Caprice Resources (CRS) Q4 2024 TU earnings summary

Executive summary

• Completed acquisition of 90% of the Bantam Project, securing one of the largest landholdings in the West Arunta region, Western Australia.

• High-level desktop review identified multiple IOCG and carbonatite targets with strong prospectivity for niobium and rare earth elements (REE).

• Soil and rock chip sampling at Mukinbudin Project confirmed significant REO anomalism at Colosseum, Hadrian's, and Gadolin prospects.

• Appointment of Luke Cox as CEO to lead the next stage of development.

• Placement to raise $1.584 million to fund exploration and strengthen the balance sheet.

Financial highlights

• Net cash used in operating activities for the quarter was $155k; year-to-date $841k.

• Net cash used in investing activities was $1.063 million for the quarter, mainly due to project acquisition and exploration.

• Net cash from financing activities was $975k for the quarter, reflecting proceeds from equity placements.

• Cash and cash equivalents at quarter end were $886k.

• Estimated quarters of funding available: 4.6.

Outlook and guidance

• Exploration programs at Bantam Project under review following CEO appointment; AEM geophysical surveys postponed pending review and heritage agreement.

• Proceeds from placement to support exploration at Bantam, Mukinbudin, Northampton, and Murchison projects.