Peel Mining (PEX) Q1 2026 TU earnings summary

Executive summary

• Board and management team strengthened with new appointments, including a new CEO, Chairman, CFO, and Non-Executive Director, to drive a refreshed strategy and unlock asset value.

• Strategic focus shifted from standalone processing to regional processing and consolidation opportunities in the Cobar Basin.

• Exploration activities ramped up, with drilling at Nombinnie and ongoing evaluation at Wagga Tank and Chuchi prospects.

Financial highlights

• $16.25 million raised via a two-tranche placement at $0.085 per share, with $1.05 million invested by Board and management.

• Share Purchase Plan (SPP) raised $5 million, exceeding the initial $2.5 million target.

• Cash balance at quarter end was $1.5 million.

• Net cash used in operating activities was $0.75 million; investing activities used $1.05 million; financing activities provided $1.91 million.

Outlook and guidance

• Additional $18.3 million in net proceeds expected in the December 2025 quarter, subject to shareholder approval.

• Leadership team to conduct a comprehensive review of growth opportunities, including regional consolidation and development initiatives.

• Company expects to continue operations and meet business objectives, supported by recent and upcoming capital raises.