Geospace reports Q2 EPS (77c) vs. (32c) last year
Reports Q2 revenue $18.0M vs. $24.3M last year. Richard 'Rich' Kelley, President and CEO of the Company said, 'Like many companies, the second quarter provided volatility for our company. We had record performance in our Smart Water segment, with our Hydroconn(R) universal connectors continuing to outperform year over year. We are also experiencing increased interest in our Aquana product offerings. Offsetting that is the on-going uncertainty in the Energy Solutions segment. Global trade concerns, tariffs, and decreasing oil prices have impacted project decisions for our customers, resulting in delayed and canceled opportunities. Our Intelligent Industrial segment is negatively impacted by tariff concerns, especially for our EXILE products. Recognizing those external factors, we are working to optimize our supply chains to minimize the impact to our company and our customers. We are well-positioned to exploit the tremendous potential we have created with our innovative IoT technologies, our talented staff and our continuing diversification into new high-margin markets in the Smart Water and Intelligent Industrial markets. Points specifically fueling optimism for future periods include Hydroconn universal connectors achieving their highest first six-months revenue ever and continuing growth, a recently announced Mariner contract with interest in possible future requirements, and the on-going PRM studies, which reinforces the market's interest in our technology. Additionally, our current backlog places us in a strong position going into the second half of the year. Importantly, the longstanding strength of our balance sheet with no debt and $19.8 million in cash and short-term investments establishes our conservative approach to managing the business. Executive leadership continues to address workforce costs and development expenses on our path to sustained profitability. Beyond our traditional conservative fiscal management in our profitability plan, we continue to pursue growth through acquisition with immediately accretive additions to topline revenue. Overall, I have continued optimism that our company is well positioned to perform in our newer markets.'
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The pulp will be analyzed by ALS Metallurgical Laboratory in Perth Western Australia and the results will be published when they become available. Further updated historical assay results are expected soon. The first stage of the priority resource drilling program will target the Fjord Deposit containing the 23MT MRE footprint by extending drilling further to the north and east of the 16-diamond hole program from 2024. The average target depth will be 60m – 80m drilling through the mineralized kakortokite bearing REE and metal oxides and 5m into the basal unit sanitizing mineralisation from the uneconomic grade 'Black Madonna' unit. Critical Metals Corp will commence its 2025 drilling campaign following satisfactory drill results from the 2024 program with the remaining 15 holes assay. The Company expects to announce the results from the 2024 campaign shortly. . 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Mr Greg Barnes (Tanbreez Mining Greenland A/S), & Mr George Karageorge Company Chief Technical Officer. Highlights – Recently Released Diamond Drill Hole Results Today's announcement reports assay results confirming deep and highly mineralized TREO for each drill hole ranging from 0.33% to 0.51% with a weighted average of 0.43% TREO containing 28% HREO hosted within the vast Kakortokite rock and over the Fjord Deposit for the eudialyte component MRE of 22.6MT 0.43% TREO including 26% HREO (See Table 1).Table 1 - Recent Drill Hole Results (announced 18 March 2025, 28 March 2025, 12 May 2025 and 9 June 2025) – holes DDH-07-06 to DDH-07-10 were drilled from the same collar location BDL = Below Detection Limit NA = Not Assayed New Drill Hole Results Locations within the Fjord Deposit Area Today's announcement publishes new results for drill holes drilled through the Fjord deposit and extended below the Mineral Resource Estimate (MRE) for the Fjord deposit (see Nasdaq Press Release 13 March and 29 May 2025). The MRE assessed the eudialyte component of the kakortokite limited to the material above sea level. The deeper drill holes identified rare earth mineralisation at similar grades within the kakortokite unit below and within the MRE. Hole ID Easting Northing Elevation Dip Azimuth Total Depth DDH-07-06 452770 6748174 62 -45 232 99 