S2 Resources (S2R) H1 2026 earnings summary

Executive summary

• Achieved a net profit of $12.3 million for the half year ended 31 December 2025, reversing a prior year loss of $3.85 million, primarily due to a $16.45 million gain from the sale of an exploration licence.

• Principal activity remains mineral exploration, with significant focus on Australian projects.

• No dividends were paid or proposed for the period.

Financial highlights

• Revenue from gain on sale of exploration licence: $16.45 million.

• Exploration expenditure expensed: $1.99 million; administration and business development costs: $807,291.

• Cash and cash equivalents at period end: $22.79 million, up from $3.79 million at 30 June 2025.

• Basic and diluted earnings per share: 2.41 cents, compared to a loss of 0.85 cents per share in the prior period.

Outlook and guidance

• Entered into an agreement post-period to earn up to 75% interest in the Loch Lilly-Kars project in New South Wales, with staged expenditure commitments.