Kingsrose Mining (KRM) Q4 2026 TU' earnings summary

Executive summary

• Advanced exploration and permitting activities at Finnmark (Norway) and Penikat (Finland) projects, with key targets identified for follow-up and permitting processes progressing for drilling in multiple areas.

• BHP terminated its funding of the Finnmark Alliance, resulting in Kingsrose regaining 100% ownership of the Finnmark Project and seeking new JV partners.

• CEO transition with Andy Caruso appointed and Tim Coughlin resigning as Non-Executive Director.

Financial highlights

• Cash balance at 30 June 2026 was A$18.116m, down from A$19.349m at 31 March 2026.

• Net cash outflow from operating activities for the quarter was A$1.2m, a reduction from A$2.9m in the previous quarter.

• Exploration expenditure totaled A$1.0m, mainly on Finnmark (A$0.7m), Penikat, and Råna (A$0.3m).

• Receipts from bank interest and management fees were A$0.2m.

Outlook and guidance

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

• Drilling in Areas 4 and 5 could begin in January 2027 if enforcement orders are granted.

• Appeals may delay drilling in Areas 2 and 3 until late 2028.

• Ongoing search for JV partners to fund Finnmark exploration.