Torque Metals (TOR) Q2 2026 TU earnings summary

Executive summary

• Strong December quarter with high-grade gold intercepts at Paris and HHH deposits, confirming a large, multi-lode gold system and significant resource expansion potential.

• Aggressive exploration strategy using multi-rig drilling and DHEM surveys is extending mineralisation well beyond the current resource footprint.

• $15 million capital raise completed, boosting cash reserves to $16 million and positioning for continued resource growth and development.

Financial highlights

• Cash balance at 31 December 2025 was $16.0 million, up from $4.3 million at 30 September 2025, following capital raising and option exercises.

• Exploration and evaluation expenditure for the quarter was $2.41 million, primarily on drilling, assaying, and tenement rates.

• Net cash used in operating activities for the quarter was $324,000; net cash used in investing activities was $3.03 million.

• Proceeds from equity issues and option exercises totaled $16.2 million for the quarter.

Outlook and guidance

• Fully funded to execute aggressive multi-rig drilling and advance Paris Gold Camp growth through 2026.

• In-the-money options expiring May 2026 could provide an additional $4.6 million in funding.

• Estimated quarters of funding available is 5.87, supporting ongoing exploration and development.