Brockman Mining (159) Q4 2024 TU earnings summary

Executive summary

• Advanced Marillana Project with MinRes, focusing on infrastructure and approvals for export via Port Hedland.

• Joint Venture with Hancock and Roy Hill progressing new port development at Stanley Point 3.

• Continued planning for follow-up drilling at Punda Springs after positive initial results.

Financial highlights

• Cash and cash equivalents at 30 June 2024 totaled HK$4.6 million, down from HK$8.3 million at previous quarter end.

• Net cash used in operating activities for the quarter was HK$3.8 million; year-to-date outflow was HK$19.6 million.

• Net cash from investing activities was HK$1.5 million for the quarter.

• Net cash from financing activities was HK$6.3 million for the quarter.

Outlook and guidance

• Marillana Project development contingent on final investment decision and regulatory approvals for new port facility.

• Sufficient port capacity allocated for Marillana Project, pending further consents and engineering studies.

• Estimated available funding of HK$31.9 million, providing approximately 8.4 quarters of operational runway.