Great Western Mining (GWMO) H2 2024 earnings summary

Executive summary

• Loss after tax of €1,741,056 for 2024, up from €952,654 in 2023, including an impairment provision of €781,610 for relinquished claims.

• Net assets at year-end were €9,458,826, compared to €8,831,416 in 2023.

• No revenues generated; focus remains on exploration and development of mineral resources in Nevada, USA.

• Four business streams: copper (Huntoon Valley), precious metals, processing mill, and new tungsten prospects.

Financial highlights

• Administrative expenses totaled €971,913; impairment of exploration assets was €781,610.

• Cash and cash equivalents at year-end were €299,345, up from €95,306 in 2023.

• Share capital increased to €1,043,785 following several placings during the year.

• No dividends paid in 2024.

Outlook and guidance

• Drilling program for copper at West Huntoon and gold at Rhyolite Dome planned for summer 2025.

• Continued fieldwork and lab analysis for tungsten prospects.

• Seeking joint venture partners and additional funding to accelerate project development.