Alma Metals Limited (ASX:ALM)

Alma Metals Limited’s quarterly activities and Appendix 5B cash flow report for the quarter ended 30 September 2026 focused on advancing the Briggs Copper Project in Queensland, where a major core drilling program to support the pre-feasibility study continued with 14 holes completed for 5,002.8m by the report date, including 13 infill holes within the mineral resource estimate and one exploration hole outside the current resource that was extended to 522m; assays received from the first eight holes showed broad copper intersections including 383.8m at 0.25% Cu from 10.2m in hole 26BRD0042 and 386.6m at 0.20% Cu from 43.0m in hole 26BRD0046, with some holes also returning elevated molybdenum, supporting Alma’s aim to convert much of the inferred resource to indicated status and potentially expand the resource, while metallurgical work continued on copper and molybdenum recovery and environmental baseline preparations for project approvals progressed; Alma noted no work was undertaken during the quarter at East Kimberley, and at 30 September 2026 the company had 2.6348 billion shares and 57 million options on issue, cash of $1.15 million, ASX-listed investments valued at about $3.3 million, and no debt, while the Appendix 5B reported net cash used in operating activities of $2.3 million, net cash used in investing activities of $114,000, exploration and evaluation expenditure of $1.984 million, related-party payments of $159,000, and estimated funding of 0.5 quarters based on quarter-end cash, with the company stating expected reduced drilling over Christmas/New Year, liquid listed investments, and access to equity markets would support ongoing operations.