Tribune Resources (TBR) Q3 2025 TU earnings summary

Executive summary

• Processed 37,117 tonnes of ore at 4.37 g/t from EKJV operations, with 4,909 ounces of gold produced; Tribune's share was 3,682 oz for the quarter.

• Ongoing development at Raleigh and Rubicon-Hornet-Pegasus underground mines, with significant lateral and decline development completed.

• Exploration drilling at EKJV focused on infill and resource definition at Hornet and Sadler, with assays pending.

• No significant exploration activity in Ghana, Philippines, or Seven Mile Hill JV during the quarter.

Financial highlights

• Cash and cash equivalents at 31 March were $9.187m, down from $12.328m at 31 December.

• Receipts from customers were $29.952m, down $26.349m from the previous quarter due to higher gold sales in the prior period.

• Production costs decreased by $4.667m to $13.475m, reflecting increased mined tonnes and improved efficiency.

• Net cash inflow from operating activities was $1.567m, compared to $19.970m in the previous quarter.

• Dividends paid during the quarter totaled $16.1m.

Outlook and guidance

• Hornet open pit mining sequence is set to commence in Q4 FY25, with infill drilling completed and assays pending.

• Ongoing exploration and drilling programs planned for Ghana in 2025, targeting laterite and transition zones.