Carnaby Resources (CNB) H2 2026 earnings summary

Executive summary

• Advanced the Greater Duchess Copper Gold Project, completing key acquisitions and consolidating 100% ownership of core assets.

• Released a Pre-Feasibility Study (PFS) outlining a 12-year mine life, strong financial metrics, and a maiden Probable Ore Reserve.

• Significant exploration success at Trekelano and Mount Hope, including new high-grade discoveries and resource extensions.

• Entered into a binding agreement post-year-end for acquisition by Evolution Mining Limited, offering shareholders a substantial premium.

Financial highlights

• Net loss after tax for FY26 was $9.53 million, compared to a $7.39 million loss in FY25.

• Net assets increased to $44.3 million from $36.3 million year-over-year.

• Cash and financial assets at year-end totaled $10.76 million, down from $15.81 million in FY25.

• No dividends declared or paid during the year.

Outlook and guidance

• Ongoing exploration and development to continue under the budget agreed with Evolution Mining.

• Feasibility Study finalization deferred pending completion of the Evolution transaction, with critical workstreams maintained.