Northern Minerals Ends June Quarter with $24.3M Cash After $42.4M Equity Raise

Quarterly Cash Flow Overview

Northern Minerals Limited has released its cash flow report for the quarter ended 30 June 2025, revealing a net cash outflow of AUD 5.1 million from operating activities. This outflow reflects ongoing expenditures primarily related to exploration, evaluation, site maintenance, and corporate costs. Despite the operational cash burn, the company’s liquidity position remains robust, supported by a significant capital injection during the quarter.

Capital Raise Strengthens Balance Sheet

The standout feature of the quarter was Northern Minerals’ successful equity raise, which generated AUD 42.4 million in net financing cash inflows. This capital was raised through the issuance of new shares, including convertible securities issued to Iluka, a strategic partner. The equity raise has substantially bolstered the company’s cash reserves, which stood at AUD 24.3 million at quarter’s end, providing a solid buffer to fund ongoing exploration and development activities.

Financing Facilities and Related Party Payments

The company also reported a fully drawn AUD 15 million financing facility, which complements its cash holdings and provides additional financial flexibility. Payments to related parties amounted to AUD 415,000 during the quarter, primarily covering director fees and legal services. Northern Minerals confirmed these transactions were conducted on commercial terms and in accordance with governance standards.

Operational Outlook and Compliance

While the report does not provide explicit guidance on production or operational changes, the company’s cash flow and financing activities suggest a focus on sustaining exploration momentum and preparing for future development phases. The filing confirms compliance with Australian accounting standards and ASX listing rules, underscoring Northern Minerals’ commitment to transparency and regulatory adherence.

Strategic Implications

The infusion of capital through equity issuance positions Northern Minerals to navigate the challenges of exploration funding and potential market volatility. However, the ongoing operating cash outflow highlights the importance of continued capital management and operational efficiency as the company advances its rare earths projects.