Stellar Resources (SRZ) Q4 2026 TU earnings summary

Executive summary

• Achieved a 64% increase in Total Mineral Resource at Severn, now 8.54Mt @ 0.82% Sn for 70,002t contained tin, and a 125% increase in Indicated Resource to 6.05Mt @ 0.84% Sn for 50,739t contained tin.

• Total Heemskirk Tin Project Mineral Resource now 13.36Mt @ 0.86% Sn for 115.3kt contained tin; global resource base including St Dizier satellite deposit exceeds 129kt contained tin.

• Prefeasibility Study (PFS) activities are nearing completion, with reporting anticipated in Q3 2026.

• Completed $22.1 million Placement, including a $17 million strategic investment from Metals X Limited, and appointed Brett Smith as Non-Executive Director.

• Strong cash position of $30.1 million at quarter end.

Financial highlights

• Raised $22.1 million through equity placement, with $17 million from Metals X Limited.

• Cash and cash equivalents at quarter end were $3.1 million, with an additional $27 million in term deposits.

• Major cash outflows included $1.9 million for exploration & evaluation and $425,000 for employee, administration, and corporate costs.

Outlook and guidance

• PFS for Heemskirk Tin Project expected to be completed in Q3 2026, targeting increased metal output and project optimisation.

• Continued focus on resource growth, metallurgical improvements, and regional exploration, including the newly granted Ringville licence.

• Drilling and exploration to continue at Montana, Severn, and new targets.