Valiant Gold (VAL) Q4 2026 TU earnings summary

Executive summary

• Mining services agreement executed for Comet Project; dewatering and rehabilitation underway to prepare for mine restart.

• Maiden diamond drilling at Reedy Project confirms mineralisation extends 400m below existing resource, indicating significant growth potential.

• Strong cash position of $67.7M at quarter end, with strategic hires to support growth and development objectives.

Financial highlights

• Total cash and term deposits at quarter end: $67.7M, including $5M in term deposits with maturities over 90 days.

• Quarterly exploration expenditure totaled $2.27M.

• Net cash used in operating activities for the quarter: $(74)K; net cash used in investing activities: $(7.4)M.

• Estimated 26.8 quarters of funding available at current expenditure rates.

Outlook and guidance

• Dewatering, site establishment, and rehabilitation at Comet Mine to continue.

• Award of full underground mining services contract for Comet restart expected.

• Mobilisation of a second drill rig to Boomerang Gold Deposit at Reedy Project scheduled for August.