WA1 Resources (WA1) Q3 2026 TU earnings summary

Executive summary

• Infill and extension drilling at the Luni Niobium Project returned high-grade intersections, supporting resource confidence and potential expansion beyond the current Mineral Resource Estimate (MRE) envelope.

• All data inputs for an updated MRE have been received, with the update expected in the June quarter to inform project development and permitting.

• Site activities resumed in January 2026 after a pause, focusing on development studies, permitting, and community engagement initiatives.

Financial highlights

• Cash balance at 31 March 2026 was approximately $131 million.

• Quarterly expenses totaled $5.67 million for exploration and evaluation, and $2.05 million for development activities.

• Payments to related parties and associates for the quarter were $356,000.

• Net cash outflow from investing activities for the quarter was $7.72 million.

• Estimated quarters of funding available is 26.84, indicating strong liquidity.

Outlook and guidance

• Updated MRE for Luni expected in the June quarter, targeting increased confidence in high-grade zones.

• Drilling to recommence in coming weeks, focusing on metallurgical, resource definition, and geotechnical workstreams.