Dreadnought Resources (DRE) H2 2026 earnings summary

Executive summary

• Focused on self-funding through cash flow from Star of Mangaroon and Metzke's Find, major gold discoveries, and maintaining critical metals optionality funded by third parties.

• Significant progress in outsourcing funding, development, haulage, and processing of high-grade deposits to reduce reliance on market funding.

• Upgraded resources at Star of Mangaroon (27,000 oz @ 11.1 g/t) and Metzke's Find (24,900 oz @ 5.2 g/t), with mining approvals and leases secured.

• Expanded exploration team and acquired strategic landholdings with rare earth and tungsten mineralisation.

Financial highlights

• Net loss for FY2026 was $2,616,172, a significant improvement from $18,882,469 in FY2025, mainly due to lower impairment charges.

• Net assets increased by $17,735,297 to $69,767,657 as of 30 June 2026.

• Market capitalisation at year-end was $74,427,600.

• Cash and cash equivalents at year-end were $15,701,845, up from $10,186,957.

• Share issues and placements raised $19.4 million (net of costs) during the year.

Outlook and guidance

• Aims to bring Star of Mangaroon and Metzke's Find into production to generate cash flow.

• Focus on accelerating gold discoveries and maintaining critical metals optionality.

• Cash flow forecasts indicate sufficient liquidity to meet commitments through September 2027.