Tolu Minerals (TOK) Q1 2027 TU earnings summary

Executive summary

• Tolukuma advanced toward a targeted early-2027 production restart, with record drilling, a larger resource, underground development and plant refurbishment progressing.

• Quarter-end cash was A$56.5 million after drawing a five-year PGK 95 million debt facility; seven diamond rigs were operating.

Financial highlights

• Cash and cash equivalents rose to A$56.538 million at 30 September 2026 from A$50.009 million at quarter start.

• Quarterly operating cash outflow was A$2.032 million; investing outflow was A$20.580 million and financing inflow was A$29.137 million.

• Exploration and evaluation cash payments were A$13.537 million in the quarter; reported exploration and evaluation expenditure was A$13.357 million.

Outlook and guidance

• Production restart is targeted for early 2027, with continued resource conversion, underground stoping and stockpile growth planned ahead of plant restart.

• 2026 drilling is forecast at 43,000–44,000 metres; drilling exceeded 4,000 metres per month, with seven rigs operating.

• Planned work includes commissioning underground equipment, completing the SAG mill gear change, progressively replacing the CIL circuit and advancing regional exploration.