KGL Resources (KGL) Q1 2027 TU earnings summary

Executive summary

• Jervois remained on schedule for first copper concentrate production in H1 CY2028; post-quarter FID approved full project execution, with capital costs consistent with the April 2026 BEM.

• The A$300M equity raising completed during the quarter; together with Wheaton funding, it supports development through construction and into production.

Financial highlights

• Cash and cash equivalents were A$275.4M at 30 September 2026, compared with A$25.4M at 30 June; the quarter included A$300M gross equity proceeds.

• Quarterly operating cash outflow was A$3.146M; investing cash outflow was A$26.109M, including A$21.630M for exploration and evaluation and A$4.254M for security deposits.

• Financing cash inflow was A$279.242M after A$20.727M in equity-raising and streaming transaction costs and A$31k in borrowings repayment.

Outlook and guidance

• First concentrate production remains targeted for H1 CY2028, with ramp-up to full processing capacity expected in H2 CY2028.

• The project has an initial 10-year mine life and targets ~30,000 tonnes of copper annually at steady state, with silver and gold by-products.

• A$20M exploration program for 2026–2028 targets resource growth, mine-life extensions and new discoveries across Jervois and Unca Creek.