Meeka Metals (MEK) Q1 2026 TU earnings summary

Executive summary

• Gold production reached 7,148oz at an AISC of $2,133/oz, exceeding the Feasibility Study start-up plan, with production expected to increase in the December 2025 quarter.

• Cash and gold holdings increased to $59.3m after investing $21.8m in growth capital for new mines at the Murchison Gold Project.

• No lost time injuries were reported, with LTIFR at 0.0 and TRIFR at 4.2; no significant environmental incidents occurred.

Financial highlights

• Sales revenue for the quarter was $15.3m from 2,773oz of gold sold at an average price of $5,523/oz.

• Notional mine operating cash flow was $12.5m, with a net mine cash outflow of $9.2m after growth capital.

• Cash operating cost was $1,897/oz, and depreciation & amortisation totaled $7.8m ($1,095/oz).

Outlook and guidance

• Production is expected to increase in the December 2025 quarter as plant throughput rises and high-grade ore stockpiles are processed.

• Underground ore from Andy Well will be introduced to the plant blend, supporting further throughput improvements.