Waratah Minerals
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Waratah Minerals (WTM) investor relations material

Waratah Minerals Q4 2025 TU earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 TU earnings summary26 Jan, 2026

Executive summary

  • Aggressive 80,000m drilling program underway at the Spur gold project, targeting both shallow and deep high-grade mineralisation with seven rigs active on site.

  • Significant high-grade gold intercepts reported at both Spur and Consols Zones, expanding known mineralisation and identifying new high-grade zones.

  • Board restructure and technical team expansion implemented to support increased operational activity and transition toward development.

Financial highlights

  • Cash and listed investments totaled $28.6 million as of 31 December 2025.

  • $3.7 million spent on exploration and evaluation during the quarter.

  • Second tranche of a $30 million placement completed, raising approximately $18.3 million for drilling and project development.

Outlook and guidance

  • 2026 drilling program aims to expand gold mineralisation with a focus on both shallow and deep targets at Spur and Consols Zones.

  • Strategy in place to rapidly define system scale and unlock commercial value for shareholders.

Consols Zone: How will 40,000m drilling unlock value?
Spur's porphyry potential vs Cadia Valley?
What's the timeline for Spur development?
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Frequently asked questions

Waratah Minerals Limited is a mineral exploration company focused on the discovery and development of critical minerals and base metals. The company explores prospective regions for resources such as copper, gold, and rare earth elements, utilizing modern geological techniques including geophysical surveys and drilling programs. The company is headquartered in Australia, and its shares are listed on the ASX.

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