Unico Silver (USL) H2 2026 earnings summary

Executive summary

• FY26 marked a pivotal year with significant growth in exploration, resource base, development readiness, and funding, positioning the company for transition from exploration to development.

• Combined JORC Mineral Resource increased to approximately 330 million ounces of silver equivalent across Joaquin and Cerro Leon, supporting a maiden feasibility study.

• The company raised about $75 million through placements and a share purchase plan, ending the year with $55 million in cash.

• Strategic land acquisition and expanded North American market access further de-risked the development pathway.

Financial highlights

• Loss after income tax for FY26 was $6.0 million, compared to a $1.2 million loss in the prior year, mainly due to higher expenses and lower investment income.

• Cash and cash equivalents at year-end were $55.1 million, up from $12.5 million the previous year.

• Capitalised exploration and evaluation assets rose to $98.7 million from $67.2 million year-over-year.

• Share-based payment expense increased to $3.1 million from $1.2 million.

• Basic and diluted loss per share was (1.06) cents, compared to (0.38) cents in FY25.

Outlook and guidance

• FY27 priorities include delivering the maiden Joaquin Pre-Feasibility Study, advancing permitting and RIGI qualification, completing the La Mata land acquisition, expanding resources, and progressing toward a maiden Ore Reserve.

• The company is well-funded to execute its development strategy and capitalize on Argentina’s improving mining investment climate.