S2 Resources (S2R) H2 2026 earnings summary

Executive summary

• FY26 exploration progress was slowed by land-access hurdles; most were resolved, with drilling expected to restart from October 2026, subject to rig availability.

• Portfolio focus shifted to prospective gold, copper and nickel targets, with several underperforming or access-constrained projects exited and proceeds from Fosterville strengthening funding.

Financial highlights

• Continuing-operations profit was $12.73m, versus an $8.78m loss in FY25; FY26 earnings included a $16.45m gain on the Fosterville licence sale.

• Net profit was $12.73m versus a FY25 net loss of $2.59m; basic and diluted EPS was 2.44 cents versus a 0.57-cent loss.

• Cash and cash equivalents rose to $18.57m from $3.79m; total assets were $26.30m and net assets were $25.36m at 30 June 2026.

• Operating cash outflow was $4.86m; investing activities provided $16.39m, including $17m gross proceeds from the licence sale.

Outlook and guidance

• Planned Warraweena follow-up drilling was underway at the time of reporting; Jillewarra RC and reconnaissance aircore programs awaited rig availability and remaining clearances.

• Loch Lilly trial geophysics began after year-end, with drilling preparations targeting early 2027.

• Exploration in Australia is expected to continue, while new opportunities are to be assessed for portfolio value.