GBM Resources (GBM) Q3 2026 TU earnings summary

Executive summary

• Stage 1 drilling at Twin Hills delivered significant high-grade gold intercepts outside the existing mineral resource estimate (MRE), supporting resource expansion objectives.

• Stage 2, a 50,000m multi-phased drilling program, commenced with three rigs operating, targeting both infill and extensional zones to grow the MRE and improve grade confidence.

• Initial Stage 2 assays at Lone Sister confirmed continuity and extension of high-grade mineralisation, with results such as 22m @ 3.65g/t Au and 115m @ 1.69g/t Au.

• The company completed an airborne magnetic and radiometric survey over Twin Hills and Yandan, and was awarded a $250,000 CEI grant for an upcoming airborne EM survey.

• Divestments of non-core assets Cloncurry and Mt Morgan were completed, providing cash and future royalty exposure.

Financial highlights

• Cash position at 31 March 2026 was $37.6 million, with listed investments of $1.4 million and no debt.

• $5.1 million raised via placement to largest shareholder and $3.3 million from option exercises during the quarter.

• Net cash used in operating activities for the quarter was $618,000; net cash used in investing activities was $3.49 million.

• Net cash from financing activities was $8.29 million for the quarter.

• Estimated quarters of funding available is 9, based on current cash and outgoings.

Outlook and guidance

• Ongoing Stage 2 drilling at Twin Hills is expected to deliver regular assay results and culminate in an updated MRE.

• The company anticipates significant resource growth and accelerated development timelines at Twin Hills.

• Ground-based IP geophysics and further greenfields exploration updates are planned for the current quarter.