Core Viewpoint - Entrée Resources Ltd. is providing an update on the transfer of mining licenses in Mongolia to its joint venture partner Oyu Tolgoi LLC, highlighting the importance of this transfer for ongoing development and state participation issues [1][2][3]. Transfer of JV Licenses - The transfer of the Shivee Tolgoi and Javkhlant mining licenses to OTLLC is critical for resuming development work, which has been paused since June 6, 2025, until the transfer is completed [4]. - In February 2025, License Transfer Agreements were executed to facilitate the transfer, and the parties have submitted necessary documentation to the Mongolian tax authority for tax assessment [5]. - The corporate income tax on the transfer is set at 10% of the license value, with specific deductions allowed, and the methodology for valuation is defined by a decree from December 31, 2019 [5]. - The Mongolian tax authority has not confirmed the calculations of the license values, which has delayed the transfer process [6]. State Participation - The Minerals Law of Mongolia allows for up to 34% state equity participation in strategic mineral deposits, which includes the Oyu Tolgoi group of deposits [8]. - The Government of Mongolia adopted Resolution No. 170 on April 9, 2025, establishing boundaries for strategic deposits, including the JV Licenses [9]. - The company is willing to fulfill obligations under Mongolian law to provide the state with 34% of the economic benefits derived from its interest in the JV [10]. - The company has been engaging with the Government of Mongolia to resolve state participation issues, especially following the appointment of a new Prime Minister and Cabinet in June 2025 [12]. Ongoing Engagement and Negotiations - A Temporary Oversight Committee was established by the Parliament of Mongolia to investigate the protection of national interests related to the Oyu Tolgoi Strategic Deposit [13]. - The Government of Mongolia has instructed relevant members to negotiate with foreign investors, including Entrée, to finalize agreements and proposals [14]. - The company is actively seeking to understand the engagement process and will provide updates as necessary [15].

Summary of Antipa Minerals Conference Call Company Overview - Antipa Minerals is focused on development and discovery opportunities in Western Australia’s Paterson Province [1] - The company has a market capitalization of approximately AUD 350 million and cash reserves of AUD 71 million [3][4] Key Financial Metrics - The enterprise value per resource ounce is AUD 110 million [4] - The company has seen a six-fold increase in value since the last Diggers and Dealers conference [4] - Price targets from analysts range from AUD 1 to AUD 1.5 [4] Mineral Resources and Projects - Antipa's land package covers over 4,100 square kilometers and hosts a substantial mineral resource of 3 million gold equivalent ounces [4] - The Paterson Province has seen discoveries of over 20 million ounces of gold and 3.4 million tons of copper in recent years [5] - The Minyari Dome project has a scoping study indicating the potential to mine 1.5 million ounces of gold at 1.5 grams per tonne, producing 130,000 ounces annually for the first ten years [6] Economic Viability - The NPV at a base case gold price of AUD 3,000 per ounce is AUD 834 million, with an IRR of 52% [6] - At AUD 4,000 per ounce, the post-tax NPV increases to AUD 1.2 billion with an IRR of 79% [6] - Annual free cash flow post-tax averages AUD 126 million at AUD 3,000 per ounce, increasing to AUD 214 million at AUD 4,000 per ounce, representing a 70% increase [7] Development Timeline - The pre-feasibility study is on track for completion in June, with plans to move into a definitive feasibility study and aim for a financial investment decision by 2027 [11] - First gold production is targeted for December 2028 [11] Exploration and Drilling Activities - A recent 13,000-meter growth-focused drilling program has identified significant resource extension potential [12] - The Minyari deposit has shown promising intersections, including 154 meters at 2.1 grams per tonne [13] - The GEO-one discovery, located 1.3 kilometers south of Minyari, currently hosts around 200,000 ounces of gold, with plans for further resource increases [14] Strategic Focus - Antipa is fully funded for its technical studies and resource growth drilling programs, with a total of 35,000 meters of growth and exploration drilling planned for this year [20] - The company aims to drill between 50,000 to 70,000 meters next calendar year based on success [20] - Antipa is positioned well within a province experiencing significant M&A activity and exploration interest [21] Conclusion - Antipa Minerals presents a compelling investment opportunity with a strong cash position, significant resource potential, and a clear development timeline in a region with increasing exploration activity [21]

Group 1 - Friedrich Global Research is focused on identifying high-quality companies for stock investment, emphasizing free cash flow, efficient capital allocation, and superior management performance [1] - The founder of Bern Factor LLC has extensive experience in investment analysis, with nearly 40 years in the field and a background as a CPA and CFA charter holder [2] - The founder's diverse career experience spans various sectors, providing a broad perspective on macroeconomics and detailed operational insights [2] Group 2 - The article mentions a potential special situation that could yield significant gains and income for investors, although the frequency of such situations cannot be predicted [2] - The analysis is based on objective observations of unique patterns derived from research, although it does not constitute investment advice [4]

