Lifezone Metals Limited’s (NYSE: LZM) shares declined in the first hour Thursday, after its Chief Executive Officer, Chris Showalter and Chief Financial Officer, Ingo Hofmaier, announced the full-year 2025 financial results.
Hofmaier commented: “Throughout 2025, we continued to advance the high-grade Kabanga Nickel Project, amid a challenging nickel market, which included the filing of a Feasibility Study with strong economics, raising $60 million from Taurus Mining Finance and $15 million in equity from U.S. investors, demonstrating the quality, scale, and long-term potential of the Kabanga Nickel Project. Our financial discipline has maintained a strong financial position as we progress the project towards key milestones. We ended the year with a cash balance of around $20 million and undrawn funds from Taurus Mining Finance of $40 million.
For the year ending December 31, 2025, Lifezone reported a basic and diluted loss per share of $0.17, based on a net loss of $13.6 million attributable to Lifezone shareholders and 79.9 million weighted average ordinary shares outstanding. This compares to a basic and diluted loss per share of $0.59 in 2024.
On November 12, 2025, Lifezone closed a $15 million underwritten registered direct offering 4,411,764 ordinary shares and warrants to purchase up to 4,411,764 ordinary shares.
Lifezone Metals reported a cash balance of $20.1 million as of December 31, 2025, compared to $29.3 million as of December 31, 2024.
LZN shares dipped 12 cents, or 3.1%, to $3.76.
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