Oakajee (OKJ) H2 2024 earnings summary

Executive summary

• Continued regional exploration at Paynes Find Gold Project in Western Australia, with air-core drilling completed in November 2023 targeting gold zones under shallow cover.

• Surrendered remaining Birrindudu Nickel Project tenements during the year, focusing efforts on gold exploration.

• Net loss after tax for FY2024 was $675,299, compared to $497,612 in FY2023.

• Cash at 30 June 2024 was $682,537, down from $1,466,317 a year earlier.

Financial highlights

• Revenue and other income for FY2024 was $37,786, up from $28,454 in FY2023.

• Net loss after tax increased to $675,299 (FY2023: $497,612).

• Total comprehensive loss for the year was $558,299, improved from $1,163,574 in FY2023 due to a $117,000 net fair value gain on equity investments.

• Net assets at 30 June 2024 were $1,390,752, down from $1,949,051 at 30 June 2023.

• Cash outflows from operations were $611,005; total cash outflows for the year were $783,780.

Outlook and guidance

• Additional broad-spaced and infill drilling planned at Paynes Find to further define gold mineralisation, subject to permitting and contractor availability.

• No dividends declared or paid for FY2024.