26th Sep 2025 11:22
(Alliance News) - Future Metals NL on Friday reported a narrower annual loss as lower expenses and higher cash reserves offset a dip in income, while the company strengthened its balance sheet with new share issues.
The exploration company, focused on projects in Western Australia, said its pretax loss for the year ended June 30 narrowed to USD2.4 million from USD3.9 million the year before.
Revenue came mainly from other income of USD219,622, up sharply from USD49,673, while interest received fell to USD12,161 from USD28,720.
Employee and director costs nearly halved to USD333,295 from USD801,495, while exploration expenditure eased to USD1.3 million from USD1.5 million.
Future Metals ended the year with cash and cash equivalents of USD3.9 million, up from USD2.3 million a year before, following a USD3.9 million capital raise. Net assets grew to USD21.2 million from USD19.8 million.
Accumulated losses widened to USD25.9 million from USD23.4 million. Basic and diluted loss per share improved to 0.40 cents from 0.91 cents.
Shares in Future Metals were down 0.4% at 1.42 pence each in London on Friday morning.
By Eva Castanedo, Alliance News reporter
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