Oakajee (OKJ) Q1 2025 TU earnings summary

Executive summary

• Regional exploration at the Paynes Find project in Western Australia continued, focusing on auger drilling and sampling at Banks and Deep Well targets.

• 224 auger samples were collected from two target areas and sent for assay, with results expected in the December quarter.

• The company maintains an 80% interest in key tenements at Paynes Find, with joint venture arrangements in place for certain areas.

Segment performance

• Auger drilling at Banks South-West Extension targeted a 1.7km structure extension under cover, with 200m x 50m spacing.

• Deep Well target, 6km northwest of Banks, was tested with auger drilling over a 3km x 3km area, focusing on a regional fold closure.

Financial highlights

• Liquid assets at quarter end totaled $1,646,077, including $579,077 in cash and $1,067,000 in listed shares.

• Shareholdings include 11 million shares in Santa Fe Minerals and 2 million in Turaco Gold.

• Net cash used in operating activities for the quarter was $104,000.

• Cash and cash equivalents at quarter end were $579,000, down from $683,000 in the previous quarter.