Georgina Energy (GEX) H1 2025 earnings summary

Executive summary

• Completed reverse takeover and relisting on the London Stock Exchange main market on 30 July 2024, raising £5 million in new equity.

• Focused on helium and hydrogen exploration in Australia, with key projects at EP513 Hussar and EPA155 Mt Winter.

• Actively progressing drilling permits and site preparations, with drilling at Hussar scheduled to commence December 2024.

Financial highlights

• Operating loss for the six months ended 31 July 2024 was £2.9 million, up from £0.95 million year-over-year.

• Loss after taxation was £3.3 million, compared to £0.95 million in the prior year period.

• Cash and cash equivalents increased to £287,315 at 31 July 2024 from £7,337 a year earlier, reflecting new equity raised.

• Earnings per share was a loss of 9.91 pence, compared to a loss of 2.92 pence year-over-year.

Outlook and guidance

• Directors believe current funding is sufficient for near-term exploration and working capital needs.

• Further institutional fundraising or debt arrangements remain available if additional capital is required.

• Drilling at Hussar is expected to begin in December 2024, with ongoing engagement at Mt Winter pending landowner consent.