Winsome Resources (WR1) Q1 2026 TU earnings summary

Executive summary

• Completed focused drilling at Adina for resource delineation, extension, and geotechnical targets, with fieldwork on time and on budget using Canadian Flow Through funds.

• High-grade cesium-lithium mineralisation discovered at Sirmac-Clapier, including new zones and confirmation of pollucite as the cesium-bearing mineral.

• Environmental baseline studies for Adina advanced, supporting the ESIA process and feasibility study.

• Maintained strong liquidity with $14.5M cash and $25.5M in Power Metals shares; holds 16.1% equity in Power Metals Corp.

• Withdrew from Renard call option to focus on Adina and capital discipline, but continues stakeholder engagement for potential synergies.

Financial highlights

• Cash and cash equivalents at quarter end: A$14.5M, down from A$18.3M in the previous quarter.

• Net cash used in operating activities: A$0.91M for the quarter.

• Net cash used in investing activities: A$2.90M for the quarter, mainly for exploration and evaluation.

• Estimated quarters of funding available: 3.81 based on current cash burn.

• Market capitalisation at 30 September 2025: A$41.5M; share price A$0.17.

Outlook and guidance

• Assay results from Adina drilling expected in the December quarter.

• Ongoing studies to reduce Adina's cost profile and investigate value addition from critical minerals.

• Continued stakeholder engagement and environmental studies to support project advancement.