Austin Metals (AYT) Q4 2024 earnings summary

Executive summary

• Advanced exploration at Ashburton Copper-Gold Project with high-grade rock chip and trench results, including up to 9.7g/t Au and 14.7% Cu.

• Target generation and planning for RC drilling at Austin Gold Project, adjacent to a major $210M acquisition.

• Ongoing exploration planning at Broken Hill Project and significant ground holding in the Murchison region.

Financial highlights

• Net cash outflow from operating activities was $88k for the quarter ended 30 June 2024.

• Net cash outflow from investing activities, mainly exploration and evaluation, totaled $340k.

• $234k raised from equity placement to directors, with total financing inflow of $219k after costs.

• Cash and cash equivalents at quarter end were $1.34M, down from $1.55M in the previous quarter.

Outlook and guidance

• RC drilling campaigns at Ashburton and Austin Projects planned for late Q3 2024, pending approvals.

• Funds raised will support exploration, business development, and working capital.