Strandline Resources (STA) Q2 2025 TU earnings summary

Executive summary

• Produced 36,781 tonnes of HMC in the December 2024 quarter, down from 46,115 tonnes in September 2024 quarter.

• Achieved record ore processing in December 2024 with 1.78Mt throughput.

• Sales totaled 39,776 tonnes in the quarter, with 10,593 tonnes shipped in early January 2025.

• No lost time injuries; TRIFR at 4.3 per million hours worked.

• Shares remain suspended as debt restructure discussions continue.

Financial highlights

• Consolidated cash at 31 December 2024 was A$1.33m, down from A$3.02m at 30 September 2024.

• Received A$36.1m from three shipments in the quarter; operating costs were A$39.2m.

• Additional A$10m funding received from NAIF; A$0.7m revenue from LGC credits.

• C1 cash cost per tonne HMC produced rose to A$1,123 from A$746 sequentially.

• HMC realised price increased to A$866/t from A$847/t quarter-on-quarter.

Outlook and guidance

• Mined grades expected to improve in March 2025 quarter.

• Three shipments secured for March 2025 quarter; strong customer demand continues.

• Airstrip construction at Coburn expected to complete by end of March 2025 quarter.

• Company expects lower cash outflows due to improved sales prices and reduced operating costs.