Texas Mineral Resources Corp. Reports Net Loss of $245,787 and Increased Total Assets

Texas Mineral Resources Corp. reported its financial results for the three months ending November 30, 2025, revealing a net loss of $245,787, compared to a net loss of $229,097 for the same period in 2024. The company did not generate any operating revenue during this quarter, maintaining its status as an exploration-stage company. Total operating expenses increased to $251,498 from $232,744 year-over-year, primarily driven by higher general and administrative costs, which rose to $246,511 from $211,009. Exploration costs significantly decreased to $4,987 from $21,735, reflecting a shift in focus away from active exploration activities.

In terms of financial position, Texas Mineral Resources reported total assets of $1,679,286 as of November 30, 2025, a substantial increase from $1,161,182 at the end of the previous fiscal period. This growth was largely attributed to an increase in cash and cash equivalents, which rose to $1,102,715 from $590,350. Shareholders' equity also saw a notable increase, reaching $1,506,995 compared to $1,035,782 in the prior period, primarily due to the issuance of common stock and the exercise of warrants, which generated $630,000 in cash.

The company’s operational developments included a dilution of its membership interest in the Round Top Project, which decreased from 18.779% to 18.673% due to its decision not to fund its portion of a cash call totaling $2,683,777. This trend continued into December 2025, where the company again chose not to fund its cash call obligations, further reducing its interest to 18.641%. The total estimated budget for the Round Top Project for the 2026 calendar year is approximately $8,225,000, which will be funded pro-rata by Texas Mineral Resources and its partner, USA Rare Earth LLC.

Looking ahead, the company faces significant challenges regarding its ability to continue as a going concern. Management indicated that it does not have sufficient capital to fund its share of the Round Top budget and anticipates further dilution of its membership interest unless it can secure additional financing. The company has expressed the need to raise capital to meet its obligations and continue operations, with no firm commitments for future financing currently in place. The outlook remains uncertain, as the company projects continued losses and emphasizes the necessity of securing funding to avoid curtailing operations.