DDH-07-07 452770 6748174 62 -60 232 111 DDH-07-08 452770 6748174 62 -45 322 171 DDH-07-09 452770 6748174 62 -45 52 168 DDH-07-10 452770 6748174 62 -45 142 150 DDH-07-11 452810 6748417 25 -80 160 249 DDH-07-12 452899 6748332 77 -90 0 78 DDH-07-13 453160 6747889 326 -45 200 85.2 DDH-07-14 453160 6747889 326 -60 290 243 DDH 13-011 452789 6748314 41 -90 -90 62 DDH 13-016 452840 6748225 64 -90 -90 68 Table 2 – New drill hole locations These drill holes drilled through the Fjord deposit and extended below the Mineral Resource Estimate for the Fjord deposit (see Nasdaq Press Release 17 March, 31 March and 19 May 2025). The MRE assessed the eudialyte component of the kakortokite limited to the material above sea level. The deeper drill holes identified rare earth mineralisation at similar grades within the kakortokite unit below the MRE. Deep Drill Hole Results The new deep hole results announced today present a compelling opportunity for the Company to increase the existing MRE over the Tanbreez Fjord Deposit with infill and extension drilling between all historical diamond and RC drill holes (see Nasdaq Press Release 17 March, 31 March and 19 May 2025). The MRE assessed the eudialyte component of the kakortokite limited to the material ). DDH-007-06, DDH-007-07, DDH-007-08, DDH-007-09, DDH-007-010, were drilled from the same location as a fan of holes into the kakortokite above sea level (except DDH-007-08 and DDH-007-10). DDH-007-12 was drilled between the fan of holes and the fjord coastline down to sea level and DDH-007-11 drilled to 21m below sea level. These holes were included in the MRE. DDH-007-08 and DDH-007-011 drilled below sea level. These holes confirmed the extension of the TREO mineralisation below the MRE. DDH-007-013 and DDH-007-14 were collared 264 metres above the fan of holes and confirmed extensions to the TREO mineralisation to the south of the MRE. DDH-13-011, DDH-13-016 were drilled between the fan of holes and DDH-007-11 and 12. Drill hole intervals were assayed for a full suite of rare earth oxides plus zirconium oxide, tantalum oxide, and niobium oxide (See table 3 and figures 4, 5, and 6)Figure 2 - Drillhole collar positions for the new deep diamond holes in the Fjord Deposit area with the average assay results from surface. The Fjord rare-earth deposit is contained within a mineralized Kakortokite host unit covering an area of approximately 5km x 2.5km and several hundred metres thick and estimated at 4.7 billion tonnes. two areas have been delineated at Fjord and Hill and subject to detailed exploration and resource estimation. The host unit has not been fully explored, and the estimate of the mass of the kakortokite host unit does not presume any certainty of hosting economic mineralisation in other areas. The MRE drilling examined the drill intersections from surface to sea level (0m RL) and prepared a mineral resource estimate based on the TREO and zirconium and niobium oxides within the kakortokite including eudialyte, feldspar and arfvedsonite components. Drill holes DDH-007-08, DDH-007-09, DDH-007-12, DDH-007-14, DDH-13-011and DDH 13-016 were terminated in kakortokite containing greater than 3000ppm TREO mineralisation at the bottom of the respective drillholes (see figure 2).Table 3 - Assayed intersections in the 2007 and 2013 drilling announced 3 - Deep drilling extending below the Fjord Mineral Resource Estimate with section lines Figure 4 - Deep drilling extending below the Fjord Mineral Resource Estimate – Section FFigure 5 - Deep drilling extending below the Fjord Mineral Resource Estimate – Section CFigure 6 - Cross section on Fjord Section A The Mineral Resource Estimate for Tanbreez at the Fjord and Hill Deposits The Company recently announced its MRE for the Tanbreez Project of 45MT Eudialyte containing 0.38% TREO including 27% contained HREO plus rare metal oxides (see Nasdaq Press Release 17 March, 31 March and 19 May 2025) and Table 2,3 and Figure 4). The MRE are classified as Indicated and Inferred Resources under the JORC Code 2012 and have been determined by drill density and number of drillholes, and samples utilized in grade estimation. A recent Addendum to the Eudialyte component added information on the by-products, 134 million tonnes of Feldspar and 134 million tonnes of Arfvedsonite. Eudialyte concentrate will be prepared in Greenland and exported to the USA or Europe for further processing. Feldspar and Arfvedsonite from the Tanbreez deposit will be processed in Greenland to form a concentrate for industrial applications and further processing