Saturn Metals (STN) Q1 2027 TU earnings summary

Executive summary

• Apollo Hill advanced toward development with Mining Lease M31/496 granted, environmental review submitted and DFS targeted for completion in the December 2026 Quarter.

• Drilling extended the gold-bearing system up to 1km north of the existing 2.83Moz resource; new Aquarius exploration ground was granted for follow-up drilling.

Financial highlights

• Cash and cash equivalents were $110.740m at 30 September 2026; quarterly operating cash outflow was $1.102m and investing cash outflow was $7.607m.

• Quarterly equity proceeds were $81.490m; net cash from financing activities was $79.017m after $2.330m of equity-issue costs and other financing outflows.

Outlook and guidance

• DFS completion and an updated Ore Reserve are targeted for the December Quarter; FEED is planned for early 2027, early works from mid-2027 and plant construction from early 2028, subject to FID.

• December Quarter plans include a fourth fresh-water bore field, continued Apollo Hill drilling and drilling at Aquarius.

• Process engineering had advanced beyond the 70% gate and was on track for December Quarter completion; metallurgical variability testing and water-balance studies continued.