Antipa Minerals (AZY) H1 2025 earnings summary

Executive summary

• Net loss for the half-year ended 31 December 2024 was A$4.66 million, a 255% increase year-over-year, primarily due to a loss on disposal of the Citadel JV interest and higher share-based payments.

• Cash and cash equivalents rose to A$36.48 million, up 354% from 30 June 2024, following the A$17 million Citadel JV sale and a successful A$16 million placement.

• The Minyari Dome Project Mineral Resource Estimate increased by 33% to 2.3Moz gold, with a 53% upgrade from Inferred to Indicated resources.

• Updated Scoping Study for Minyari Dome reaffirmed technical and financial viability, with a post-tax NPV7% of A$598 million and IRR of 46% at a gold price of A$3,000/oz.

Financial highlights

• Revenue for the half-year was A$172,283, down from A$353,945 year-over-year.

• Net loss after tax was A$4,661,495, compared to A$1,299,357 in the prior period.

• Cash and cash equivalents at period end were A$36,476,480, up from A$8,037,317 at 30 June 2024.

• Net assets increased to A$92,477,587 from A$78,653,901 at 30 June 2024.

• Loss per share was (0.10) cents, compared to (0.03) cents year-over-year.

Outlook and guidance

• Additional drilling at Minyari Dome, GEO-01, Fiama, and Minyari South is planned for H1 CY2025 to expand resources.

• The Paterson and Wilki projects will continue exploration, with the Paterson project fully funded by IGO and Wilki now 100% owned after Newmont's withdrawal.

• Ongoing evaluation of the Minyari Plunge Offset Target and further resource growth opportunities at Minyari Dome.