Agrimin (AMN) Q4 2024 TU earnings summary

Executive summary

• Ongoing process testwork at Mackay Potash Project yielded successful flotation results, advancing project de-risking and design validation.

• Environmental Impact Assessment response resubmitted; assessment by Western Australian EPA commenced, with approval expected in H2 2024.

• Share Purchase Plan shortfall of $1.1 million completed; cash balance of $4.0 million as of 30 June 2024.

• Tali Resources regained 100% ownership of five exploration licences; Agrimin's 40% share in Tali's investments valued at $55 million.

Financial highlights

• Cash balance stood at $4.0 million at quarter end.

• $1.1 million raised via Share Purchase Plan shortfall placement.

• $1,032,000 incurred in exploration and evaluation expenditure during the quarter.

• Directors' and related parties' remuneration totaled $183,750 for the quarter.

Outlook and guidance

• Mackay Potash Project advancing toward Final Investment Decision, with ongoing FEED works, project funding, and strategic partnership discussions.

• EPA approval for Mackay Potash Project anticipated in the second half of 2024.

• Further process testwork planned for H2 2024 to optimise conversion and flotation stages.