718) (55,196) (d) staff costs (7,179) (12,282) (e) administration and corporate costs (4,995) (5,758) 1.3 Dividends received (see note 3) - - 1.4 Interest received 330 743 1.5 Interest and other costs of finance paid (9,799) (11,948) 1.6 Income taxes paid - - 1.7 Government grants and tax incentives - - 1.8 Other - - 1.9 Net cash from / (used in) operating activities (24,702) (31,938) 2. Cash flows from investing activities - - 2.1 Payments to acquire or for: (a) entities (b) tenements - - (c) property, plant and equipment (5,363) (8,765) (d) exploration & evaluation (1,461) (2,531) (e) investments - - (f) other non-current assets - - For personal use only
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 2 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (6 months) $A’000 2.2 Proceeds from the disposal of: 250,000 250,000 (a) entities (b) tenements - - (c) property, plant and equipment - - (d) investments - - (e) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (bond/deposit paid & released) - 3 2.6 Net cash from / (used in) investing activities 243,176 238,707 3. Cash flows from financing activities - - 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options - - 3.4 Transaction costs related to issues of equity securities or convertible debt securities - - 3.5 Proceeds from borrowings - 15,924 3.6 Repayment of borrowings (165,007) (165,007) 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid - - 3.9 Other (payments into term deposits) - - 3.10 Net cash from / (used in) financing activities (165,007) (149,083) 4. Net increase / (decrease) in cash and cash equivalents for the period 53,467 57,686 4.1 Cash and cash equivalents at beginning of period 20,716 16,500 4.2 Net cash from / (used in) operating activities (item 1.9 above) (24,702) (31,938) 4.3 Net cash from / (used in) investing activities (item 2.6 above) 243,176 238,707 4.4 Net cash from / (used in) financing activities (item 3.10 above) (165,007) (149,083) 4.5 Effect of movement in exchange rates on cash held 3 - 4.6 Cash and cash equivalents at end of period 74,186 74,186 For personal use only
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 3 + See chapter 19 of the ASX Listing Rules for defined terms. 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts Current quarter $A’000 Previous quarter $A’000 5.1 Bank balances 74,186 20,716 5.2 Call deposits - - 5.3 Bank overdrafts - - 5.4 Other (provide details) - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 74,186 20,716 6. Payments to related parties of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to related parties and their associates included in item 1 254 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. For personal use only
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 4 + See chapter 19 of the ASX Listing Rules for defined terms. 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities - - 7.2 Credit standby arrangements - - 7.3 Other (please specify) 5,466 5,466 7.4 Total financing facilities 5,466 5,466 7.5 Unused financing facilities available at quarter end - 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. Bank guarantee for letter of credits to DMIRS, $3,067.5k • Bank of China, • Fee 1% per annum of the face value of the bank guarantee, • No maturity date, • Secured by term deposits held at Bank of China. Bank guarantee for Electricity Networks Corporation, $568k • Bank of China, • Fee 1% per annum of the face value of the bank guarantee, • No maturity date, • Secured by term deposits held at Bank of China. Bank guarantee for Barminco Limited, $1,600k • Fee 2.25% per annum of the face value of the bank guarantee, • Expire 29 February 2028, • Secured by term deposit with NAB. Credit card facility $230k • Secured by term deposit with NAB. For personal use only
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 5 + See chapter 19 of the ASX Listing Rules for defined terms. 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) (24,702) 8.2 (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) (1,461) 8.3 Total relevant outgoings (item 8.1 + item 8.2) (26,163) 8.4 Cash and cash equivalents at quarter end (item 4.6) 74,186 8.5 Unused finance facilities available at quarter end (item 7.5) - 8.6 Total available funding (item 8.4 + item 8.5) 74,186 8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) 2.84 Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. 8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Answer: 8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? Answer: 8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? Answer: Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered. Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. 29 July 2025 Date: ................................................................................... Authorised by: Wanghong Yang, Executive Chairman (Name of body or officer authorising release – see note 4) For personal use only
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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report ASX Listing Rules Appendix 5B (17/07/20) Page 6 + See chapter 19 of the ASX Listing Rules for defined terms. Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter , how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. 2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, t he definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report. 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. 4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained , that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity , and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively. For personal use only