Africa Resources (AFRI) Q2 2026 earnings summary

Executive summary

• Operations halted during Q2 2026 due to a pump motor failure, resulting in no diamond production for the quarter.

• Production resumed in early August after a replacement motor was installed.

• A rights issue provided approximately 2.5 MSEK in cash and reduced debt by about 5.4 MSEK, strengthening the financial position.

• Acquisition of Holmasjön Prospektering AB expanded activities into Swedish mineral rights.

Financial highlights

• Q2 2026 revenue was 9 TSEK, down from 692 TSEK in Q2 2025 due to halted production.

• Net loss after tax for Q2 2026 was -535 TSEK, compared to -345 TSEK in Q2 2025.

• Cash and cash equivalents at June 30, 2026, were 1,384 TSEK, up from 35 TSEK a year earlier.

• Total assets at quarter-end were 33,539 TSEK, up from 10,732 TSEK at Q2 2025.

• Equity at June 30, 2026, was 32,619 TSEK, up from 4,330 TSEK at Q2 2025.

Outlook and guidance

• Near-term focus is on stabilizing operations and monitoring production output after resuming extraction.

• The board continues to evaluate the best way to develop value from Swedish mineral rights with limited capital commitment.