Antipa Minerals (AZY) Q4 2026 TU earnings summary

Executive summary

• Delivered a significant upgrade to the Mineral Resource Estimate (MRE) at the Minyari Gold-Copper-Silver Project, now totaling 69Mt at 1.33 g/t gold for 3.6 Moz AuEq, with 2.9 Moz gold, 91 kt copper, 880 koz silver, and 13 kt cobalt.

• Commenced a major 41,000m drilling campaign targeting both resource growth and new discoveries, with initial results extending Fiama North mineralisation.

• Advanced the Minyari Dome Pre-Feasibility Study (PFS) across technical, environmental, regulatory, heritage, commercial, and financing workstreams.

Financial highlights

• Cash and cash equivalents at 30 June 2026 were A$39.1 million, with zero debt.

• Approximately A$8.0 million was expended on exploration activities during the quarter.

• 280,000 ESOP options exercised for proceeds of A$54,600; 2.5 million options expired unexercised.

• 847,043 placement and rights issue options exercised in July 2026 for A$169,000.

Outlook and guidance

• Ongoing reporting of assay results from the 41,000m Phase 1 drilling programme.

• Continued diamond and RC drilling at GEO-01 Main Zone and Tim's Dome, with planned diamond drilling at Mollie.

• PFS technical workstreams expected to complete in Q3 CY2026, with outcomes to be released shortly thereafter.