Sentinel Metals (SNM) Q2 2026 TU earnings summary

Executive summary

• Commenced maiden diamond drilling at the Columbia Gold-Silver Project, Montana, after securing final regulatory approval; first hole intersected broad mineralisation and deeper breccia, validating exploration models.

• Announced binding agreement to acquire the Big Springs Gold Project in Nevada, adding a 1.01Moz gold resource and doubling the company's North American resource base to ~2Moz.

• Raised $15 million via institutional placement to fund the Big Springs acquisition, exploration at both projects, and working capital.

Financial highlights

• Ended the quarter with approximately A$3.7 million in cash and cash equivalents.

• Exploration and evaluation expenditure for the quarter was ~A$1.23 million, focused on pre-drilling, geophysical surveys, and road works at Columbia.

• Actual expenditures for the quarter were under budget across all categories, including exploration, offer costs, and working capital.

Outlook and guidance

• First assay results from Columbia drilling expected in early August, with ongoing drilling and follow-up planned to test mineralisation extent.

• Completion of the Big Springs acquisition and further drilling results anticipated to drive value in the September quarter.