AusQuest (AQD) Q4 2026 TU earnings summary

Executive summary

• Stage 3 RC drilling at the Cangallo Copper-Gold Project in Peru defined a continuous mineralised corridor over 1,500m, confirming the large-scale porphyry system with broad copper-gold intercepts and higher grades in the southern area.

• Diamond drilling commenced late in the quarter at Cangallo, confirming substantial vertical extent of mineralisation; assays are pending.

• Reconnaissance RC drilling at Playa Kali (Peru) highlighted potential for widespread IOCG systems; significant copper and gold values were intersected.

• Australian projects (Balladonia, Coober Pedy, Morrisey, Mt Davis) advanced with drilling programs scheduled or in progress, all funded under the Strategic Alliance Agreement with South32.

Financial highlights

• Quarter-end cash position was approximately $6.4 million, including funds from South32 for Australian drilling programs.

• Net cash outflow from operating activities for the quarter was $285,000; investing activities outflow was $3.67 million, mainly for exploration.

• Financing activities provided a net inflow of $136,000 for the quarter.

• Estimated quarters of funding available is 1.3, with directors confident in securing additional funds if needed.

Outlook and guidance

• Stage 4 drill pad permitting at Cangallo is progressing, with final approval expected next quarter to enable further drilling of southern and eastern extensions.

• Diamond drilling at Cangallo will continue for several months, with assays expected about four weeks after each hole.

• Balladonia RC drilling is anticipated to commence in Q4 CY2026, pending government approvals.

• Coober Pedy diamond drilling is scheduled to re-commence in early August to test IOCG targets.