Astral Resources NL (AAR) H1 2026 earnings summary

Executive summary

• Advanced Mandilla Project towards Final Investment Decision, with significant exploration at Mandilla, Feysville, and Spargoville projects.

• Completed approximately 36km of drilling across three projects, with Mandilla as the flagship asset.

• Loss after tax for the half-year ended 31 December 2025 was $1.74 million, compared to $1.34 million loss in the prior year period.

Financial highlights

• Revenue from continuing operations was $376,650, up from $143,242 year-over-year.

• Net loss after tax increased to $1,741,131 from $1,343,917 year-over-year.

• Cash and cash equivalents rose to $75.9 million from $18.6 million at 30 June 2025, mainly due to a $65 million equity placement.

• Total assets increased to $157.5 million from $91.9 million at 30 June 2025.

• Net cash inflow from financing activities was $66.4 million, driven by share issues and option exercises.

Outlook and guidance

• Mandilla Definitive Feasibility Study (DFS) targeted for completion by mid-2026, with Final Investment Decision expected in September 2026 quarter.

• First gold production from Mandilla targeted by end of 2027.

• Ongoing drilling and resource updates planned for 2026.