Terramin reports half-year loss as projects advance

Terramin Australia Limited reported a consolidated loss of A$5.11 million for the half-year ended June 30, 2025, compared to A$4.17 million in the prior corresponding period. The net asset position decreased to -A$0.92 million from A$3.0 million at December 31, 2024, primarily due to increased short-term borrowings, accrued interest on loan facilities, and depreciation. The company's current liabilities exceeded current assets by A$48.4 million as of June 30, 2025.

The company continues to focus on its Tala Hamza Zinc Project in Algeria, where construction activities commenced in 2025 following the issue of a Mining Permit and a US$336 million Engineering, Procurement, and Construction (EPC) contract. In Australia, the Bird in Hand Gold Project faced a setback with a court dismissal of Terramin's application for judicial review, although an appeal is scheduled for November 2025.

Terramin’s strategic focus remains on exploration and development of base and precious metals, with ongoing activities in the South Gawler Project Joint Venture and the Kapunda Copper Joint Venture. The company has secured an extension of its unsecured Standby Term (No.2) Facility, the Bird in Hand Facility, and the Standby Short-term Facility to June 30, 2026.