Chalice Mining (CHN) Q4 2026 TU earnings summary

Executive summary

• Feasibility Study for the Gonneville Palladium-Nickel-Copper Project advanced, with pilot plant design and long-lead items ordered; pilot plant to commence in Q3 CY26.

• Stakeholder engagement and environmental modelling continued, with ERDs to be submitted in Q4 CY26 and major approvals expected by H1 CY28.

• Socio-economic modelling shows a $24.1B contribution to WA's GSP and 3,761 jobs supported over 23 years.

• Exploration expanded with new targets at Deep Blue (WA), Callabonna JV (SA), and Warrego North (NT); drilling programs initiated or planned.

• Strong cash and investments position of $59M at 30 June 2026, funding operations through to targeted FID in H1 CY28.

Financial highlights

• Cash and listed investments at quarter end: $51.4M cash, $7.5M listed investments.

• Net cash outflow from operating activities: $4.4M for the quarter, mainly for exploration and development.

• $6.3M spent on exploration and development, $0.9M on administration and staff, offset by $0.6M interest and $2.2M R&D tax incentives.

• Estimated 11.7 quarters of funding available at current expenditure rates.

Outlook and guidance

• Feasibility Study completion targeted for H2 CY27; FID expected in H1 CY28.

• First production from Gonneville targeted for early 2030, following an 18-month construction phase post-FID.

• Funding strategy focused on byproduct streams, offtake-linked finance, sovereign credit agencies, and strategic investment.