Kingsrose Mining (KRM) Q3 2026 TU earnings summary

Executive summary

• Advanced exploration at the Finnmark project with robust 3D geophysical datasets guiding 2026 ground surveys and target prioritization.

• Progressed permitting and stakeholder engagement for the Penikat project, with a revised approach to facilitate drilling in Area 6 by December 2026.

• Continued business development with active M&A discussions and evaluation of new project opportunities.

Financial highlights

• Cash balance at 31 March 2026 was A$19.349m, down from A$22.444m at 31 December 2025.

• Net cash outflow from operating activities for the quarter was A$2.9m, compared to A$1.9m in the previous quarter.

• Exploration expenditure for the quarter totaled A$2.3m, mainly on BHP Alliance projects.

• Receipts from bank interest and management fees for the BHP Alliance were A$0.3m.

Outlook and guidance

• Key Finnmark exploration targets to be defined for focused follow-up in 2026.

• Drilling at Penikat Area 6 anticipated to commence in December 2026, pending permit approval.

• Enforcement Orders may allow drilling in Penikat Areas 4 and 5 in January 2027; Areas 2 and 3 may be delayed until late 2028 due to appeals.

• Ongoing development of work programs for Finnmark for FY 2026/2027.