Brockman Mining (159) Q4 2026 TU earnings summary

Executive summary

• Advanced the Marillana Project with MinRes under the agreed Indicative Development Proposal, including ongoing technical, environmental, and social consultation work.

• Joint venture with MinRes and Polaris for Marillana and Ophthalmia projects, with Polaris holding a 50% interest in Marillana.

• No mining production or development activities were undertaken during the quarter.

Project activities

• Confirmatory technical and due diligence studies for Marillana completed, indicating enhanced yields and product quality above 61.5% Fe.

• Sinter testwork shows Marillana Fines can substitute for other Australian fines in Chinese steel mill blends.

• Environmental management, water, and greenhouse gas plans updated; ongoing ecological and hydrological monitoring.

• Social Surrounds consultation with Traditional Owners ongoing, as required by updated Western Australian legislation.

• Infrastructure solution for Marillana being developed with MinRes, Hancock, and Roy Hill, including port capacity at Port Hedland's Stanley Point Berth 3.

• Heritage survey completed at Duck Creek East; findings pending review.

Financial highlights

• Consolidated cash position at 30 June 2026 was HK$3.9 million.

• Net cash used in operating activities for the quarter was HK$4.1 million; year-to-date HK$20.1 million.

• Net cash from financing activities was HK$5.2 million for the quarter; year-to-date HK$18.8 million.

• Payments to related parties totaled HK$1.2 million for executive and non-executive directors' remuneration.