Lac Gold (LAC) Q1 2025 TU earnings summary

Executive summary

• Limited exploration activity as focus shifted to reviewing and assessing new gold and copper project opportunities to complement the Pickle Lake Gold Project.

• Pickle Lake Gold Project remains highly prospective, with the Eastern Hub identified as the most promising short-term target due to access and proximity to historical mines.

• Board and management are actively pursuing strategic opportunities to enhance the resource base amid challenging macroeconomic conditions.

Financial highlights

• Cash balance at 30 September 2024 was A$10.5 million, with an additional A$1.2 million received from the Canada Revenue Authority after quarter end.

• Quarterly cash outflows included staff costs of $127k, corporate administration of $230k, and exploration and evaluation of $44k, partially offset by $88k in interest income and $39k from asset sales.

• Retains approximately 13 million shares in Green Technology Metals, valued at around $1.2 million as of 23 October 2024.

• Estimated 33.5 quarters of funding available based on current cash and outgoings.

Outlook and guidance

• Focus remains on disciplined exploration and strategic project review to maximize shareholder value.

• The Eastern Hub, especially Kasagiminnis, South Limb, West Pickle, and 250 North prospects, prioritized for near-term exploration due to cost-effective access.