Diatreme Resources (DRX) Q1 2026 TU earnings summary

Executive summary

• Advanced critical minerals portfolio with focus on Northern Silica Project, supported by positive drilling at Si2 and Casuarina deposits.

• Streamlined Far North Queensland silica sand assets via Cape Flattery Silica Project sale to JV, unlocking funding and synergies.

• Cyclone Zircon Project achieved significant metallurgical improvements, boosting projected product yields and project value.

• Maintained active community engagement and progressed environmental approvals for key projects.

Financial highlights

• Net loss for FY2025 was $744,955, compared to $439,527 loss in FY2024.

• Cash and liquids at 31 March 2026 totaled $1.5M, with an additional $3.3M in silica JV, totaling $4.8M.

• Received $562,500 from sale of intellectual property and $226,894 from R&D Tax Incentive.

• Investment in Moonlight Resources valued at $2.6M as of 31 March 2026.

Outlook and guidance

• Plans to update Mineral Resource Estimate for Si2 and commence MRE for Casuarina in June quarter 2026.

• Completion of Pre-Feasibility Study and Maiden Ore Reserves for Northern Silica Project expected.

• Ongoing permitting, community engagement, and negotiations for mining agreements.

• Advancing Cyclone Zircon Project with technical assessments and strategic partnership discussions.