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Zeta Resources (ZER) investor relations material

Zeta Resources H2 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H2 2024 earnings summary26 Sep, 2024

Executive summary

  • Net loss for the year ended 30 June 2024 was US$33.1 million, driven by unrealised investment losses and lower portfolio valuations compared to a US$4.3 million loss in 2023.

  • Investments at fair value decreased to US$61.5 million from US$111.4 million year-over-year; cash and cash equivalents rose to US$12.5 million.

  • No dividends were declared or paid during the year.

  • Major shareholders (UIL and GPLPF) holding 95% of shares are considering compulsory acquisition of remaining shares post year-end.

Financial highlights

  • Revenue was US$70,035; investment losses totaled US$31.3 million, mainly from unrealised fair value losses.

  • Realised gains on sales were US$2.4 million; unrealised losses on investments were US$33.5 million.

  • Basic and diluted loss per share was US$0.06, compared to US$0.01 in the prior year.

  • Cash flows from investing activities were positive at US$22.7 million, while operating activities used US$2.5 million.

  • Share buybacks led to a reduction in share capital and share premium.

Outlook and guidance

  • Directors believe the company can meet its commitments for at least 12 months and continue as a going concern.

  • No material uncertainties identified regarding going concern status.

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Frequently asked questions

Zeta Resources Limited is a Bermuda-based investment holding company focused on the acquisition and development of resource assets. The company primarily invests in companies within the natural resources sector, including oil and gas, gold, copper, nickel, and other minerals. Zeta Resources seeks to enhance the value of its portfolio by managing and supporting its investee companies, which are located across various regions globally. Zeta Resources Limited is headquartered in Hamilton, Bermuda, and its shares are listed on the ASX.

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