Falcon Metals (FAL) Q4 2026 TU earnings summary

Executive summary

• Ongoing 24/7 diamond drilling at Blue Moon Gold Project, extending mineralisation to over 600m of strike, with new Jasmine Zone discovered above Lotus Zone and visible gold intersected in step-out holes.

• 20,178m aircore drilling program completed at Pyramid Hill Gold Project, assays pending.

• Planning advanced for first drilling at Errabiddy Gold Project (WA), with heritage survey underway and $180,000 EIS co-funding grant approved.

• Well-funded with $15.4 million cash at quarter end.

Financial highlights

• $4.1 million spent on operating activities during the quarter: $3.7 million on exploration, $0.2 million on corporate costs, $0.2 million on staff.

• $0.2 million interest received on cash deposits; net cash outflow from operating activities was $3.9 million.

• Cash and cash equivalents at quarter end: $15.4 million.

• Estimated 4.0 quarters of funding available at current expenditure rates.

Outlook and guidance

• Ongoing step-out and wedge drilling at Blue Moon targeting further extensions of high-grade zones.

• Next assay results expected in 1-2 weeks due to high exploration activity in Victoria.

• First drilling at Errabiddy’s Olsen Well target planned for Q3 2026, pending heritage survey completion.