Summary:

• Revenue rose 41.4% year-on-year to US$18.38 million in 3Q FY2026, lifting 9M FY2026 revenue 32.7% to US$50.81 million, driven by higher average realised iron ore prices and increased sales volumes into Malaysia and China​

• Gross profit jumped 66.4% to US$12.08 million in the quarter, with 3Q gross margin expanding to about 65.7%, while 9M gross profit grew 18.6% to US$29.23 million despite higher mining and logistics costs​

• Quarterly profit after tax surged more than sixfold to US$4.48 million (3Q FY2025: US$0.74 million), taking 9M FY2026 profit after tax up 17.6% to US$8.93 million and pushing basic EPS to 0.85 US cents for the quarter and 1.70 US cents for the nine months​

• Selling and distribution expenses nearly doubled in 3Q to US$2.34 million and rose 47.4% in 9M to US$6.41 million, reflecting higher freight, handling and commission costs as the Group ramped exports and managed logistics amid tight shipping conditions​

• Other operating expenses and upkeep costs increased on maintenance, royalties and vehicle/machinery spending, but finance costs fell 21.2% to US$0.38 million over 9M as borrowings stayed modest and lease liabilities declined​

• Total assets climbed to US$120.3 million as at 30 November 2025 (from US$103.2 million at end-February), driven by higher mining properties (US$45.7 million), plant and equipment (US$25.7 million) and exploration and evaluation assets (US$7.84 million) as the Group continued to invest in its mines and the Mengapur project​

• Net cash position remained solid with cash and bank balances of US$10.24 million, low bank borrowings of US$9.15 million and total equity up to US$90.82 million, implying a conservative capital structure and ample headroom to fund further expansion​

• Operating cash flow stayed healthy at US$9.52 million for 9M FY2026, comfortably funding US$7.11 million of net investing outflows (exploration, mining properties, plant, equipment and an associate stake) and US$0.46 million of net financing outflows, including US$1.87 million in dividends​

• Management reiterated confidence in the long-term outlook for steel and iron ore demand in the region and is pressing ahead with disciplined growth: adding mining properties, upgrading fleets and infrastructure, and progressing the Mengapur polymetallic project while monitoring market and price volatility​