Financial Data and Key Metrics Changes - Revenue for Q2 2025 was $4 billion, with consolidated new awards of $1.8 billion, 72% of which were reimbursable [6][7] - Total backlog remains around $28 billion, with 80% being reimbursable [8] - Adjusted EBITDA for Q2 was $96 million, down from $165 million a year ago, and adjusted EPS was $0.43 compared to $0.85 [27][36] Business Segment Data and Key Metrics Changes - Urban Solutions reported a profit of $29 million, impacted by a $54 million net cost growth on three infrastructure projects [8][14] - Energy Solutions segment profit was $15 million, down from $75 million a year ago, due to nearing project completions and an arbitration ruling [16][17] - Mission Solutions reported a segment profit of $35 million, down from $41 million a year ago, due to a temporary stop work order [20] Market Data and Key Metrics Changes - New awards for the quarter totaled $7.6 billion for 2025, with a book-to-burn ratio above one [7] - The company noted a slowdown in capital spending in the Mining and Metals sector due to global trade uncertainty [12] - The infrastructure segment experienced cost growth on three projects, with significant impacts from design errors and material escalation [14][91] Company Strategy and Development Direction - The company is focusing on markets such as mining, advanced manufacturing, data centers, and life sciences for future growth [46][48] - Management expressed optimism about the long-term opportunities in the LNG market, particularly with the recent achievements in LNG Canada [19][81] - The company plans to convert 15 million NuScale Class B shares into Class A, viewing it as a positive step for shareholder value [5][34] Management's Comments on Operating Environment and Future Outlook - Management noted a short-term hesitation in client investment decisions due to trade policy uncertainties and cost escalations [22][23] - The company expects that once trade agreements stabilize, clients will accelerate investments in various end markets [23][102] - Management remains confident in the long-term growth strategy despite current market hesitations [100][102] Other Important Information - The company reported a cash and marketable securities balance of $2.3 billion as of June 30, down from $2.5 billion at the end of Q1 [30] - Operating cash flow for the quarter was an outflow of $21 million, significantly lower than the cash generation of $282 million a year ago [31] - The company plans to slow share repurchases in 2025, expecting total repurchases to be between $450 million to $500 million [32] Q&A Session Summary Question: Insights on the bookings environment and backlog growth - Management acknowledged that trade policy impacts client sentiment and investment decisions, but they are pursuing work in the right markets [41][46] Question: Details on NuScale conversion and tax implications - The conversion of Class B shares to A shares will have a tax gain associated with it, which can be shielded through tax credits [50][51] Question: Clarification on backlog adjustments - The $1.7 billion in positive backlog adjustments relates to ongoing reimbursable work, primarily in the Urban Solutions segment [63][64] Question: Comments on infrastructure project performance - Management expressed disappointment with the results of three infrastructure projects but is committed to addressing the issues and completing them [91][92]

Financial Data and Key Metrics Changes - Revenue for Q2 2025 was $4 billion, with consolidated new awards of $1.8 billion, 72% of which were reimbursable [6][25] - Total backlog remains around $28 billion, with 80% being reimbursable [7] - Adjusted EBITDA for Q2 was $96 million, down from $165 million a year ago, and adjusted EPS was $0.43 compared to $0.85 [27][38] - Operating cash flow for the quarter was an outflow of $21 million, compared to cash generation of $282 million a year ago [31] Business Segment Data and Key Metrics Changes - Urban Solutions reported a profit of $29 million, impacted by a $54 million net cost growth on three infrastructure projects [8][14] - Energy Solutions segment profit was $15 million, down from $75 million a year ago, due to nearing project completions and an arbitration ruling [16] - Mission Solutions reported a segment profit of $35 million, down from $41 million a year ago, due to a temporary stop work order [21] Market Data and Key Metrics Changes - The company noted a slowdown in client investment decisions due to trade policy uncertainties and cost escalations [23][24] - There is strong demand in the mining sector, but immediate enthusiasm for major capital deployment is tempered by global trade uncertainty [12][24] Company Strategy and Development Direction - The company is focusing on markets such as mining, advanced manufacturing, data centers, and life sciences for future growth [48][49] - The strategic sale of NuScale shares is being pursued, with a conversion of 15 million shares expected to enhance capital return objectives [35][36] Management's Comments on Operating Environment and Future Outlook - Management indicated that client sentiment is cautious due to ongoing trade discussions and cost uncertainties, impacting long-term investment decisions [23][24] - The company expects that once trade agreements stabilize, clients will accelerate investments in various end markets [24][96] Other Important Information - The company achieved significant milestones on the LNG Canada project, including the shipment of the first LNG cargo [20] - The company is revising its 2025 adjusted EBITDA guidance to $475 million to $525 million, reflecting market hesitancy and project delays [38] Q&A Session Summary Question: Insights on bookings environment and backlog growth - Management acknowledged that trade policy impacts client sentiment and investment decisions, but they are pursuing work in the right markets [44][50] Question: NuScale conversion mechanics and future plans - The conversion of 15 million shares is expected to provide tax benefits and facilitate monetization without significant cash leakage [51][53] Question: Cash flow implications of LNGC change order - The JV structure means that cash flow will be realized when dividends are made, following the collection of funds related to the change order [105] Question: Infrastructure project performance and future outlook - Management expressed disappointment with recent project results but emphasized a commitment to addressing issues and learning from past experiences [85][88]

