Minerals 260 (MI6) Q2 2026 TU earnings summary

Executive summary

• Bullabulling Gold Project's Mineral Resource Estimate (MRE) increased to 130Mt at 1.0g/t Au for 4.5Moz, a 2.2Moz rise since the previous estimate, positioning it as a leading gold development in Australia.

• 117,561m of drilling completed, with 90,650m used for the MRE; drilling confirmed thick, high-grade mineralisation and continuity at depth and along strike.

• Pre-Feasibility Study (PFS) is on track for completion in mid-2026, with GR Engineering appointed for processing plant design.

• No lost time injuries or reportable health, safety, or environmental incidents during the quarter.

Financial highlights

• Cash balance at 31 December 2025 was approximately $31 million.

• Net cash outflows from operating activities for the quarter were $11.1 million, mainly due to $10.7 million in exploration and evaluation costs.

• Cash outflows from investing activities totaled $0.4 million, primarily for tenement acquisitions and equipment.

• Cash inflows from financing activities were $0.1 million, mainly from option exercises.

Outlook and guidance

• MRE update planned for mid-2026, with further drilling to target resource growth at depth and along strike.

• PFS completion and final investment decision targeted for mid-2026, with first production aimed for H2 2028.

• Ongoing recruitment of key project personnel and early works to de-risk and accelerate the project schedule.