will be required to meet off- take standards. TANBREEZ PROJECT Million TREO ZrO2 Nb2O5 Tonnes % % % TANBREEZ HILL Eudialyte Indicated Resource Upper 3.20 0.47% 1.72% 0.14% Lower 13.46 0.30% 1.11% 0.11% Total 16.66 0.33% 1.22% 0.12% Inferred Resource Upper 0.93 0.40% 1.48% 0.13% Lower 4.72 0.28% 1.04% 0.10% Total 5.65 0.30% 1.11% 0.11% FJORD DEPOSIT Eudialyte Indicated Resource 8.76 0.44% 1.63% 0.17% Inferred Resource 13.80 0.42% 1.55% 0.16% Total 22.56 0.43% 1.58% 0.16% Eudialyte Total Indicated Resource 25.42 0.37% 1.37% 0.13% Inferred Resource 19.45 0.39% 1.42% 0.15% Total 44.87 0.38% 1.39% 0.14% Table 3 MRE eudialyte component TANBREEZ PROJECT Industrial Mineral Components TANBREEZ HILL Feldspar Indicated Resource 33.00 Mtonnes Inferred Resource 11.00 Mtonnes Arfvedsonite Indicated Resource 33.00 Mtonnes Inferred Resource 11.00 Mtonnes FJORD DEPOSIT Feldspar Indicated Resource 18.00 Mtonnes Inferred Resource 28.00 Mtonnes Arfvedsonite Indicated Resource 18.00 Mtonnes Inferred Resource 28.00 Mtonnes Table 4 MRE details for feldspar and arfvedsonite The Company confirms that it is not aware of any new information or data that materially affects the information included in the Company's previous estimation of the feldspar and arfvedsonite resources in this announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially 7 - Location of drilling in relation to the mineral resource estimate for indicated, inferred drill hole results and outcrop kakortokite at 8 - The Tanbreez Fjord and the Tanbreez Hill rare-earth mineral sites are hosted within a Kakortokite unit covering an area of approximately 5km x 2.5km, estimated at 4.7 billion tonnes of Kakortokite this does not indicate any certainty of hosting mineralisation About Critical Metals Corp Critical Metals Corp (Nasdaq: CRML) is a leading mining development company focused on critical metals and minerals, and producing strategic products essential to electrification and next generation technologies for Europe and its western world partners. Its flagship Project, Tanbreez, is one of the world's largest rare earth deposits and is located in Southern Greenland. The deposit is expected to have access to key transportation outlets as the area features year-round direct shipping access via deep water fjords that lead directly to the North Atlantic Ocean. Another key asset is the Wolfsberg Lithium Project located in Carinthia, 270 km south of Vienna, Austria. The Wolfsberg Lithium Project is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure and is expected to be the next major producer of key lithium products to support the European market. Wolfsberg is well positioned with offtake and downstream partners to become a unique and valuable asset in an expanding geostrategic critical metals portfolio. With this strategic asset portfolio, Critical Metals Corp is positioned to become a reliable and sustainable supplier of critical minerals essential for defense applications, clean energy transition, and next-generation technologies in the western world. For more information, please visit Cautionary Note Regarding Forward Looking Statements This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'). Forward-looking statements include, without limitation, statements regarding the net present value, economic viability and prospects of the Tanbreez Project, the expected rare earth metal supply located and recoverable in the Tanbreez Project, the timing and completion of additional studies and operations related to the Tanbreez Project, as well as financial position, financial performance, business strategy, expectations of our business and the plans and objectives of management for future operations. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this news release, forward-looking statements may be identified by the use of words such as 'estimate,' 'plan,' 'project,' 'forecast,' 'intend,' 'will,' 'expect,' 'anticipate,' 'believe,' 'seek,' 'target,' 'designed to' or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements for many reasons, including the factors discussed under the 'Risk Factors' section in the Company's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. These forward-looking statements are based on information available as of the date of this news release, and expectations, forecasts and assumptions as of that date, involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Critical Metals Corp. Investor Relations: ir@ pr@ Photos accompanying this announcement are available at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
