Gorilla Gold Mines (GG8) H1 2025 earnings summary

Executive summary

• Report covers the half-year ended 31 December 2024, highlighting significant acquisitions, exploration progress, and capital raisings.

• Major acquisitions include the Vivien and Mulwarrie gold projects, expanding the resource base and exploration portfolio.

• Active drilling and exploration at Comet Vale, Vivien, Mulwarrie, and Canadian projects, with promising high-grade gold intercepts.

• Board and management changes implemented to support growth and exploration activities.

Financial highlights

• Revenue for the half-year was $97,244, down from $103,128 in the prior period.

• Net loss after tax increased to $1.87 million from $0.56 million year-over-year, mainly due to impairment and increased exploration costs.

• Net assets rose to $67.9 million, up from $5.0 million at June 2024, reflecting project acquisitions and capital raisings.

• Cash and cash equivalents increased to $18.6 million, driven by successful equity placements.

Outlook and guidance

• Ongoing drilling and resource growth programs at Comet Vale, Vivien, and Mulwarrie, with further exploration planned.

• Focus on rapidly advancing high-grade Western Australian projects and evaluating Canadian assets for growth potential.