Ardea Resources (ARL) H2 2026 earnings summary

Executive summary

• Advanced the Goongarrie Hub Definitive Feasibility Study (DFS), with technical, engineering, and environmental workstreams maturing and value optimisation extending the DFS timeline.

• Achieved significant government recognition, including Lead Agency Status, Investor Front Door initiative selection, and Major Project Status renewal, highlighting strategic importance for critical minerals supply chains.

• Strengthened partnerships as Sumitomo Metal Mining and Mitsubishi Corporation increased their joint venture stake to 35%, and secured conditional, non-binding funding support of up to A$1 billion from Export Finance Australia and US EXIM.

• Raised A$5 million through placement and share purchase plan, bolstering the balance sheet.

Financial highlights

• Operating loss after income tax for FY2026 was $5.6 million, compared to $3.3 million in FY2025.

• Cash reserves at 30 June 2026 were $18.3 million, up from $14.6 million the previous year.

• Total assets increased to $172.0 million (2025: $125.4 million), with capitalised mineral exploration expenditure rising to $140.8 million.

• Net assets stood at $147.1 million, up from $67.6 million in FY2025.

• Basic and diluted loss per share was 7.11 cents (2025: 1.63 cents).

Outlook and guidance

• Priorities for FY2027 include completing the DFS, advancing environmental approvals, strengthening stakeholder engagement, and maintaining disciplined capital management.

• The Goongarrie Hub is positioned to play a key role in global critical minerals supply chains, with a focus on responsible development and long-term value creation.