Antipa Minerals (AZY) Q1 2027 TU earnings summary

Executive summary

• Principal PFS technical workstreams completed; preferred development configuration selected for the 100%-owned Minyari Dome project. PFS release targeted for November 2026.

• CY2026 exploration expanded Tim’s Dome gold-copper ± lead ± silver mineralisation to ~2.2km of strike; Phase 1 drilling reported 314 holes totalling 37,225m.

• Dual-track programme advanced Minyari Dome development while testing resource extensions and regional discovery targets across the broader Minyari project.

Financial highlights

• Cash and cash equivalents were A$28.0m at 30 September 2026, compared with A$39.1m at 30 June; no debt.

• Exploration expenditure was A$11.5m for the quarter; net operating cash outflow was A$705k and net investing outflow was A$11.631m.

• Net financing cash inflow was A$1.204m, comprising A$1.216m from option exercises less A$12k in transaction costs.

Outlook and guidance

• Minyari Dome PFS completion and release expected in November 2026, incorporating the selected processing pathway, detailed mine schedule and updated capital, operating and economic modelling.

• Near-term work includes completing cost estimates and the integrated project financial model, alongside environmental, regulatory, heritage, commercial and financing activities.

• Outstanding RC and diamond assays, Tim’s Dome conductor drilling, and ranking of AL01 and Yolanda targets are planned to guide further exploration.