Macro Metals (M4M) Q4 2024 TU earnings summary

Executive summary

• Extensive rock chip sampling at Cane Bore's Callisto and Europa targets returned results comparable to other Channel Iron Deposit projects in the region.

• Maiden drilling campaign commenced at Callisto Prospect, aiming to define a maiden Indicated Mineral Resource.

• Macro entered a binding agreement to acquire 80% interest in three manganese projects in the Eastern Pilbara from Firebird Metals.

• Macro Mining Services Pty Ltd launched to provide mining services and diversify revenue streams.

• Mr Tolga Kumova appointed Chairman; cash at bank at quarter end was approximately $3.8 million.

Financial highlights

• Cash and cash equivalents at 30 June 2024 were $3.82 million, up from $3.07 million at the previous quarter end.

• Net cash used in operating activities for the quarter was $705k, with $406k spent on exploration and evaluation.

• Financing activities raised $1.53 million in the quarter, including $1.13 million from option exercises.

• Payments to related parties totaled $216k for the quarter, mainly for director fees and office rent.

• Estimated quarters of funding available is 5.4 based on current cash and outgoings.

Outlook and guidance

• Focus remains on expediting development of Cane Bore, Catho Well, Turner, and Goldsworthy projects.

• Further systematic mapping, sampling, and drill testing planned at Goldsworthy East to confirm mineralisation.

• Macro Mining Services expected to provide revenue diversification and industry partnerships.

• Strategic focus on becoming a Pilbara-based iron ore producer; Agbaja Iron and Steel Project in Nigeria to be divested.