Amigo Resources (AMGO) Transition period summary

Executive summary

• Continued transition into African gold and rare-earth operations; Kabete and Mojimoto received licences, and pilot plants produced 1 kg of gold in June and 5 kg in July 2026.

• Commercial-scale plant equipment arrived at both sites after period end, with installation and commissioning planned for Q4 2026.

• Proposed acquisition of the Kamiesberg Mineral Sands Project would add ilmenite, zircon, rutile and monazite containing rare earth elements; completion remains conditional.

Financial highlights

• Revenue was US$70k for both the four and ten months ended 31 July 2026, all from initial Kabete gold sales; cost of sales was US$134k and gross loss US$64k.

• Loss was US$2.418m for the four months and US$4.532m for the ten months; operating losses were US$2.356m and US$4.480m, respectively.

• Administrative expenses were US$2.031m for the four months and US$3.376m for the ten months; the four-month figure included a non-cash US$269k share-based payment charge.

• Cash and cash equivalents were US$1.138m at 31 July 2026; receivables were US$1.941m, including US$1.014m of subscription proceeds received after period end.

Outlook and guidance

• Priorities include commissioning and ramping up commercial-scale plants at Kabete and Mojimoto, and pursuing long-form agreements with STAMICO subject to due diligence requirements.

• Planned work includes exploration to support potential JORC-compliant resource estimates, subject to successful outcomes; no resource or reserve has yet been defined.

• Kamiesberg completion is targeted by 31 January 2027, subject to shareholder and regulatory approvals, prospectus and re-admission requirements, and funding; the long-stop date is 31 March 2027.

• Commercial plant capital commitments contracted but not provided for were estimated at up to US$1.635m at 31 July 2026.