Newfield Resources (NWF) Q1 2025 TU earnings summary

Executive summary

• Zero lost time injuries recorded, with 860 LTI-free days and improved LTIFR to 0.33 at quarter end.

• Tongo Diamond Mine development constrained by funding, with maintenance of underground services ongoing.

• Bulk sampling of Kundu Segment D planned for early 2025 to upgrade resource classification.

• ESG compliance maintained, with 527 saplings planted and ongoing transition to hydroelectric power.

• Community initiatives in agriculture and microfinance continue under the Community Development Agreement.

Financial highlights

• Net cash used in operating activities was $862k for the quarter ended 30 September 2024.

• Net cash from investing activities was $400k, and net cash from financing activities was $461k.

• Cash and cash equivalents at quarter end totaled $8k.

• Estimated quarters of funding available is 0.9, below the 2-quarter threshold.

Outlook and guidance

• Surface bulk sampling of Kundu Segment D to commence January 2025, expected to take 4 months and cost US$213k.

• Migration to hydroelectric power remains a strategic objective for 2025, with negotiations ongoing.

• Company expects to continue operations and meet objectives, supported by new funding facilities.