Golden Horse Minerals (GHM) Q1 2026 TU earnings summary

Executive summary

• Advanced flagship Southern Cross Gold Project with over 34km of drilling completed in Q1 2026, focusing on Hopes Hill Main, North, and South zones.

• Significant high-grade gold intercepts reported, including 16.0m @ 6.8g/t Au and 7.0m @ 13.0g/t Au, confirming large-scale, continuous mineralisation.

• Regional exploration at Hakes Find, Marionete, and Star of Ennuin completed over 6,700m of RC drilling, targeting extensions of high-grade zones.

• Entered June quarter with ~$39.3 million cash, supporting an aggressive exploration strategy.

Financial highlights

• Cash on hand at 31 March 2026 was approximately $39.3 million.

• Payments to related parties during the quarter totaled $194k for director salaries and fees.

• Actual use of funds since ASX admission matches prospectus estimates, with $18 million deployed as planned.

Outlook and guidance

• Over 125km of drilling planned for CY2026, with multiple rigs operating and a substantial pipeline of assay results expected in the coming months.

• Focus remains on expanding and defining high-grade zones at Hopes Hill and progressing regional targets.

• Ongoing rationalisation of lower-priority tenements to streamline operations and reduce costs.