Alien Metals (UFO) H1 2026 earnings summary

Executive summary

• Completed sale of 70% interest in Munni Munni Project to GreenTech, retaining a 30% free-carried stake and receiving A$500,000 cash plus 47 million GreenTech shares.

• Advanced Elizabeth Hill Silver Project via JV with West Coast Silver, which announced a maiden JORC (2012) MRE of 2.79Moz silver at 617 g/t Ag; Alien holds 30% interest and 30.5 million WCE shares.

• Hancock Iron Ore Project remains core, with a JORC-compliant resource of 8.4Mt at 60% Fe and a maiden Ore Reserve of 1.9Mt at 60.2% Fe.

• Acquired 100% of Knox Resources (Georgina Basin IOCG Project) post-period, expanding Australian exploration portfolio.

Financial highlights

• Recorded a net loss of $12.5 million for H1 2026 (H1 2025: $0.7 million loss), mainly due to a $6.7 million non-cash impairment on Hancock and a $4.3 million fair value loss on listed investments.

• Cash balance at 30 June 2026 was $1.14 million (31 Dec 2025: $1.95 million).

• Basic and diluted loss per share was 0.1077 US cents (H1 2025: 0.009 US cents).

• Raised £210,202 from warrant exercises and extended Bennelong Capital funding facility.

Outlook and guidance

• Focused on disciplined capital allocation, advancing existing assets, and pursuing value-enhancing opportunities.

• Exploring strategic alternatives for Pilbara Iron Ore Portfolio, including potential sale; received a non-binding offer post-period.

• Additional funding required in the next 12 months; going concern basis adopted but subject to material uncertainty.