PMET Resources Inc. (ASX:PMT) has released its unaudited condensed interim consolidated financial statements for the three and six-month periods ended September 30, 2026, disclosing a comprehensive loss of C$4,533,000 for the six-month period, with total assets rising to C$512,007,000 from C$491,931,000 at March 31, 2026.

Key Points

  • Comprehensive loss of C$4,533,000 for the six months ended September 30, 2026, compared with C$2,393,000 in the prior corresponding period
  • Cash and cash equivalents of C$168,921,000 as at September 30, 2026, down from C$174,227,000 at March 31, 2026
  • Exploration and evaluation assets increased to C$293,755,000 from C$249,063,000 at March 31, 2026
  • Total equity of C$440,798,000 as at September 30, 2026, with 185,942,801 shares on issue

Six-Month Financial Results to September 30, 2026

Total general and administrative expenses for the six months ended September 30, 2026 were C$12,993,000, compared with C$9,817,000 in the prior corresponding period. Share-based compensation was the largest component at C$5,384,000, followed by salaries, benefits and management fees of C$2,555,000, and professional and consulting fees of C$2,230,000. Other income items included flow-through premium income of C$9,538,000 and interest income of C$2,450,000. After a deferred income tax expense of C$4,712,000, the net loss for the six-month period was C$4,522,000, equating to a basic and diluted loss per share of C$0.02.

Balance Sheet Position as at September 30, 2026

Total assets were C$512,007,000 at September 30, 2026, compared with C$491,931,000 at March 31, 2026. Current assets totalled C$177,776,000, comprising cash and cash equivalents of C$168,921,000, receivables of C$6,071,000, and prepaid expenses, deposits and others of C$2,784,000. Non-current assets included exploration and evaluation assets of C$293,755,000 and property and equipment of C$40,130,000. Total liabilities were C$71,209,000, including a flow-through premium liability of C$17,253,000 and deferred income taxes of C$28,198,000. Total equity stood at C$440,798,000.

Equity Movements and Share Issuances During the Period

During the six months ended September 30, 2026, the company issued 2,095,745 shares for cash proceeds of C$11,862,000 and 8,411 shares in lieu of compensation valued at C$38,000. Performance share unit settlements resulted in the issue of 16,331 shares, while restricted share unit settlements produced 19,439 shares. Share-based compensation of C$8,373,000 was recognised in reserves during the period. Total shares on issue moved from 183,802,875 at March 31, 2026 to 185,942,801 at September 30, 2026. The financial statements were approved on behalf of the Board on November 12, 2026, and signed by directors Ken Brinsden and Brian Jennings.