Torque Metals (TOR) Q1 2027 TU earnings summary

Executive summary

• Updated Ritz Gold Project MRE totals 3.47Mt at 3.1g/t Au for 351koz across Paris, HHH and Observation; 42% is Indicated, up from 25%.

• High-grade drilling extended mineralisation at HHH and Observation, including results outside existing resource boundaries.

• A $25m institutional placement completed post-quarter to accelerate resource growth and regional exploration.

Financial highlights

• Cash on hand was $7.7m at 30 September 2026; quarterly operating and investing expenditure, net of income, was $5.9m.

• Exploration and evaluation spend was $5.3m, representing over 89% of quarterly cash expenditure; financing cash outflow was $0.1m, related to finance leases.

Outlook and guidance

• December-quarter plans include continued growth drilling at HHH and Observation and further DHEM surveys to refine priority targets.

• Regional work includes RC drilling at Strauss, evaluating South Kalgoorlie opportunities and reviewing lithium-tenement prospectivity.

• Further drilling and regional exploration are expected to support progress toward the long-term one-million-ounce-plus camp aspiration.