Auric Mining (LWJ) H1 2024 earnings summary

Executive summary

• Achieved a net operating profit of $411,944 for the half-year ended 30 June 2024, reversing a prior year loss of $602,593.

• Adjusted profit, excluding share-based payments, was $1,362,807.

• Maintained a strong balance sheet with net current assets of $6,422,853.

• Operations focused on gold exploration, mining, and development, with key activities at Jeffreys Find, Munda, and Spargoville projects.

Financial highlights

• Revenue from gold sales at Jeffreys Find totaled $4,457,343, with 1,256 ounces sold at an average price of $3,549/oz.

• Profit after income tax was $411,944, compared to a loss of $602,593 in the same period last year.

• Basic earnings per share were 0.30 cents, up from a loss per share of 0.46 cents year-over-year.

• $1,245,039 invested in exploration and development during the half-year.

Outlook and guidance

• Mining operations at Jeffreys Find continue, aiming to surpass last year's production.

• The company is self-funding for 2024 due to strong cash generation from mining activities.

• Strategic focus remains on advancing exploration at Spargoville and Munda projects.