Astral Resources NL (AAR) H2 2024 earnings summary

Executive summary

• Focused on advancing the Mandilla and Feysville Gold Projects in Western Australia, with significant drilling and resource definition completed at both sites during FY2024.

• Mandilla Scoping Study released, indicating robust project economics with a pre-tax NPV (8%) of A$442 million and IRR of 73% at a gold price of A$2,750/oz.

• Total consolidated JORC 2012 Mineral Resource Estimate stands at 1.38Moz Au across Mandilla and Feysville.

• Net loss for FY2024 was $2.58 million, an improvement from the prior year’s $3.71 million loss.

• Raised $11.6 million in equity during the year, with a further $25 million placement announced post-year-end to fund through to Final Investment Decision.

Financial highlights

• Revenue from continuing operations was $24,063 (FY2023: $13,410).

• Net loss attributable to owners was $2,583,863 (FY2023: $3,713,941).

• Cash and cash equivalents at 30 June 2024 were $5.77 million (FY2023: $1.32 million).

• Net assets increased to $34.5 million (FY2023: $25.5 million).

• Exploration and evaluation expenditure capitalised during the year was $4.36 million.

Outlook and guidance

• Updated Mandilla Mineral Resource Estimate (MRE) targeted for completion by end of 2024.

• Mandilla Pre-Feasibility Study underway, expected in H1 2025.

• Feysville MRE update, including maiden resources for Kamperman and Rogan Josh, expected early October 2024.

• Ongoing exploration and evaluation at both Mandilla and Feysville, with significant drilling planned.