Indiana Resources (IDA) Q1 2025 TU earnings summary

Executive summary

• Received first US$35M payment from Tanzania as part of a US$90M ICSID arbitration settlement, with further instalments due in October 2024 and March 2025.

• Well-funded for exploration, with A$10M available from intercompany loan repayment and cash at bank of approximately A$20.5M at quarter end.

• High-grade gold assays up to 25.9g/t Au and significant REE mineralisation confirmed at Minos Prospect, with expanded exploration planned.

• Plans for initial shareholder return in December 2024 following further loan repayments.

Financial highlights

• Net cash inflow for the quarter driven by US$35M (A$21.1M net) settlement receipt from Tanzania.

• Cash at bank at 30 September 2024 was approximately A$20.5M.

• Payments for exploration and evaluation during the quarter totaled A$469,000; administrative and staff costs were A$547,000 and A$232,000, respectively.

• Payments to related parties and associates during the quarter were approximately A$332,000.

Outlook and guidance

• Expanded exploration program planned for the next six months, focusing on gold and REE targets in the Gawler Craton.

• Anticipates further cash inflows from remaining Tanzania settlement instalments (US$25M and US$30M).

• Initial shareholder distribution planned for December 2024, with further details to be provided.