Grange Resources (GRR) H1 2026 earnings summary

Executive summary

• Revenue increased to $230.8 million for the half-year ended 30 June 2026, up from $206.4 million year-over-year, driven by higher pellet production and sales volumes.

• Statutory loss after tax of $541.8 million was recorded, compared to a $13.8 million profit in the prior year, primarily due to a $552.3 million non-cash impairment of assets.

• Underlying profit after tax was $10.5 million, down from $13.8 million, reflecting stronger sales volume but offset by FX and diesel price impacts.

• The company is transitioning to a smaller sub-level cave mining plan, extending mine life to 2035 and preserving future development options.

Financial highlights

• Revenue: $230.8 million (up from $206.4 million year-over-year).

• Statutory loss after tax: $541.8 million (2025: $13.8 million profit), driven by $552.3 million non-cash impairment.

• Underlying profit after tax: $10.5 million (2025: $13.8 million).

• Net cash inflow from operating activities: $77.1 million (2025: $41.4 million).

• Cash, cash equivalents, and liquid investments: $267.9 million (31 Dec 2025: $275.1 million).

Outlook and guidance

• The company expects to extend mine life to 2035 under the sub-level cave plan, with optionality to progress to block cave development if market and funding conditions improve.

• Ongoing focus on operational efficiency, asset renewal, and sustaining capital projects to support future production.