Diatreme Resources (DRX) Q2 2026 TU earnings summary

Executive summary

• Appointed Brian Flannery as Chair, leveraging his mining and project development expertise for the Northern Silica Project (NSP) as it advances through approvals and financing.

• Completed sale of Cape Flattery Silica Project (CFSP) to Cape Silica Holdings (CSH), streamlining asset ownership and securing $7.4 million in funding.

• Achieved significant upgrades to silica sand resources, including a 10.6% increase in the Si2 Deposit MRE and a maiden estimate for the Casuarina Deposit.

• Continued community engagement and support for local initiatives in Hope Vale and Cooktown.

Financial highlights

• Cash and cash equivalents at $2.7 million, with an additional $4.5 million in silica projects JV, totaling $7.2 million as of 30 June 2026.

• Secured a 12-month extension to a $1 million debt facility, now maturing 30 May 2027.

• Received $2.1 million reimbursement for agreed costs from the CFSP transaction.

• Sibelco exercised a call option post-quarter, providing an additional $4.4 million in funding.

Outlook and guidance

• Focus for September quarter includes progressing NSP approvals, completing Pre-Feasibility Study, and advancing community and native title agreements.

• Cyclone Zircon Project to continue test work, site visits, and explore value realization options including sale or JV.