Warriedar Resources (WA8) Q1 2026 TU earnings summary

Executive summary

• Significant high-grade gold and antimony intercepts were reported at the Ricciardo Ardmore pit, with drilling confirming mineralisation continuity and resource growth potential.

• Gold mineralisation was extended at Windinne Well and M1, with notable intercepts outside current resource estimates, supporting further resource expansion.

• A transformational transaction was agreed with Capricorn Metals, with an increased offer for Warriedar shares and options, unanimously recommended by the board.

Financial highlights

• Cash balance at 30 September 2025 was A$19.0 million, with no debt apart from usual creditor balances.

• Exploration and evaluation expenditure for the quarter was A$6.08 million.

• Payments to related parties totaled A$231,000 for the quarter.

• Net cash used in operating activities for the quarter was A$7.09 million.

• Proceeds from equity issues were A$1.75 million, with net cash at period end of A$19.0 million.

Outlook and guidance

• Ongoing drilling at Ricciardo and other Golden Range deposits aims to further expand gold and antimony resources.

• The board recommends securityholders vote in favor of the Capricorn acquisition, with the transaction expected to close pending approvals.