KGL Resources (KGL) Q1 2026 TU earnings summary

Executive summary

• Advanced construction readiness for the Jervois Project, including enabling works, procurement, and integration of execution partners.

• Project optimisation underway to leverage higher metal prices, focusing on open cut resource expansion and capital efficiency.

• Active engagement with potential funding partners, with due diligence and site visits progressing toward securing project financing.

• Strategic exploration program leveraging advanced geophysics to expand resources and identify new targets across the Jervois-Unca Creek tenement.

• Market conditions for copper, silver, and gold remain highly favourable, supporting the project's long-term value proposition.

Financial highlights

• Cash and cash equivalents at 30 September 2025 were $2.73 million.

• Share placement announced on 31 October 2025 raised approximately A$11 million before costs.

• Net cash used in operating activities for the quarter was $(1.28) million; net cash used in investing activities was $(1.09) million.

• Estimated quarters of funding available at quarter end was 1.15, with additional funds raised post-quarter.

Outlook and guidance

• Construction commencement targeted for 2026, with first production expected in 2027.

• Ongoing focus on securing optimal funding solutions and advancing project milestones.

• Exploration and drilling programs sequenced to align with development and financing strategy.