Torque Metals (TOR) H1 2026 earnings summary

Executive summary

• Loss for the half year ended 31 December 2025 was $694,986, a significant improvement from the prior period loss of $1,596,617, mainly due to lower corporate and administrative expenses.

• Principal activities focused on mineral exploration, with continued drilling at the Paris Gold Project and use of downhole electromagnetic surveys.

• Major corporate activities included a $15 million share placement and $4.33 million raised from option exercises.

Financial highlights

• Revenue from other income was $65,593, down from $140,729 year-over-year.

• Net loss for the period was $694,986, compared to a loss of $1,596,617 in the prior year.

• Cash and cash equivalents increased to $16,018,928 from $3,389,305 at 30 June 2025.

• Exploration and evaluation assets rose to $60,628,205 from $55,170,550 at 30 June 2025.

• Net assets increased to $74,702,545 from $57,244,588 at 30 June 2025.

Outlook and guidance

• Ongoing aggressive drilling programs are planned, with the need for additional working capital in the next 12 months to advance exploration projects.

• Directors are confident in the ability to raise further equity if required, but note a material uncertainty regarding going concern if additional funds are not secured.