Andean Silver (ASL) H1 2026 earnings summary

Executive summary

• Principal activity focused on mineral exploration and evaluation at the Cerro Bayo Silver-Gold Project in Chile, with no significant changes in operations during the period.

• Released an updated Mineral Resource Estimate (MRE) for Cerro Bayo, increasing Indicated and Inferred resources to 136Moz AgEq, supporting transition to restart planning and feasibility work.

• Drilling and exploration activities targeted resource growth and conversion, with significant high-grade results across multiple deposits.

• All Australian projects were surrendered during the half-year, consolidating focus on Chile.

Financial highlights

• Cash and cash equivalents at 30 June 2026 were $42.7 million, down from $56.1 million at 31 December 2025.

• Consolidated loss after income tax for the six months ended 30 June 2026 was $11.6 million, compared to $9.6 million for the prior period.

• Key expenses included $2.4 million in share-based payments, $1.9 million impairment on VAT receivables, $1.3 million in employee benefits, and $1.0 million in care and maintenance.

• Total assets at 30 June 2026 were $98.6 million, compared to $103.8 million at 31 December 2025.

Outlook and guidance

• Strategy for the next 12 months is to accelerate the restart of Cerro Bayo, with funds from a recent institutional placement to be used for restart activities, resource upgrades, and exploration.

• Key priorities include resource infill and extension drilling, greenfield exploration, scoping and feasibility studies, and early works for restart.