Resolution Minerals (RML) H2 2026 earnings summary

Executive summary

• Completed acquisition of 100% of the Horse Heaven Project in Idaho, USA, focusing on antimony, tungsten, gold, and silver, with significant exploration and technical advancements across the project.

• Major gold discoveries at Golden Gate North and South, advancement of high-grade antimony-silver system at Antimony Ridge, and acquisition of Johnson Creek processing site and historical tungsten stockpiles.

• Secured substantial institutional funding: A$25.1 million placement in September 2025 and A$20 million in April 2026, supporting exploration, metallurgy, permitting, and strategic initiatives.

• Admitted as a member of the U.S. Defense Industrial Base Consortium and received FAST-41 Transparency Coverage for key projects, enhancing U.S. government engagement.

Financial highlights

• Net loss after tax for FY26 was $53.3 million, a significant increase from $6.0 million in FY25, primarily due to ramped-up activity around the Horse Heaven acquisition and related share-based payments.

• Revenue from interest and other income totaled $296,397.

• Share-based payments for employee and advisory services totaled $34.97 million.

• Cash and cash equivalents at year-end were $10.3 million, up from $1.2 million in FY25.

• Exploration and evaluation expenditure capitalized at $74.4 million, up from $2.4 million in FY25.

Outlook and guidance

• Focus remains on advancing Horse Heaven as a key U.S. source of critical minerals, with ongoing exploration, metallurgical testing, and permitting.

• Continued engagement with U.S. government and defense sectors to secure supply chain opportunities and potential funding.

• Ongoing rationalization of non-core assets to direct capital and management attention to Horse Heaven.