Xtract Resources (XTR) H1 2026 earnings summary

Executive summary

• Secured a 10-year mining licence for the Amghas antimony mine in Morocco, advancing near-term production plans.

• Entered a joint venture for the Silverking copper-silver mine in Zambia, with production commencing post-period end.

• Streamlined project portfolio to focus on Amghas and Silverking, relinquishing Western Foreland and Chilibwe licences.

• Raised £2.1 million post-period end to fund further development at Amghas and Silverking.

Financial highlights

• Net loss of £0.98m for H1 2026, improved from £1.17m loss in H1 2025.

• Administration and operating expenses increased to £1.16m (H1 2025: £0.78m).

• Cash balance at period end was £0.52m, down from £0.94m at FY 2025.

• Total assets stood at £17.93m (FY 2025: £17.58m).

• Raised £2.1m through equity issue post-period end.

Outlook and guidance

• Directors anticipate net operating cash inflows over the next twelve months.

• No additional financial resources expected to be required for ongoing operations in the next year.

• Continued focus on advancing Amghas and Silverking towards production and resource expansion.