Odyssey Gold (ODY) H2 2024 earnings summary

Executive summary

• Focused on gold exploration in Western Australia, holding 80% of the Tuckanarra and Stakewell projects in the Murchison Goldfields, with a land position over 170km².

• Updated mineral resource estimate (MRE) for Tuckanarra totals 5.14Mt at 2.5g/t Au for 407,000oz, with significant high-grade subsets and growth potential.

• Drilling extended mineralisation at depth, with further drilling and geophysics planned to expand resources.

• Well-funded to complete exploration programs through 2024, following a $3.2 million capital raise.

Financial highlights

• Net loss for the year ended 30 June 2024 was $2,042,458, down from $3,837,942 in 2023, mainly due to lower exploration and evaluation expenses.

• Cash reserves at 30 June 2024 were $2,942,793, with no debt.

• Net assets increased 9% to $11,824,878, driven by capital raising offset by the annual loss.

• Net current asset surplus of $2,814,899 at year-end.

Outlook and guidance

• Plans to continue systematic drilling and geophysical surveys at Tuckanarra to grow the MRE and upgrade resource categories.

• Focus remains on building shareholder value through resource expansion and project development.