Peel Mining (PEX) H1 2026 earnings summary

Executive summary

• Reported a net loss of $5.0 million for the half-year ended 31 December 2025, compared to a $1.1 million loss in the prior year period.

• Undertook significant board and management changes, including new CEO, Chairman, and CFO appointments.

• Completed a $16.25 million capital raising and a $5.0 million share purchase plan, both oversubscribed.

• Entered into a binding agreement for acquisition by Aeris Resources, with a concurrent demerger of remaining assets into NewCo.

Financial highlights

• Revenue and other income totaled $352,340, up from $388,064 in the prior period.

• Share-based remuneration expenses rose sharply to $2.35 million from $0.24 million year-over-year.

• Cash and cash equivalents at period end were $9.6 million, up from $1.4 million at June 2025.

• Total assets increased to $126.9 million from $109.2 million at June 2025.

• Net cash outflow from operating and investing activities was $12.0 million, offset by $20.3 million net inflow from financing activities.

Outlook and guidance

• Strategic review completed to unlock value from the asset portfolio and position for growth.

• Planned follow-up drilling and exploration at Nombinnie and other prospects.

• Pending shareholder and regulatory approval, the Aeris transaction and NewCo listing are targeted for mid to late 2026.