Australian Gold and Copper (AGC) Q1 2026 TU earnings summary

Executive summary

• Achieved significant growth in South Cobar with two major tenement acquisitions, expanding total exploration tenure to 2,600km².

• Maintained strong cash position of $12.5M at quarter end, supporting ongoing exploration and acquisitions.

• Advanced exploration at Achilles with extensive drilling and robust metallurgical test results.

• Appointed a new CFO/Co Sec, Rowan Caren, bringing over 30 years of industry experience.

Financial highlights

• Cash and cash equivalents at quarter end: $12.5M, down from $14.0M in the previous quarter.

• Exploration and evaluation expenditure: $1.42M for the quarter.

• Net cash used in operating activities: $0.6M; net cash used in investing activities: $1.53M.

• Proceeds from exercise of options: $0.6M.

• Estimated quarters of funding available: 6.19.

Outlook and guidance

• Maiden JORC Mineral Resource for Achilles expected by year-end.

• Continued drilling at Achilles and along the Shear Zone, with new drilling to commence at Browns Reef.

• Integration of Browns Reef data and targeting new areas on recently acquired licences.