Ausgold (AUC) H1 2025 earnings summary

Executive summary

• Focused on advancing the Katanning Gold Project (KGP) with a Feasibility Study underway, targeted for completion in Q2 CY2025.

• Significant exploration and drilling programs at KGP and regional prospects, with positive gold intercepts reported.

• Raised $24 million via institutional placement and completed a share consolidation during the half-year.

• Board and management changes, including new CFO and COO appointments.

Financial highlights

• Net loss of $6.3 million for the half-year ended 31 December 2024, compared to $1.5 million loss in the prior year period.

• Cash and cash equivalents increased to $18.7 million at 31 December 2024 from $5.0 million at June 2024.

• Share-based payments expense rose to $853,221 from $122,448 year-over-year.

• Working capital surplus of $17.6 million at period end, up from $1.7 million at June 2024.

Outlook and guidance

• Feasibility Study for KGP on track for Q2 CY2025 completion, supporting a final investment decision by end of 2025.

• Ongoing exploration and drilling to expand resource base and de-risk early mining inventory.

• Directors confident in ability to secure further funding and maintain positive cash position through at least February 2026.