Focus Minerals (FML) Q2 2026 TU earnings summary

Executive summary

• Achieved stable and efficient milling at Three Mile Hill, processing 350,507 tonnes at 1.80 g/t with 95.2% recovery during the June 2026 quarter.

• Open pit mining at Alicia, Dreadnought, and CNX delivered 199,923 tonnes at 0.80 g/t for 5,160 ounces; Bonnie Vale Underground produced 101,641 tonnes at 4.29 g/t for 14,011 ounces.

• Sold 12,805.71 ounces of gold at an average price of A$6,377.92/oz and 2,879.60 ounces of silver credits.

• Cash and cash equivalents at quarter end were $122.15 million, with an additional $94.9 million in term deposits and 6,577.409 oz of gold held in the Perth Mint account.

Financial highlights

• Receipts from customers totaled $81.98 million for the quarter, with net cash from operating activities at $7.8 million.

• Payments for development and production were $10.4 million and $56.9 million, respectively.

• Net cash used in investing activities was $35.84 million, mainly due to bond/deposit payments and exploration.

• No new equity or debt raised; net decrease in cash for the quarter was $28.04 million.

Outlook and guidance

• Resource development drilling advanced at Bonnie Vale, CNX, Greenlight, and Patricia Jean to support future mine development and new mineral reserves.

• Final mining at Alicia is scheduled for July and August as pit constraints delayed completion.

• Estimated quarters of funding available is 18.22, indicating strong liquidity for ongoing operations.