The annual report of Locksley Resources Limited has been released for FY25, reporting steady progress in exploration and financing activities.
Loss from operations argued at $1,576,530, compared with $2,133,853 in the previous year. Revenue reported was $24,243, compared with $32,986 in 2024. Net assets were reported at the close of the year at $8,770,070 (2024: $8,456,020). Locksley closed the year with cash and equivalents of $2,258,052, indicating a good liquidity position for the near-term drill programs.
Although a loss was recorded, the narrowed deficit is indicative of better cost control. The strengthened balance sheet and additional financing completed subsequent to the end of the year point to the company keeping its funding momentum front and center.
Locksley’s Mojave Project Neighbours MP Materials’ Mountain Pass Mine
How Is The Mojave Rare Earth Elements Exploration Shaping Up?
The company’s flagship development remains the Mojave Critical Minerals Project in California. Locksley has worked on both antimony and rare earth element (REE) targets.
High-grade rock chip sampling at the Desert Antimony Mine gave results of up to 46% antimony (Sb) and 1,022 grams per tonne (g/t) silver (Ag). These results highlight the importance of supply within the critical minerals space.
At El Campo, Locksley received a Bureau of Land Management drilling permit for five holes targeting REE horizons. Previous sampling from the same prospect gave up to 12.1% total rare earth oxides (TREO) and 3.19% neodymium-praseodymium (NdPr). These elements are essential in the manufacture of permanent magnets for defence and renewable technologies.
The company’s focus on Mojave fits with global demand trends. The supply of REE continues to remain strategically important, especially for the United States, that is looking to reduce its dependence on Chinese supply chains.
Exploration Portfolio Shows Growth Potential
For Locksley, the Mojave Critical Minerals Project currently stands as the highest priority, with drilling approvals recently granted at El Campo. Antimony and REE grades from initial drilling returned spectacular results, indicating that the project is of strategic importance.
Locked in by Melbourne, Locksley Advances Tottenham Copper-Gold Project in New South Wales. The project hosts a JORC Inferred Resource of 9.86 million tonnes grading 0.72% copper and 0.22 g/t gold. A DHEM(downhole electromagnetic) survey detected strong off-hole conductors. These lie outside the present resource blocks of Orange Plains, indicating potential extensions.
Desert Antimony Mine and El Campo Drilling Plans
What Other Projects Support The Company’s Strategy?
Beyond Mojave, Locksley is developing momentum on Australian assets. The Tottenham Project remains a key copper-gold exploration target, with drilling programs continuing to generate encouraging geophysical results.
The companies also came out and stated that no breaches against environmental regulations were recorded in FY25. This fortifies the company’s licence to operate and aligns with an investor trend toward responsible exploration.
This has diversified Locksley’s portfolio across jurisdictions and reduced the risks in dealing with both the U.S. and Australia. This geographic spread is so useful in a time when resource nationalism and supply chain security are hot global issues.
Capital Raising And U.S. Listing Expand Funding Access
The company raised $1.47 million in June 2025 through a placement to fund its exploratory activities. The proceeds are being used for the Mojave exploration program.
In addition, the company was listed in the OTCQB Venture Market in the USA under the ticker LKYRF. This dual listing provides greater exposure to U.S. investors interested in critical minerals.
After year-end, additional placements were completed for $5,300,000 by Locksley. Such funds will enable the Company to complete drilling campaigns at Mojave and Tottenham. Strong liquidity must be maintained as exploration is very expensive in both Australia and the United States.
Geology and Mineral Potential of Tottenham District
Corporate Changes Reinforce Governance Framework
The company called Locksley had some significant changes in its Directorship throughout the year. Julian Woodcock was appointed Technical Director, and Bevan Tarrett came in as Non-Executive Director. Patrick Burke took over the position of Non-Executive Chairman as of 1 September 2025, while at the same time, Mr. Nathan Lude resigned from his board position.
These appointments bolster the company’s technical leadership and oversight in governance. The annual report confirms that Locksley remains compliant with environmental and corporate governance requirements.
Corporate stability and transparency remain of utmost importance for the attraction of institutional and retail investors. In an aggressive critical minerals industry, a sound leadership structure balances heavily along with exploration success.
Also Read: Australian Shares Hit Record High as Nvidia and Locksley Drive Market Optimism
FAQs
Q1: What are the important things highlighted in the Locksley Resources ASX LKY Annual Report 2025?
A: It puts a major emphasis on financial stability, work progress at Mojave, and stronger funding via placements and a U.S. listing.
Q2: How important is Mojave Rare Earth Elements exploration 2025 for Locksley?
A: It is the heart, with drilling approved at El Campo and high-grade antimony and REE samples already identified.
Q3: What influence does the program carry for the investor view?
A: It provides a benchmark, highlighting widening exploration momentum in the United States and refocusing investors on REE supply.
Q4: What steps were taken after year-end to fund the company?
A: Through additional placements, Locksley raised an extra $5.3 million to give liquidity for its upcoming drill campaigns.
