Bumi Resources Minerals (BRMS) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue and net income declined YoY, while substantial investment in mine development and higher borrowings expanded the asset base and funded projects.

• Strategic priorities include ramping Poboya capacity toward 10,000 TPD and starting underground mining in Q1 2027; a large accumulated deficit remains a going-concern risk.

Financial highlights

• Revenue was $167.6m vs $183.6m YoY; gross profit was $92.5m vs $98.8m and operating profit was $52.0m vs $69.7m.

• Net income was $24.3m vs $37.6m; income tax expense was $7.4m vs $13.8m. Basic and diluted EPS was $0.17 vs $0.27 per 1,000 shares.

• Operating expenses rose to $40.5m from $29.1m; net other expenses were $20.3m vs $18.3m, including interest and finance charges of $20.4m vs $9.4m.

• Total assets were $1.453bn at Sep. 30, 2026 vs $1.311bn at Dec. 31, 2025; cash and bank fell to $30.6m from $40.4m.

• Net cash from operating activities was $2.5m vs $24.8m in 9M 2025; investing activities used $119.8m vs $38.1m.

Outlook and guidance

• Poboya exploration is intended to support a planned 10,000 TPD plant; underground mining is expected to begin in Q1 2027, supporting higher gold output from higher-grade ore.

• Exploration at GM, LMR and SHS is being accelerated to meet reserve targets and support future production; loan facilities are intended to fund the strategic plans.

• Construction completion at GM’s gold plant and supporting infrastructure, and the Sungai Mak mine infrastructure project, was extended to June 28, 2027.