Rimfire Investor Briefing Webinar Summary Company Overview - **Company**: Rimfire - **Industry**: Critical minerals, specifically scandium - **Listing**: ASX listed resources company - **Location**: Lachlan origin and Broken Hill Districts, New South Wales, Australia Key Points and Arguments 1. **Capital Raise**: Rimfire recently announced a capital raise of $3,500,000 to fund exploration plans for its scandium projects in the Firefield District, which is recognized as Australia's scandium epicenter [2][4] 2. **Project Portfolio**: The company is focused on exploring and developing scandium deposits, with significant landholdings in Central New South Wales [4][33] 3. **High Scandium Grades**: Rimfire has identified high scandium grades in several prospects and aims to upgrade its scandium resource inventory by 2026 [5][6] 4. **Exploration Targets**: The company has three main exploration targets: - **Carajong**: Targeting a mineral resource estimate by September 2023 [6][27] - **Merga**: Aiming to convert the exploration target into a mineral resource estimate by Q1 2024 [7][27] - **Rabbit Trap**: A 100% owned project with potential for new scandium drill targets [29][31] 5. **Geological Advantage**: The Firefield area has a unique geological setting with ultramafic rocks that are conducive to scandium deposits, with over 74% of Australia's known scandium located in this region [17][18][20] 6. **Supply Constraints**: Scandium is currently supply constrained, with the US relying on imports from China and Russia, highlighting the strategic importance of developing a secure supply in Australia [14][16] 7. **Market Value**: The value of scandium is exceptionally high, with prices ranging from $134,000 to $500,000 per ton depending on processing methods [15] 8. **Collaboration with Other Companies**: Rimfire is one of four companies (including Rio Tinto, Sunrise Energy Metals, and Australian Mines) exploring the Firefield area, with some degree of collaboration among them [46][48] 9. **Government Support**: The New South Wales government is establishing a scandium working group to support the development of critical minerals in the Firefield area [49] Additional Important Content - **Joint Venture with Golden Plains Resources**: The arbitration with joint venture partner Golden Plains Resources has been resolved, allowing Rimfire to move forward with exploration programs [35][36] - **Potential for Gold and Silver**: Rimfire is also considering the economics of the suppressor deposit, which contains gold and silver, in light of rising gold prices [44][45] - **Future Plans**: The company is focused on building a globally significant scandium resource inventory and promoting the Central New South Wales area as a key source for scandium [34][51]

Industry Overview - The Pilbara iron ore region's future is uncertain, despite its historical contribution to Australian prosperity [1]

Core Viewpoint - Rio2 Limited is progressing well with its Fenix Gold Project in Chile, with construction 41% complete and on track for first gold production in January 2026 [1][3]. Construction Update - The project has recorded 1,270,141 person-hours worked with a Lost Time Incident Frequency Rate (LTIFR) of 0.79 and a Total Incident Frequency Rate (TIFR) of 6.30 as of June 30, 2025 [2]. - Total expenditure since October 2024 is $56.4 million against a budget of $57.8 million, excluding corporate overheads and pre-construction costs from 2022 [3]. - Key construction milestones include the installation of 12.7 hectares of geosynthetics at the leach pad and 4 hectares of overliner material, ready for mineral placement in August 2025 [4]. Infrastructure Development - Haul Road 1 is 90% complete, while Haul Road 4 is at 40% completion, both crucial for connecting the Fenix South pit to the leach pad [5]. - The ADR Plant's structural assembly is complete, with building cladding at 90% [5]. - The first of three electrical switch rooms is being transported to the project site [6]. Human Resources - The project currently employs 1,514 personnel, with 94% being Chilean and 41% from the Atacama Region; 10% of the workforce is female [6]. Exploration Activities - Grade control drilling activities are nearing completion, focusing on the pit areas for the first three years of production, with results expected by the end of September [7]. Upcoming Milestones - Key upcoming milestones include the start of mineral stacking on the leach pad and finalization of the PLS pond in August 2025, commissioning of the ADR Plant in November 2025, and the first gold pour in January 2026 [13]. Corporate News - Rio2 has received conditional approval to graduate from the TSX Venture Exchange to the Toronto Stock Exchange, with final approval pending [9]. - The company has published its 2024 ESG Report, highlighting its commitment to responsible mining practices [10]. Project Overview - The Fenix Gold Project is one of the largest undeveloped gold oxide heap leach projects in the Americas, with a Measured and Indicated mineral resource of 4.8 million ounces of gold [11]. - The project represents a significant investment of approximately $235 million, generating employment for at least 1,200 people during construction and 800 during operations [11].

