Energy Metals Reports $9.21M Cash and Rising Uranium Prices in June Quarter

Market Context and Strategic Positioning

Energy Metals Limited (ASX – EME) closed the June 2025 quarter with a solid financial footing and a clear strategic focus on advancing its uranium exploration assets. The uranium spot price climbed steadily throughout the quarter, reaching US$78.5 per pound, buoyed by geopolitical instability in the Middle East and growing global nuclear power ambitions. This price momentum underpins the company’s ongoing efforts to refresh its key project economics.

The company’s largest shareholder, China Uranium Development Company Limited, a subsidiary of China General Nuclear Power Group (CGN), provides Energy Metals with a unique strategic advantage. CGN’s extensive nuclear generation capacity and exclusive government authorization for uranium trade in China position Energy Metals to benefit directly from the expanding nuclear fuel market.

Project Activity Highlights

During the quarter, the Bigrlyi Joint Venture, Energy Metals’ flagship project in the Northern Territory, saw no significant operational activity beyond routine site security and drill site rehabilitation checks. However, the company initiated discussions with metallurgy and mining study providers to update the existing Pre-Feasibility Study (PFS), signaling intent to refine project development plans in line with current market conditions.

Elsewhere in the Ngalia Basin, preparatory field visits were conducted across the Ngalia Regional Project’s tenements to validate potential drill sites and access routes. These groundwork activities set the stage for planned drilling campaigns in the coming quarter, aiming to expand the company’s resource base and enhance project value.

In Western Australia, the Manyingee project remains in a holding pattern due to ongoing landholder objections and the state government’s uranium mining ban. Energy Metals continues to monitor regulatory developments, recognizing that any easing of restrictions could unlock significant value from these deposits.

Financial Position and Outlook

Energy Metals reported approximately $9.21 million in cash and bank deposits at quarter-end, supporting a low quarterly expenditure of $315,000 on exploration activities. The company’s cash runway extends over 22 quarters at current spending levels, providing ample flexibility to pursue strategic initiatives without immediate capital raising pressures.

Payments to related parties, including directors’ fees and consulting, totaled $64,000 during the quarter, reflecting standard corporate governance practices. The company’s disciplined cash management and strong backing by CGN position it well to capitalize on the anticipated uranium price rally forecasted for the remainder of 2025.