CZR Resources (CZR) H1 2025 earnings summary

Executive summary

• Report covers the half-year ended 31 December 2024 for CZR Resources Ltd, a Western Australia-focused mineral exploration and development company with five projects, primarily in joint venture with Creasy Group.

• The company’s main asset is the Robe Mesa iron ore deposit, with a DFS completed in October 2023 targeting 3.5–5 Mtpa production over 8 years.

• A $102 million sale of the Robe Mesa project to Miracle Iron Resources was agreed in January 2024 but terminated in February 2025 after delays in regulatory approval.

• CZR is progressing other exploration projects, including Croydon (gold/lithium), Buddadoo (vanadium/titanium/copper), and Yarrie (iron ore).

Financial highlights

• Net loss after tax of $15,979,597 for the half-year ended 31 December 2024, compared to a net profit after tax of $12,203,410 for the same period last year.

• Basic loss per share was 6.76 cents, compared to a profit of 5.18 cents per share year-over-year.

• Cash and cash equivalents at 31 December 2024 were $99,005, down from $588,832 at 30 June 2024.

• Net cash outflows from operating activities were $1,825,844, compared to $1,654,822 in the prior period.

• Total assets at period end were $14,285,899, with net assets of $11,193,855.

Outlook and guidance

• The company continues to seek financing or partnership solutions for Robe Mesa after the failed sale.

• Ongoing exploration and development activities are planned for Croydon, Buddadoo, and other projects, subject to funding.

• Directors believe sufficient cash is available for ongoing operations, with further funding expected through debt or equity.