Prospect Resources (PSC) Q3 2026 TU earnings summary

Executive summary

• Achieved a 63% increase in tonnage and 50% increase in contained copper at Mumbezhi, now totaling 173.8Mt at 0.44% Cu (0.50% CuEq) and 772kt contained copper, compared to March 2025 MRE.

• Over 41% of the resource is now in the Indicated category, enhancing confidence for near-term development.

• Maiden gold and cobalt resources declared at Nyungu Central, with significant by-product potential.

• Acquired an additional 5% interest in Mumbezhi for US$4.25 million, increasing ownership to 90%.

• Raised approximately A$45 million in equity, ending the quarter with A$33.7 million cash and zero debt.

Financial highlights

• Net cash used in operating activities for the quarter was A$1.3 million; net cash used in investing activities was A$12.4 million.

• Raised A$35.7 million from equity securities and A$1.2 million from exercise of options during the quarter.

• Cash and cash equivalents at quarter end were A$33.7 million, with no debt facilities drawn.

• Estimated quarters of funding available: 13.14, indicating strong liquidity.

Outlook and guidance

• All new gold assay results to be incorporated into an updated Nyungu Central MRE in Q2 2026.

• Maiden MRE for West Mwombezhi expected in Q2 2026.

• Phase 3 drilling programme (50,000m) to commence in May 2026, targeting regional growth and resource conversion.

• Ongoing metallurgical testwork for gold and cobalt recoveries, with preliminary results expected in May 2026.