Astral Resources NL (AAR) H2 2026 earnings summary

Executive summary

• Transitioned from explorer to gold project developer, advancing Mandilla, Feysville, and Spargoville projects in Western Australia, with Mandilla DFS targeted for completion in Q1 2027.

• Completed $65 million equity capital raising and upgraded Mandilla Mineral Resource Estimate (MRE) to 54Mt at 1.1g/t Au for 1.74Moz contained gold.

• Progressed early production opportunity at Feysville via proposed JV; consolidated Ore Reserve Estimate (ORE) at 36.6Mt at 0.9g/t Au for 1.08Moz gold.

Financial highlights

• Net loss from operations attributable to owners was $2,341,765 for FY26, compared to a loss of $2,644,190 in FY25.

• Revenue from continuing operations was $1,861,938, up from $794,500 in the prior year.

• Cash and cash equivalents increased to $65.1 million at 30 June 2026, from $18.6 million at 30 June 2025.

• Net assets rose to $154.4 million at 30 June 2026, up from $87.4 million at 30 June 2025.

Outlook and guidance

• Mandilla DFS completion targeted for Q1 2027, with FID to follow.

• Early mining at Feysville's Think Big deposit expected to commence in March 2027, with haulage in June 2027.

• Ongoing exploration and resource growth programs across all projects, with Spargoville MRE update targeted for December 2026.