Talisman Mining (TLM) Q2 2026 TU earnings summary

Executive summary

• Completed 2,229m aircore drilling at Sheepyard Prospect (Walkers Hill Gold Project) and 933m diamond drilling at Yarindury East (Yarindury Porphyry Copper-Gold Project); assay results pending for both programs.

• Continued focus on high-priority gold and copper-gold targets in NSW, with ongoing exploration and geophysical surveys.

• Received $1.37 million in royalty payments from the Wonmunna Iron Ore Project for the quarter.

• Cash balance at 31 December 2025 was $4.03 million.

Financial highlights

• Quarterly royalty receipts from Wonmunna Iron Ore Project totaled $1.369 million, reflecting moderating ore volumes and favorable iron ore prices.

• Exploration and evaluation expenditure for the quarter was $0.995 million, focused on Lachlan and Macquarie Arc projects.

• Payments to related parties (directors’ fees) amounted to $156,000 for the quarter.

• Net cash used in operating activities was $(125,000); net cash from investing activities was $100,000; net cash used in financing activities was $(17,000).

• Cash and cash equivalents at quarter end were $4.03 million.

Outlook and guidance

• Assay results from Sheepyard aircore drilling expected in late January 2026; Yarindury East diamond drilling results expected in March quarter 2026.

• Royalty payments from Wonmunna Iron Ore Project expected to wind down from March quarter 2026 as production transitions to Lamb Creek.

• Ongoing review of new mineral growth opportunities in Australia and internationally, with a focus on value-accretive transactions.