Odyssey Gold (ODY) Q4 2026 TU earnings summary

Executive summary

• Stage 1 Scoping Study confirms Tuckanarra as a robust gold project with 79,000oz recovered gold over 29 months, generating pre-tax cashflows of A$180 million at A$6,000/oz gold price.

• Toll Milling Agreement signed with Gylden Resources for up to 750,000 tonnes at Kirkalocka Plant in 2027, with a 12-month extension option.

• Updated Mineral Resource Estimate (MRE) for Cable Deposit: 2.75Mt @ 1.8g/t Au for 158,000oz; total Tuckanarra MRE now 6.3Mt @ 2.2g/t Au for 451,000oz.

• Metallurgical testwork confirms gold leach recovery up to 95.9% in 8 hours.

• Significant drill results at Bollard, Cable, and Shackle prospects highlight high-grade mineralisation and resource growth potential.

Financial highlights

• Pre-production capital costs for Stage 1 estimated at A$7 million.

• Operating cash costs for Stage 1 projected at A$3,400/oz (pre-tax).

• Net pre-tax cashflows for Stage 1 estimated at A$180 million.

• Cash reserves at 30 June 2026: A$5.8 million.

• Net cash outflow from operating activities for the quarter: A$2.96 million.

• Proceeds from equity issues in the year to date: A$9.35 million.

Outlook and guidance

• Stage 2 Scoping Study underway to assess long-term potential from the full 451,000oz resource, including on-site treatment options.

• Stage 1 recovers only 19% of the total Mineral Resource, indicating significant expansion potential.

• Company expects to raise additional funding to support ongoing exploration and development.