Indiana Resources (IDA) Q2 2025 earnings summary

Executive summary

• Accelerated exploration at Minos gold deposit with high-grade gold intersections and discovery of a new Southwestern Zone.

• 28 RC holes completed at Minos; diamond drilling program of 1,300m underway to test extensions.

• Special dividend of 5.0c per share paid in December 2024; robust cash position of AU$23.47m at quarter end.

• Intention to make a further distribution in May 2025, subject to final payment from Tanzania settlement.

• Appointment of Lindsay Owler as CEO, bringing significant exploration and corporate experience.

Financial highlights

• Cash at bank at 31 December 2024: AU$23.47m.

• Special dividend of AU$32.14m paid during the quarter.

• Net cash from operating activities: -AU$4.63m for the quarter.

• Net cash from investing activities: +AU$38.7m, mainly from Tanzania settlement proceeds.

• Net cash from financing activities: -AU$31.64m, primarily due to dividend payment.

Outlook and guidance

• Further distribution to shareholders planned for May 2025, contingent on US$30m final payment from Tanzania by 30 March 2025.

• Ongoing diamond drilling at Minos with results to be reported progressively; systematic exploration and mapping to continue in 2025.