Native Mineral Resources Holdings Limited: 2025 Q3 Performance and Corporate Developments

Native Mineral Resources Holdings Limited (ASX: NMR) reported a robust operational turnaround in the September 2025 quarter, driven by a successful series of gold pours and a strategic focus on capital expenditure that positions the company for continued exploration growth.

Financial Highlights

  • Revenue: A$4,005,572 was generated from the delivery of 696.4 oz of refined gold, following four gold pours conducted during the quarter.
  • EBITDA: The company posted positive EBITDA of A$29,235 for September 2025, a significant improvement over prior periods.
  • Cash Flow from Operating Activities: Net cash inflow of A$4,005 k in the quarter, with cash outflows largely attributable to exploration and evaluation costs (A$453 k), development spending (A$72 k), production-related cash outflows (A$2,876 k), staff costs (A$1,865 k), and administration and corporate costs (A$1,898 k).
  • Non‑Operating Cash Outflows: Expenditure on plant refurbishment, tailings storage facility (TSF) upgrades, strategic machinery acquisitions—including cranes, site vehicles, and tools—constituted the majority of non‑operating cash outflows.

These figures illustrate NMR’s transition from a purely exploration‑focused entity to a company capable of generating tangible cash returns while investing in infrastructure that underpins long‑term production potential.

Corporate Governance

On 16 October 2025, NMR’s board approved a comprehensive corporate governance statement, available on the company’s website (https://nmresources.com.au/corporate-governance/) . The statement confirms compliance with ASX Listing Rules Appendix 4G, detailing the board’s composition, independent non‑executive chair James Walker, managing director and CEO Blake Cannavo, and independent non‑executive director Philip Gardner. The company’s auditors, HLB Mann Judd Assurance (NSW) Pty Ltd, and share registry, Automic Group, are also noted in the annual report.

Shareholder Communications

  • Annual Report 2025: Published on 16 October 2025, the report outlines the company’s financial results, strategic initiatives, and governance framework.
  • Annual General Meeting (AGM): The AGM is scheduled for 2:00 pm AEDT on Friday 28 November 2025, with director nomination submissions closing on 22 October 2025. This meeting will provide shareholders with an opportunity to review the company’s progress and vote on key resolutions.

Market Context

Despite a 52‑week high of A$0.23 on 17 June 2025 and a low of A$0.029 on 9 December 2024, NMR’s share price closed at A$0.115 on 13 October 2025. The company’s price‑earnings ratio remains negative at –6.91, reflecting its exploration‑stage status and the substantial capital commitments required to bring its Queensland and Western Australian deposits into production.

Outlook

With a proven ability to generate cash from gold production, combined with strategic investment in exploration and development assets, Native Mineral Resources Holdings Limited is positioning itself to capitalize on the growing demand for copper and gold. The forthcoming AGM will be a key venue for stakeholders to assess the company’s trajectory and the execution of its long‑term value creation strategy.