Far East Gold (FEG) H1 2025 earnings summary

Executive summary

• Loss after tax increased to $3,788,435 for the half-year ended 31 December 2024, up from $831,842 year-over-year, mainly due to non-cash share-based payments and transaction costs related to the Idenburg acquisition.

• Raised $9,890,308 from two tranches of a placement agreement with Xingye (Hong Kong) Mining Company, with a further $4,783,450 received post-period.

• Announced a maiden JORC inferred resource estimate for Idenburg of 4.1Mt at 4.1g/t Au and 3.6g/t Ag, totaling 540,000 oz gold and 468,000 oz silver.

• Continued exploration at Woyla (Indonesia), Trenggalek (Java), and Mount Clark West (Australia).

Financial highlights

• Revenue for the half-year was $11,843, up from $4,437 year-over-year.

• Net loss after tax was $3,799,815, compared to $859,568 in the prior period.

• Basic and diluted EPS were both (1.31) cents, down from (0.33) cents year-over-year.

• Cash and cash equivalents at 31 December 2024 were $10,445,515, up from $1,090,974 at 30 June 2024.

• Net assets increased to $45,001,364 from $31,535,670 at 30 June 2024.

Outlook and guidance

• Directors believe the Group will continue as a going concern, supported by recent capital raises and cash flow projections for the next 12 months.

• Focus remains on exploration and development activities in Australia and Indonesia.