Andean Silver (ASL) Q3 2026 TU earnings summary

Executive summary

• Cerro Bayo advanced resource growth and restart studies in parallel; drilling fleet expanded to six rigs, with activity spanning infill, resource conversion and district exploration.

• Juanita emerged as a 2km silver-gold breccia trend outside the current 136Moz AgEq resource, while a A$40m placement funded drilling, studies and early restart work.

Financial highlights

• Cash and cash equivalents were A$70.476m at 30 September 2026, versus A$42.704m at 30 June 2026.

• Quarterly net cash used in operating activities was A$3.156m and investing activities used A$6.784m; financing activities provided A$37.849m.

• The A$40m placement was completed before costs through 16,326,531 shares issued at A$2.45 each; related transaction costs were A$2.151m.

Outlook and guidance

• Resource update and Scoping Study targeted for early CY27; Feasibility Study and maiden Ore Reserve targeted by end CY27.

• CY27 restart works planned to include mill refurbishment, underground dewatering and infrastructure upgrades; exploration, resource conversion, permitting and technical studies will continue in parallel.