Artemis Resources (ARV) H2 2026 earnings summary

Executive summary

• Undertook a major leadership and strategic renewal, focusing on high-potential exploration assets and rationalising non-core holdings.

• Exploration concentrated on West Pilbara (gold/copper) and Madura (copper/gold) provinces, with significant drilling and resource extension at Titan East and Carlow.

• Strengthened financial position through an $8 million placement, enabling expanded exploration programs.

Financial highlights

• Reported a net loss after tax of $8.8 million for FY26 (FY25: $6.3 million), including a $5.2 million non-cash write-off of exploration expenditure.

• Cash and cash equivalents at year-end were $3.4 million (FY25: $1.15 million), with a working capital surplus of $2.5 million.

• No revenue generated from mining operations; financial performance driven by exploration, evaluation, and corporate costs.

• Net cash inflow for the year was $2.3 million (FY25: $0.58 million), reflecting successful capital raisings.

Outlook and guidance

• Focus remains on advancing exploration at priority projects in Pilbara and Madura, with maiden drilling at Cassowary expected in H2 2026.

• Ongoing assessment of Radio Hill asset for potential processing agreements and exploration upside.

• Additional capital raising post-year-end ($5.1 million) to support continued exploration and working capital.