Cosmos Exploration (EAU) Q4 2024 TU earnings summary

Executive summary

• Acquired an 80% interest in the Fenix Uranium Project and staked 100% claims on Angilak West and Nut Lake South in Nunavut, expanding presence in a high-grade uranium district.

• Awarded a $100,000 co-funded drilling grant for the Leatherback REE Prospect at Byro East, WA.

• Completed a desktop review of Corvette Far East and Lasalle projects, deciding not to pursue exploration this season.

Financial highlights

• Raised $860,672 via a two-tranche placement at a 5.9% discount to pre-halt trading price; $611,672 issued in Tranche 1, $270,000 pending shareholder approval for Tranche 2.

• Additional $150,000 committed by directors, subject to shareholder approval.

• Cash held at 30 June 2024 was $693,000.

• Net cash used in operating activities for the quarter was $554,000; $128,000 paid to related parties.

• Estimated 1.25 quarters of funding available at current cash burn rate.

Outlook and guidance

• Prospecting activities to commence in July at Fenix, Angilak, and Nut Lake South, focusing on evaluating previous results and new structures.

• Company expects similar cash flows next quarter and is seeking shareholder approval for an additional $420,000 in funding.

• Confirms ability to continue operations and meet objectives based on current and anticipated funding.