Macro Metals (M4M) Q1 2027 earnings summary

Executive summary

• Mining services delivery expanded, with A$2.791M of unaudited service work performed in Q1 FY27; the first BHP site work package began at Mt Goldsworthy.

• Yandi South acquisition completed after quarter-end, while a post-quarter placement and proposed loan conversion were intended to accelerate project work.

• Priorities for the rest of FY27 include delivering contracted work, advancing approvals and drilling programs, and converting tenders into awards.

Financial highlights

• Unaudited mining services work performed was A$2.791M, up from A$2.004M in the June quarter; this is not statutory revenue.

• Customer receipts were A$1.997M and net cash from operating activities was A$115K in the September quarter.

• Cash and cash equivalents closed at A$392K, compared with A$534K at 30 June 2026.

Outlook and guidance

• Mt Goldsworthy WPI delivery is scheduled through June 2027; management targets conversion of the BHP framework into a sustained pipeline of work packages.

• Yandi South drilling and metallurgical testing are targeted for Q3 FY27, with infill and extension drilling in Q4 FY27 and a JORC 2012 resource estimate targeted by Q4 FY27, subject to approvals and results.

• Mogul VMS drilling is targeted for Q3 FY27; Gibraltar East drilling is planned for Q4 FY27, subject to approvals, heritage clearances and contractor availability.

• Paris leach facility construction is anticipated in late Q4 FY27, subject to land access and approvals; tailings treatment is targeted for FY28.

• Management expects cash inflows to increase as workflows ramp up and work in progress grows; the October placement and proposed loan conversion were cited as funding steps.