Mont Royal Resources (MRZ) H2 2026 earnings summary

Executive summary

• Completed merger with Commerce Resources Corp., acquiring the Ashram Rare Earths & Fluorspar Project in Québec, Canada, and re-listed on the ASX in November 2025.

• Delivered an updated Preliminary Economic Assessment (PEA) for Ashram, confirming its status as one of North America's largest monazite-hosted rare earth deposits with a 30-year mine life and robust economics.

• Advanced environmental, permitting, and stakeholder engagement for Ashram and Saguenay development footprints.

• Executed a non-binding MOU with the Saguenay Port Authority to support downstream processing and logistics.

Financial highlights

• Net loss after tax for the eight months ended 30 June 2026 was $2,772,620, compared to a $6,556,423 loss for the 12 months ended 31 October 2025.

• Total comprehensive loss for the period was $6,871,946, including a $4,099,326 foreign currency translation loss.

• Cash and cash equivalents at 30 June 2026 were $4,391,344, down from $10,165,403 at 31 October 2025.

• No dividends were paid or declared during the period.

Outlook and guidance

• Plans to continue exploration activities on existing projects, with ongoing metallurgical optimization and engineering refinement at Ashram.

• Ongoing engagement with strategic partners and stakeholders to advance project development and infrastructure.

• Received CAD $2.2 million Quebec tax credit in August 2026, post-period end.