Falcon Metals (FAL) Q2 2026 TU earnings summary

Executive summary

• Advanced step-out drilling at Blue Moon Gold Project revealed high-grade gold intercepts, extending mineralisation 200m along strike with visible gold in multiple holes.

• Regional aircore drilling commenced at Pyramid Hill Gold Project, targeting priority areas for infill and reconnaissance.

• Surface sampling at Errabiddy Gold Project refined targets for an upcoming RC drilling program, pending heritage survey completion.

Financial highlights

• Cash balance at quarter end was A$22.4 million.

• Net cash outflow from operating activities was A$2.1 million for the quarter, mainly due to A$2.0 million spent on exploration and evaluation.

• Interest income on cash deposits totaled A$0.2 million.

Outlook and guidance

• Ongoing 24/7 drilling at Blue Moon with two diamond rigs, with further step-out holes planned to test up to one kilometre of strike.

• First ever RC drilling at Errabiddy’s Olsen Well target is planned for the first half of 2026, subject to heritage survey.

• Aircore drilling at Pyramid Hill expected to take approximately three months to complete.