GBM Resources (GBM) Q2 2026 TU earnings summary

Executive summary

• Stage 1 drilling at Twin Hills (309 and Lone Sister) intersected broad, high-grade gold mineralisation outside the existing Mineral Resource Estimate (MRE), enhancing geological models and exploration targeting.

• Notable drill results at 309 include 29m @ 3.13g/t Au and 29m @ 2.63g/t Au, while Lone Sister returned 89m @ 1.28g/t Au and 52m @ 2.77g/t Au, all outside current MRE boundaries.

• Divestment of non-core assets White Dam and Cloncurry completed, with proceeds including A$1.7m cash and 15m Pacgold shares (A$2.3m value), plus a deferred payment and royalty exposure.

• Placement raised A$40m from institutional and sophisticated investors, strengthening the balance sheet and shareholder base.

Financial highlights

• Net cash used in operating activities for the quarter was A$1.33m; net cash used in investing activities was A$3.60m.

• Financing activities provided A$33.5m net cash, mainly from equity placement.

• Cash and cash equivalents at quarter end were A$33.39m, up from A$4.80m in the previous quarter.

• Estimated quarters of funding available: 11, based on current cash burn and cash position.

Outlook and guidance

• Stage 2 drilling at Twin Hills is set to commence in the coming weeks, targeting deeper feeder zone mineralisation.

• Pending assays from seven additional drillholes at 309 are expected to further inform resource growth potential.