Carnaby Resources (CNB) Q1 2027 TU earnings summary

Executive summary

• Scheme of arrangement with Evolution Mining was approved by the required shareholder majorities on 26 October; completion remains subject to Court approval and other conditions.

• Greater Duchess resources total 30.8Mt at 1.6% CuEq for 482,800t CuEq, following a 10% increase in the overall estimate.

Financial highlights

• Cash at 30 September was $7.8m, including $1.4m restricted cash; cash and cash equivalents available in the cash-flow reconciliation were $6.402m.

• Operating cash outflow was $2.514m; investing outflow $463k; financing outflow $13k, comprising lease payments.

• Exploration and evaluation expenditure was $1.047m; staff costs were $705k and administration and corporate costs $879k.

Outlook and guidance

• If Court approval and other conditions are satisfied or waived, the scheme was expected to become effective on 30 October 2026, with implementation scheduled for 10 November.

• Scheme consideration is 0.0682 new Evolution shares per eligible share; timetable dates are indicative and subject to change.