Astral Resources NL (AAR) Q4 2026 TU earnings summary

Executive summary

• Updated Mandilla Mineral Resource Estimate (MRE) to 54Mt at 1.0g/t Au for 1.74Moz contained gold, following significant RC and diamond drilling at Theia and other deposits.

• Progressed Mandilla Definitive Feasibility Study (DFS), with technical work, permitting, and heritage surveys ongoing; DFS completion targeted for Q1 2027.

• Entered a proposed joint venture for early mining at Feysville's Think Big deposit, targeting cash flow in June 2027 quarter.

• Acquired Mandilla Homestead for $850,000 to streamline project approvals and future operations.

Financial highlights

• Cash balance of approximately $65 million as at 30 June 2026, down from $73 million in the previous quarter.

• Quarterly cash outflows totaled $8.3 million, mainly for exploration (68%) and stamp duty ($1.7 million).

• Quarterly cash inflows were $0.5 million, primarily from bank interest.

• Estimated 10.86 quarters of funding available at current expenditure rates.

Outlook and guidance

• Mandilla DFS expected to complete in Q1 2027, with Final Investment Decision (FID) to follow.

• Early mining at Feysville's Think Big deposit anticipated to commence in H1 2027, pending JV finalisation and approvals.

• Ongoing drilling at Mandilla (Theia Deeps and in-fill) and planned drilling at Feysville and Spargoville, subject to heritage clearances.