Oakajee (OKJ) Q2 2025 TU earnings summary

Executive summary

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

• Auger drilling aimed to penetrate alluvial cover and sample bedrock interface; 224 samples collected and assayed for gold and other elements.

• Results from Banks South-West Extension and Deep Well were disappointing, with low gold and copper values attributed to insufficient penetration of alluvial cover.

• Company holds significant shareholdings in Santa Fe Minerals Limited and Turaco Gold Limited and continues to assess other gold exploration opportunities.

Financial highlights

• Ended the quarter with $1,284,338 in liquid assets: $433,338 in cash and $851,000 in listed shares.

• Net cash used in operating activities was $144,000 for the quarter and $248,000 for the six months.

• Cash and cash equivalents at quarter end were $434,000, down from $579,000 in the previous quarter.

• Payments to related parties totaled $50,360 for the quarter, covering director fees and superannuation.

Outlook and guidance

• Estimated available funding covers approximately 3 quarters of operations at current expenditure rates.

• No immediate plans to raise additional capital, with sufficient liquidity to meet near-term objectives.