KGL Resources (KGL) Q4 2026 TU earnings summary

Executive summary

• Secured full funding for the Jervois Copper-Silver-Gold Project through to production, with no project debt and unencumbered copper offtake.

• Achieved a US$300 million streaming agreement and A$300 million equity raising, providing A$689 million in aggregate funding and a A$351 million cost overrun facility.

• Baseline Economic Model confirms compelling project economics with strong margins and high-grade copper production.

Financial highlights

• Baseline Economic Model forecasts pre-tax NPV8 (real) of A$1.226 billion and post-tax NPV8 (real) of A$839 million.

• Project IRR (post-tax) is 30.5% with a simple payback period of 3.1 years.

• Life-of-mine operating cash flow (pre-tax) estimated at A$3.2 billion and free cash flow (after tax) at A$1.8 billion.

• Current cash and cash equivalents as at 30 June 2026 were A$25.43 million.

Outlook and guidance

• Focus has shifted from financing to execution, with priorities including finalising EPC and mining contracts, approving FID, and commencing construction in Q3 CY2026.

• First copper concentrate targeted for 2028, with full processing capacity expected in H2 CY2028.

• A$20 million exploration program funded for near-mine growth, mine-life extension, and regional expansion.