Peel Mining (PEX) Q4 2025 TU earnings summary

Executive summary

• Completed diamond drilling for metallurgical testwork and geotechnical analysis at Wagga Tank as part of project scoping works.

• Commenced comprehensive metallurgical testwork on Wagga Tank Open-Pit material; results expected next quarter.

• Identified and began drilling at high-priority targets in the Wagga Tank–Southern Nights area and Chuchi prospect.

• Advanced Curnamona Project JV with Red Hill Minerals, with a 4,000m diamond drill program at Broken Hill set for September.

• Native Title Agreement executed for Anabama Project, enabling heritage surveys and future drilling.

Financial highlights

• Cash at bank at quarter end was $1.399 million.

• Net cash used in operating activities for the quarter was $455,000; investing activities used $769,000.

• Estimated quarters of funding available is 1.18, with ongoing discussions for potential capital raising.

• Payments to directors during the quarter totaled $243,741, including superannuation.

Outlook and guidance

• Results from Wagga Tank metallurgical testwork expected in the next quarter.

• Preparations underway for drilling at Nombinnie and further regional prospects.

• 4,000m diamond drilling at Broken Hill Project scheduled for September; EM surveys at Immortan and Dementus targets to commence in August.

• Company confident in ability to raise further funds and continue operations.