Investigator Silver (IVR) Q1 2027 TU earnings summary

Executive summary

• Mining Lease Application lodged for the Paris Silver Project; assessment and community consultation commenced, advancing the South Australian approvals process.

• A fully funded 30,000m drilling program commenced, targeting resource growth, confidence conversion and mineralisation beyond the current DFS mine plan.

• Quarter-end cash was $55.1m, supporting permitting, project execution, exploration and financing-readiness workstreams.

Financial highlights

• Cash and cash equivalents were $55.054m at 30 September 2026, down from $58.760m at the start of the quarter.

• Net operating cash outflow was $489k; exploration and evaluation payments classified as investing activities were $3.213m.

• Net investing cash outflow was $3.211m, including $219k proceeds from tenement disposals; financing cash outflow was $6k in equity transaction costs.

Outlook and guidance

• Next-quarter permitting priorities include advancing the Native Title Mining Agreement, land access negotiations and PEPR preparation.

• Plans include completing power studies and advancing metallurgical testwork, engineering definition, mine planning and execution readiness.

• Continue the 30,000m drilling program and regional exploration, while progressing financing counterpart engagement and due-diligence materials.