Golden Horse Minerals (GHM) Q2 2026 TU earnings summary

Executive summary

• Drilling at Hopes Hill extended the mineralised system beyond 3km, confirming continuity of high-grade gold both along strike and at depth.

• Regional exploration at Hakes Find and Greenmount delivered shallow and deep high-grade gold intercepts, expanding the pipeline of targets.

• An independent review of the Sorrel Copper Project identified multiple high-priority copper, cobalt, uranium, and rare earth targets, reaffirming the project's growth potential.

• No safety or environmental incidents were recorded, and the company maintained strong operational momentum.

Financial highlights

• Cash on hand at 30 June 2026 was approximately $30.6 million.

• Payments to related parties during the quarter totaled ~$131k for director salaries and fees.

• Actual use of funds since ASX admission matched the prospectus estimate of $18 million over 18 months.

Outlook and guidance

• Ongoing RC and diamond drilling at Hopes Hill and regional prospects will continue into the September quarter.

• The inaugural Mineral Resource Estimate for Hopes Hill is planned for the second half of CY2026.

• Continued regional exploration and follow-up at the Sorrel Copper Project are scheduled for the dry season.