Silver Mines (SVL) H1 2026 earnings summary

Executive summary

• Recorded a net loss of $1.75 million for the half-year ended 31 December 2025, an improvement from a $2.03 million loss in the prior corresponding period.

• Significant exploration and development expenditure of $13.44 million, mainly advancing the Bowdens Silver Project and regional projects in NSW and California.

• No dividends declared or paid during the period.

Financial highlights

• Revenue increased to $216,879 from $65,057 year-over-year; total segment revenue $231,309.

• Net assets rose to $197.1 million from $157.1 million as of June 2025.

• Cash and cash equivalents at period end were $40.5 million, up from $19.3 million at June 2025.

• Loss per share improved to (0.08) cents from (0.13) cents year-over-year.

Outlook and guidance

• Focus remains on securing Bowdens Silver Project development consent and progressing engineering studies.

• Updated biodiversity assessments for Bowdens expected by mid-2026, with redetermination of development application anticipated thereafter.

• Drilling at Calico North and Kramer Hills projects in California expected to commence in the first half of 2026.