Alara Resources (AUQ) Q3 2025 TU earnings summary

Executive summary

• 16 copper-gold concentrate shipments totaling 3,061 MT copper and 78.6 kg gold dispatched since operations began at Al Wash-hi Majaza plant.

• Interim replacement filter presses arrived, with commissioning scheduled for late June 2025 to address production bottlenecks.

• Promising exploration and gravity survey results at Block 8, with a high-priority anomaly (H1) identified for further drilling.

• Royal Decree issued for Block 22B Concession in March, enabling new exploration planning.

• Rights issue discontinued due to regulatory proceedings, impacting capital allocation for equipment orders.

Financial highlights

• $15.46 million in receipts from customers for the quarter, $35.20 million year-to-date.

• $11.63 million spent on mining production and development activities during the quarter.

• Net cash used in operating activities was $2.90 million for the quarter, with $2.71 million net cash from operations year-to-date.

• Cash and cash equivalents at quarter end were $11.47 million.

• Aggregate payments to related parties totaled $151,000 for directors’ remuneration.

Outlook and guidance

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

• Installation and commissioning of new tailings filter presses targeted for completion by end of June 2025.

• Interim drilling results for Al Wash-hi mining licence expansion and infill program anticipated.

• Exploration to commence at Block 22B and progress at Block 8, with updates expected.

• Grant of mining license over Daris 3A5 prospect expected during 2025.