Caprice Resources (CRS) H2 2024 earnings summary

Executive summary

• Mineral exploration and evaluation remained the core activity, with no significant change in operations during the year.

• Major board changes occurred, including new appointments and resignations among directors and the CEO.

• The company expanded its project portfolio, notably acquiring a 90% interest in the Bantam Project and enlarging its West Arunta footprint.

Financial highlights

• Net loss after tax for FY2024 was $1,550,309, compared to $1,226,891 in FY2023.

• Total expenses increased to $1,563,527 from $1,242,410 year-over-year.

• Cash and cash equivalents at 30 June 2024 were $885,583, up from $685,771 at 30 June 2023.

• Share capital increased to $20,632,560 following new share issues and project acquisitions.

Outlook and guidance

• The company expects to continue exploration and evaluation activities, with further developments dependent on successful capital raising and exploration outcomes.

• Directors believe future funding will be available to meet objectives, but acknowledge material uncertainty regarding going concern due to reliance on additional capital.