Lac Gold (LAC) Q2 2025 TU earnings summary

Executive summary

• Limited exploration at Pickle Lake Gold Project as focus shifts to assessing new gold and copper opportunities to complement existing assets.

• Eastern Hub identified as the most prospective short-term target due to favorable access and proximity to historical mines.

• Corporate activities included receipt of A$1.2 million tax refund and maintenance of a strong cash position.

Financial highlights

• Cash balance at 31 December 2024 was A$11.76 million, with no debt.

• Quarterly cash inflows included A$1.2 million tax refund, A$112k interest, and A$86k reimbursement.

• Cash outflows for the quarter: staff costs A$195k, admin/corporate A$76k, exploration A$90k.

• Net cash from operating activities for the quarter was A$1.14 million.

• Retained ~13 million shares in Green Technology Metals valued at ~A$900k.

Outlook and guidance

• Board remains cautious due to macroeconomic headwinds for junior explorers.

• Actively reviewing strategic opportunities to enhance the resource base and maximize shareholder value.