Exhibit 99.1 Rio Tinto Group Unaudited Condensed Consolidated Interim Financial Report for the six months ended 30 June 2025 TABLE OF CONTENTS | Interim | results 2025 | 2 | | --- | --- | --- | | Market | update | 4 | | Financial | performance | 6 | | Shareholders | returns | 11 | | Review of | operations | 12 | | Capital | projects | 18 | | Future | growth options | 22 | | Directors' | report for the half year ended 30 June 2025 | 24 | | Unaudited | condensed consolidated interim financial statements | 26 ...

Financial Data and Key Metrics Changes - The company reported underlying EBITDA of CHF11.5 billion and operating cash flow of CHF6.9 billion, with a net operating cash flow decrease of just 2% despite lower iron ore prices [10][12][14] - Production volume increased by 6% and sales volume increased by 4% year on year, demonstrating resilience in financial performance [10][12] - Underlying earnings were down 16%, primarily due to a higher interest charge following the Arcadian acquisition and one-off increases in the effective tax rate [14] Business Line Data and Key Metrics Changes - Copper equivalent production was up 6% in the first half, with a 13% increase in the second quarter year on year, driven by strong performance at Oyu Tolgoi [6][10] - Bauxite production hit a new record with 9% growth, supported by consistent performance at the Amrun mine [7][10] - Iron ore generated CHF6.7 billion of EBITDA, with unit costs at $24.3 per tonne despite challenges from cyclones [23][10] Market Data and Key Metrics Changes - The company noted that iron ore prices were 13% lower, but this was offset by increased contributions from copper and aluminium divisions [14][16] - The Pilbara operations generated 58% of group EBITDA, down from 73% in the previous half, indicating a diversification in revenue sources [17][10] - The demand for copper and aluminium is rising due to the energy transition, while iron ore demand remains stable [33][34] Company Strategy and Development Direction - The company is focused on four strategic objectives to unlock business potential, emphasizing operational efficiency and project execution [6][11] - There is a strong emphasis on cost discipline and productivity improvements across all operations, with a commitment to maintaining a strong balance sheet [18][29] - The company is progressing with major projects like Simandou and Oyu Tolgoi, aiming for timely and budget-compliant execution [38][40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating global volatility and highlighted the importance of a diversified portfolio to capture new opportunities [11][33] - The energy transition is expected to drive demand for key commodities, with significant growth anticipated in lithium and copper markets [34][35] - The company is optimistic about its competitive position in the lithium market, citing low operational costs and advanced technology [89][90] Other Important Information - The company has maintained a commitment to shareholder returns, declaring a 50% payout for the interim dividend [31][29] - The integration of Arcadian is progressing well, with a focus on enhancing lithium production capabilities [39][90] - The company is actively managing its capital allocation, with a CapEx guidance of around $11 billion for 2025 [29][30] Q&A Session Summary Question: Update on Simandou's ramp-up and lessons learned - Management confirmed the first shipment of high-grade ore is expected in November, with a ramp-up period of 2.5 years to reach full production [51] - The company has learned valuable engineering lessons from its Chinese partners that could be applied to other projects [53] Question: Impact of copper tariffs on profitability - Management indicated that copper tariffs present an opportunity for increased profitability at Kennecott, the U.S.'s largest smelter [57] - The administration's focus on mining development is expected to benefit future projects, including Resolution Copper [59] Question: Iron ore business and revenue impacts from grade adjustments - Management noted that initial shipments under the new product specification have been well received, with a focus on long-term benefits from simplification [80] - The economic impact of grade adjustments is being closely monitored, with expectations of reduced costs in the long term [81] Question: Cost savings opportunities within the company - Management emphasized continuous improvement rather than cost-cutting, focusing on efficiency while growing production [93] - The company is committed to maintaining profitability across its major product groups [105] Question: Update on Genalco discussions - Management acknowledged ongoing discussions regarding share buybacks but did not provide a specific timeline for resolution [96]