Carnaby Resources (CNB) H1 2026 earnings summary

Executive summary

• Net loss after tax for the half year ended 31 December 2025 was $4,552,422, compared to a loss of $4,367,476 for the same period in 2024.

• Net assets increased by $12,823,720 year-over-year, reaching $49,117,954.

• Cash position at 31 December 2025 was $14,603,154, up from $11,957,006 at 30 June 2025.

• Completed acquisition of 100% interest in Trekelano mining leases and the remaining 17.5% of the Greater Duchess Copper Gold JV.

• Raised $12.5 million through a placement to the QIC Critical Minerals and Battery Technology Fund.

Financial highlights

• Revenue from interest and other income totaled $220,943 for the half year (2024: $221,985).

• Administrative expenses were $542,039, and project exploration and evaluation expenses were $4,193,826.

• Share-based payment expense was $15,155 (2024: $250,063).

• Basic and diluted loss per share was $0.019 (2024: $0.025).

• Cash flows from financing activities were $12,408,953, primarily from share capital raised.

Outlook and guidance

• Pre-Feasibility Study (PFS) for the Greater Duchess Project is nearing completion, with release expected in Q1 CY2026.

• Targeting a potential final investment decision (FID) in H1 2026 and first ore production in H2 2026.

• Ongoing feasibility assessments and exploration drilling at key Queensland projects.