Emmerson Resources (ERM) H2 2024 earnings summary

Executive summary

• Focused on high-grade gold and copper exploration in Tennant Creek (NT) and Macquarie Arc (NSW), with a growing royalty business model and strategic joint ventures to advance discoveries.

• Major progress in resource definition, including maiden Mineral Resource Estimates (MREs) for Golden Forty and Eldorado, and the first Ore Reserve in Tennant Creek in 20 years.

• Construction of the Nobles CIL gold processing facility by JV partner TCMG is underway, targeting production ramp-up by September 2025.

Financial highlights

• Net loss for the year ended 30 June 2024 was $2,938,203, compared to a $2,585,549 loss in the prior year.

• Total revenue and other income decreased to $432,991 from $930,418 year-over-year, mainly due to lower interest and consulting fees.

• Expenses slightly decreased to $3,371,194 from $3,515,967, with reduced exploration expenditure ($1,459,185 vs $1,763,502 prior year).

• Net assets and total equity declined to $4,763,865 (2023: $7,370,253), and cash decreased to $2,693,533 (2023: $5,295,234).

Outlook and guidance

• Ongoing exploration and development in Tennant Creek and NSW, with a focus on expanding resource inventory and advancing projects to production.

• Nobles CIL facility expected to be operational by September 2025, unlocking value from multiple high-grade deposits.

• Continued emphasis on self-funding through royalties and JV structures.