Highlights

• Koonenberry Gold which explores for gold and copper in New South Wales, has released its quarterly report for.

• At Wilga Flats, on the Olaf's Trend target, a four-hole reverse circulation and diamond programme aimed at epithermal.

• In a separate announcement, Koonenberry said it intends to become Gilmore Metals Limited and has reserved the ASX.

• The quarterly report itself did not mention the name change, so the two documents should be read together.

Koonenberry Gold (ASX:KNB) — which explores for gold and copper in New South Wales, has released its quarterly report for the period ended 30 September 2026. The company said it drilled seven holes at its Dunedoo project and nine holes at the Junee joint venture during the quarter, with laboratory results for both expected in the December quarter. On the same morning it also announced a proposal to change its name to Gilmore Metals Limited.

Drilling at Dunedoo, Wilga Flats and Junee

At Dunedoo, Koonenberry drilled seven holes totalling 1,412.95 metres. The company said visual observations point to porphyry and epithermal-style alteration, but no assay results have been reported. Visual estimates are not a substitute for laboratory analysis, and assays are expected in the early part of the December quarter.

At Wilga Flats, on the Olaf's Trend target, a four-hole reverse circulation and diamond programme aimed at epithermal gold began late in the quarter. No results were reported.

At the Junee joint venture, nine holes were drilled at the Allawah target. The programme is fully funded by Newmont, and Koonenberry holds a 20% free-carried interest. The company said results are expected in the December quarter.

Cash and funding

Koonenberry reported cash of $4.35m at 30 September 2026, with no debt. Operating cash outflow for the quarter was $907,000, and exploration spending was about $0.55m. The company's own estimate puts funding at about 3.0 quarters at the current rate of spending.

A placement announced in July was priced at $0.02 per share and managed by Morgans. The report cites $4.0m before costs at one point and $3.75m for the completed placement at another, an inconsistency within the document. Directors' participation of up to $225,000 is subject to shareholder approval at the November 2026 annual general meeting. The company has about 1,027 million shares on issue.

Gundagai acquisition and management changes

The company completed its acquisition of the Gundagai project on 10 August 2026. Consideration was paid entirely in shares, with no cash component, and the shares are subject to 12-month voluntary escrow. The acquisition brings four granted licences, and initial field work is planned for the December quarter.

On the management side, Dan Power ceased as Managing Director on 31 August 2026. His duties are now shared between Executive Chairman Paul Harris and Executive Technical Director Darren Glover.

Proposed name change

In a separate announcement, Koonenberry said it intends to become Gilmore Metals Limited and has reserved the ASX code GLM. The change is a proposal rather than a completed event. It requires shareholders to pass a special resolution at the annual general meeting scheduled for 30 November 2026, as well as ASX confirmation of the new code and an alteration of the company's registration by the Australian Securities and Investments Commission. No effective date has been stated.

The quarterly report itself did not mention the name change, so the two documents should be read together. The 30 November 2026 meeting date is consistent with the quarterly report's November reference.

Risks and next steps

As an explorer with no reported resource at the projects described, Koonenberry depends on drilling success and on raising further funds. With roughly three quarters of funding at the current spending rate, and director participation in the July placement still awaiting approval, the company's funding position will be an area to follow. Exploration results are inherently uncertain, and none of the work described amounts to a mineral resource.

The confirmed next milestones are the assay results from Dunedoo and the Junee joint venture, continued drilling at Wilga Flats, first field work at Gundagai in the December quarter, and the annual general meeting on 30 November 2026, where the name change and director participation will be put to shareholders.