Austin Metals (AYT) Q1 2026 earnings summary

Executive summary

• Entered binding agreement to sell Broken Hill tenement package for $400,000 ($200,000 cash and $200,000 in Kingfisher Mining shares), with settlement expected in December 2025 quarter.

• Focus shifted to core Western Australian gold assets, retaining upside via equity in Kingfisher Mining.

• Significant shallow gold intercepts reported at Mt Sandy prospect, extending mineralisation strike to ~1km, open in all directions.

• Maiden RC drilling at Ashburton Project defined a 900m Cu-Au system, open in all directions.

Financial highlights

• $454,000 spent on exploration and evaluation activities during the quarter; no mining development or production activities.

• Net cash used in operating activities was $55,000; net cash used in investing activities was $454,000.

• Cash and cash equivalents at quarter end were $549,000, down from $1,058,000 at the start of the quarter.

• Payments to related parties totaled $106,000 for the quarter.

Outlook and guidance

• Further RC drilling and systematic exploration planned at Austin Gold Project to extend high-grade zones and test new targets.

• Target generation and assessment of epithermal potential ongoing at Ashburton Project.

• Expected receipt of $200,000 cash and 4,000,000 Kingfisher Mining shares upon Broken Hill divestment settlement in December 2025 quarter.

• Board continues to monitor funding requirements and may pursue future capital raising if needed.