Chalice Mining narrows loss, advances Gonneville project

Chalice Mining Limited reported a pre-tax loss of A$22.3 million for the year ended June 30, 2025, a significant improvement from the A$44.6 million loss in 2024. This reduction is primarily due to a A$21.5 million decrease in exploration and evaluation expenditure, which fell to A$21.0 million in 2025 from A$42.5 million in 2024. Cash and cash equivalents stood at A$70.8 million at year-end, down from A$88.9 million in 2024, but the company remains well-funded through to a final investment decision for Gonneville in H1 FY28.

The Gonneville Palladium-Nickel-Copper Project in Western Australia is progressing, with a simplified process flowsheet and metallurgical breakthrough for nickel flotation. This eliminates the need for a complex hydrometallurgical process, reducing technical risk and capital and operating costs. The project, approved as a Strategic Project by the WA Government and awarded Major Project Status by the Commonwealth Government, is targeting pre-feasibility study completion in Q2 FY26.

Chalice Mining also reported zero lost-time injuries, fatalities, or high-potential safety events, and zero significant environmental incidents in FY25. The company's total direct GHG emissions for FY25 amounted to 983 tCO2-e, a 58% reduction from FY24, mainly due to decreased exploration activities.