Alara Resources (AUQ) Q1 2026 TU earnings summary

Executive summary

• Major production boost at Al Wash-hi Majaza mine with copper concentrate up from 7,837 WMT to 8,603 WMT quarter-over-quarter.

• Two new tailings filter presses commissioned, increasing plant efficiency and daily output by 77% in August 2025 compared to previous months.

• Five copper-gold concentrate shipments dispatched, totaling 1,515.5 MT copper and 11.89 kg gold for the quarter.

• Daris 3A5 mining license awarded, expanding resource base.

• Drilling commenced at Al Mansur Prospect in Block 8.

• New Chairman appointed, reinforcing leadership.

Financial highlights

• Receipts from customers for the quarter totaled A$13.92 million.

• Net cash used in operating activities was A$4.34 million.

• Expenditure on mining production and development activities, including exploration, was A$13.27 million.

• Cash and cash equivalents at quarter end were A$7.79 million.

• Private placement raised A$3.4 million, used to repay part of the Trafigura finance facility.

Outlook and guidance

• Continued copper-gold concentrate production at Al Wash-hi Majaza expected.

• Interim drilling results and updated mineral resource estimate for Al Wash-hi Majaza anticipated next quarter.

• Ongoing exploration at Block 22B and Block 8, with greenfield and brownfield programs advancing.

• Preparation for a rights issue to fund proportional share of AHRL expenses and working capital.