Saturn Metals (STN) Q4 2025 TU earnings summary

Executive summary

• Achieved a significant Mineral Resource Estimate upgrade at Apollo Hill to 2.24Moz, with 82% now Measured and Indicated, supporting a large-scale, low-cost mining and heap leach scenario.

• Strong drilling results, including thick and high-grade intersections, reinforce Apollo Hill's potential for further resource growth and robust project economics.

• Exceptional metallurgical test work delivered average gold recoveries of 86% from near-surface oxide and transitional samples, exceeding previous assumptions.

• Successful capital raising resulted in $32.25 million in new equity, with a heavily oversubscribed share purchase plan.

Financial highlights

• Cash position at quarter end was $27.18 million, up from $4.54 million in the previous quarter.

• Net cash from financing activities was $31.07 million for the quarter, driven by equity issues.

• Net cash used in operating and investing activities totaled $8.43 million for the quarter.

• Estimated quarters of funding available is 3.24, based on current cash and outgoings.

Outlook and guidance

• Pre-Feasibility Study (PFS) and maiden Ore Reserve for Apollo Hill scheduled for completion in December quarter 2025.

• Ongoing drilling and studies aim for a further Mineral Resource update, supporting a DFS mining inventory and updated Ore Reserve targeted for CY2026.

• Continued focus on exploration and development across the 1,000km² Apollo Hill land package and new regional targets.