RTG Mining (RTG) Q2 2026 earnings summary

Executive summary

• Advanced progress toward Final Investment Decision (FID) for the Mabilo Copper and Gold Project, with operational start-up targeted for early Q4 2026 and production expected in H1 2027.

• Secured binding finance and offtake agreement with Glencore for 100% of Stage 1 capital expenditure at Mabilo, enabling accelerated development.

• Continued preparations and planning for drilling campaigns at both Mabilo (Philippines) and Chanach (Kyrgyz Republic) projects, with field activities set to commence in Q3 2026.

• Maintained strong cash position with A$8.3 million in cash and liquid assets as of 30 June 2026.

Financial highlights

• Cash and cash equivalents at quarter end were US$5.73 million, down from US$7.29 million in the previous quarter.

• Net cash used in operating activities for the quarter was US$892,714.

• Net cash from investing activities was negative US$752,307, primarily due to loans to other entities.

• Payments to related parties totaled US$219,492 for the quarter.

Outlook and guidance

• Mabilo Project FID expected in early Q4 2026, with operational start-up approximately eight months later.

• Drilling at Mabilo to target extensions of high-grade chalcocite material; Chanach drilling to upgrade resource status, both commencing in Q3 2026.

• Copper market fundamentals remain strong, supporting robust project economics.