Carnaby Resources (CNB) Q1 2026 TU earnings summary

Executive summary

• Completed acquisition of 100% of Trekelano mining leases and remaining 17.5% of Greater Duchess JV, consolidating full project ownership and control.

• Raised $12.5M via placement to QIC Critical Minerals and Battery Technology Fund, boosting pro forma cash to $19.5M.

• Advanced Greater Duchess Copper Gold Project PFS, now scheduled for Q1 CY2026 due to acquisition timing.

Financial highlights

• Cash at 30 September 2025: $7.0M, with $12.5M placement proceeds received post-quarter, totaling $19.5M pro forma.

• Exploration and evaluation expenditure for the quarter: $2.42M.

• Payments to related parties (directors): $158,441 for the quarter.

• Net cash outflow from operating activities: $(2.83)M; investing activities: $(6.0)M.

• Estimated quarters of funding available: 2, excluding post-quarter placement.

Outlook and guidance

• Greater Duchess PFS completion targeted for Q1 CY2026; DFS to follow in H1 CY2026, with FID targeted for Q3 CY2026.

• Proceeds from recent placement to fund PFS, DFS, and project advancement.