Stellar Resources (SRZ) Q3 2026 TU earnings summary

Executive summary

• Advanced Prefeasibility Study (PFS) activities at Heemskirk Tin Project, aiming for development-ready status and top 10 global tin producer position.

• Achieved a 41% increase in Queen Hill Mineral Resource and crossed 100kt contained tin inventory across Heemskirk and St Dizier.

• Expanded drilling at Severn with significant new high-grade tin mineralisation discovered, supporting resource growth.

• Secured consent for Mining Licence Application over Comstock site for Tailings Storage Facility, de-risking project development.

• Maintained strong cash position of $11.7 million at quarter end.

Financial highlights

• Cash and cash equivalents at quarter end: $4.7 million, with an additional $7 million in term deposits.

• Exploration and evaluation expenditure for the quarter: $1.13 million.

• Employee, administration, and corporate costs: $517,000 for the quarter.

• Net cash used in operating activities: $(1.63) million for the quarter.

• Estimated quarters of funding available: 2.9.

Outlook and guidance

• Updated Severn Resource expected in Q2 2026; PFS completion targeted for early Q3 2026.

• Ongoing discussions with potential offtake partners for concentrate sales.

• Aiming to become a producer of 3,000–3,500 tpa of payable tin, about 1% of global supply (aspirational statement).