Lifezone Metals Limited

Lifezone Metals Limited reported revenue of $1.1 million for FY 2025, up significantly from $0.14 million in FY 2024, driven by technical and laboratory services from its Simulus business. Gross profit reached $0.52 million, yielding a 47.6% margin, compared to $0.05 million (38.1%) in 2024. However, operating loss widened to $18.4 million from $48.3 million, reflecting $19.1 million in general and administrative expenses, including $2.1 million in share-based payments. Net loss narrowed to $14.1 million from $47.1 million, aided by $15.6 million fair value gain on embedded derivatives and $0.5 million interest income, offset by $10.4 million interest expense. Total assets grew to $175.8 million, with exploration assets at $141.0 million, while equity stood at $72.8 million. Cash decreased to $20.1 million after $15.6 million operating outflow, $21.3 million investing, and $27.6 million financing inflow from bridge loan and share offering. Forward-looking, Kabanga Nickel Project advances toward FID in 2026, supported by $60M bridge facility; PGM recycling feasibility nears completion.

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