PDI Gold (PDI) H2 2024 earnings summary

Executive summary

• Advanced the Bankan Gold Project in Guinea, achieving key milestones including a significant Mineral Resource upgrade and completion of Pre-Feasibility Study (PFS) and Environmental & Social Impact Assessment (ESIA).

• Raised A$50 million in an oversubscribed equity offering to fund further development.

• Strengthened Board and management with key appointments to support project delivery and permitting.

Financial highlights

• Consolidated net loss for FY24 was $8.67 million, an improvement from $11.23 million in FY23, mainly due to exploration costs and administration.

• Cash and cash equivalents at 30 June 2024 were $29.4 million, with total current assets of $53.6 million.

• Net assets increased to $169.9 million from $128.8 million year-over-year, driven by capital raising and asset growth.

• No dividends declared or paid.

Outlook and guidance

• FY25 expected to be pivotal, focusing on securing the Exploitation Permit, advancing the Definitive Feasibility Study (DFS), and further resource growth.

• Targeting maiden Mineral Resource estimates at new exploration targets by end of 2024.