Gorilla Gold Mines (GG8) Q2 2025 TU earnings summary

Executive summary

• Commenced high-grade gold drilling at Comet Vale in October 2024, with four rigs now active and positive initial results reported at Cheer and Sovereign prospects.

• Acquired the Mulwarrie Project and surrounding tenements, consolidating a significant gold portfolio in the Eastern Goldfields.

• Raised $19.5M through a well-supported share placement to fund accelerated exploration across three West Australian projects.

• Drilling permitting approved at Vivien and Mulwarrie, with drilling underway or imminent at all core projects.

Financial highlights

• Cash and cash equivalents at quarter end: $18.6M, up from $1.6M in the previous quarter.

• Net cash used in operating activities: $(0.62)M for the quarter.

• Net cash used in investing activities: $(2.1)M for the quarter, mainly for exploration and acquisitions.

• Net cash from financing activities: $19.7M, primarily from equity placements.

• Estimated quarters of funding available: 7.3, indicating strong liquidity.

Outlook and guidance

• Maiden resource estimate for Vivien expected in February 2025.

• Ongoing and expanded drilling programs at Comet Vale, Vivien, and Mulwarrie to drive resource growth.

• Focus on unlocking high-grade gold potential and advancing projects toward development.