Minerals 260 (MI6) H1 2026 earnings summary

Executive summary

• Acquired Bullabulling Gold Project in April 2025, expanding landholding to 641km² and updating the Mineral Resource Estimate (MRE) to 130Mt at 1.0g/t Au for 4.5Moz, a 96% increase year-over-year.

• Commenced technical studies for a Pre-Feasibility Study (PFS) and began a 30,000m drill program to upgrade resources and inform a Definitive Feasibility Study.

• Secured a $220 million strategic funding package with Franco-Nevada, including $170 million in royalty funding and a $50 million equity investment.

• Strengthened executive team with key appointments and added a new Non-Executive Director.

Financial highlights

• Net loss for the half-year was $23,987,533, compared to a net loss of $2,247,464 for the same period last year, mainly due to a $21.8 million increase in exploration expenditure.

• Cash at bank at 31 December 2025 was $31,170,465, down from $54,382,165 at 30 June 2025.

• Net assets at 31 December 2025 were $198,632,816, compared to $221,818,431 at 30 June 2025.

• No dividends declared or paid during the half-year.

Outlook and guidance

• PFS for Bullabulling targeting completion in mid-2026, with a maiden Ore Reserve and staged development pathway.

• Updated MRE planned for mid-2026, to be incorporated into a Definitive Feasibility Study targeted for early 2027.

• Strategic funding to accelerate project development, including early site works and expanded drilling.