Many Peaks Minerals (MPK) Q4 2024 TU earnings summary

Executive summary

• Completed acquisitions of four gold projects in Côte d'Ivoire, expanding land holdings to 1,919km² across six exploration permits in the Birimian Gold Terrain, a prolific gold region in West Africa.

• Initiated exploration at Odienne and Baga projects, with drilling and geochemical campaigns underway and assay results pending.

• Secured 100% ownership of CDI Holdings, consolidating interests in key Côte d'Ivoire permits, and entered an option to acquire 100% of Atlantic Resources CI SARL (Baga Project).

Financial highlights

• Ended the quarter with A$5.63 million in cash and firm commitments for an additional A$2.19 million, supporting operations through 2025.

• Raised A$2 million in April and A$5.2 million in June via placements, with Tranche 2 of the June placement pending shareholder approval.

• Exploration expenditure for the quarter was A$625k; administration and corporate costs were A$233k.

• Net cash inflow from financing activities was A$4.72 million for the quarter.

Outlook and guidance

• Sufficient funding to continue aggressive exploration and drilling activities in West Africa through 2025.

• Pending assay results from recent drilling and geochemical campaigns at Odienne, Ferke, and Baga projects expected in the coming weeks.

• Planned follow-up drilling at Ferke and further exploration at Baga and Oumé projects.