S2 Resources (S2R) Q3 2026 TU earnings summary

Executive summary

• Heritage Protection Agreement signed for Jillewarra, enabling imminent grant of key tenements and upcoming drilling in June/July.

• Geophysics and permitting underway at Warraweena to follow up historical gold intersections, with drilling planned for Q3.

• Strong gold-antimony anomalies identified at Silver Spoon, with infill and extensional sampling completed.

• Awaiting grant of Loch Lilly tenements, with systematic exploration planned upon approval.

Financial highlights

• Cash balance at 31 March 2026 was A$19.78 million.

• Shareholding in Valkea Resources valued at A$6.64 million, representing a 24.53% ownership.

• Operating cash outflows for the quarter were A$1.2 million, mainly for exploration (A$0.98 million), corporate costs (A$0.23 million), and staff (A$0.17 million).

• Net interest income of A$129,000 partially offset costs.

• Estimated quarters of funding available: 15.8.

Outlook and guidance

• Planned cash outflows for the June 2026 quarter are forecast at A$2.2 million.

• Drilling at Jillewarra expected to commence late June/early July, with heritage surveys in May.

• Additional geophysical surveys and permitting at Warraweena, with drilling targeted for Q3.

• Grant of Loch Lilly tenements anticipated in June, enabling exploration start.