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Black Rock Mining (BKT) investor relations material
Black Rock Mining Q1 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Raised A$10 million via placement and A$4 million through an oversubscribed Share Purchase Plan to fund the Early Works Program at Mahenge Graphite Project while finalizing project financing.
Groundbreaking ceremony for Mahenge held in October 2025, attended by Tanzanian government officials, POSCO representatives, and the Korean Ambassador, signaling strong stakeholder support.
Early Works Program commenced post-quarter, including construction activities and site earthworks to enable rapid project ramp-up upon full funding and Final Investment Decision.
Financial highlights
Cash at bank was A$3.6 million as of 30 September 2025, excluding A$9.5 million in proceeds from the placement and SPP received post-quarter.
Net cash used in operating activities for the quarter was A$2.17 million; net cash used in investing activities was A$0.58 million.
Net cash from financing activities was A$4.22 million, reflecting the equity raise.
Payments to related parties during the quarter totaled A$205,555.
Outlook and guidance
Construction activities for the Early Works Program are expected to ramp up in late October 2025, with contractor selection underway.
The company expects increased net operating cash flows in the next quarter due to the recent equity raise and commencement of the Early Works Program.
Ongoing efforts to secure full project funding, including a binding subscription agreement for POSCO's US$40 million equity investment and a US$204 million facilities agreement with DBSA, IDC, and CRDB.
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