Resolution Minerals widens annual loss to $53.32 million

What happened

Resolution Minerals Ltd (NASDAQ: RML) filed its annual report for the year ended 30 June 2026. It reported a net loss of $53.32 million. Net cash outflow from operating and investing activities was $28.31 million. Exploration and evaluation assets were $74.35 million at 30 June 2026. Trading in the company's American depositary shares began on the Nasdaq Capital Market on 9 September 2026 (U.S. time).

Key numbers

Metric	Latest	Change	Source
Net loss	$53.32 million	from $6.03 million, +$47.28 million	Calculated from SEC 6-K annual report
Net cash outflow from operating and investing activities	$28.31 million		SEC 6-K annual report
Exploration and evaluation assets	$74.35 million		SEC 6-K annual report

Read more: Resolution Minerals (RML) stock analysis and investment case

Why it matters

The loss widened by $47.28 million from $6.03 million in 2025. The filing says the increase was mainly due to more activity at the Horse Heaven Project in Idaho, USA. Resolution said it completed the Horse Heaven acquisition in July 2025 and started Phase 1 drilling in August 2025 and Phase 2 drilling in May 2026.

It acquired the Johnson Creek processing site and historical tungsten stockpiles in March 2026. The report also says Resolution secured A$25.1 million in September 2025 and A$20 million in April 2026 to fund the work.

The company said its Horse Heaven land position grew by about 600 acres and now covers about 59km2. It also said Antimony Ridge and Golden Gate received FAST-41 Transparency Coverage from the U.S. Federal Permitting Council. At Antimony Ridge, rock chip assays returned up to 49.8% Sb, 1.420g/t Ag and 4.43g/t Au. Soil sampling outlined an about 1,000m by 700m anomaly.

The company also said it produced an intermediate antimony trioxide product grading 99.38 wt% Sb2O3 and tungsten concentrates grading up to 52.3% WO3 with recoveries of up to 75.5%. Initial gold test work returned recoveries of up to 95.5% from oxide material and up to 88.7% from sulphide material. The report says exploration targets are conceptual and that there has been insufficient exploration to define a Mineral Resource.

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What's next

Future filings will show whether Horse Heaven drilling, permitting and metallurgical work keep moving toward a maiden Mineral Resource Estimate.

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