S2 Resources (S2R) Q3 2025 TU earnings summary

Executive summary

• Multiple exploration programs advanced across Australia and Finland, with significant geophysical surveys and drilling completed at key gold and base metal projects.

• Assay results from recent drilling at Fosterville and Yeungroon expected in the coming months.

• New joint ventures and earn-in agreements expand exploration footprint in Victoria and New South Wales.

Financial highlights

• Cash at bank at quarter end was A$2.2 million.

• Quarterly operating outflows totaled A$1.3 million, mainly for exploration and evaluation.

• Net cash outflow from operating activities for the quarter was A$1.26 million.

• Valkea Resources shareholding valued at A$3.2 million; Trinex Minerals shareholding valued at A$38k.

• Estimated quarters of funding available: 1.75, with plans to reduce outflows in future quarters.

Outlook and guidance

• Planned expenditure for the next quarter is approximately A$1 million.

• Company expects negative operating cash flows to continue but at a lower level than recent quarters.

• Sufficient funding projected for at least the next two quarters; additional funding options under consideration.