Strickland Metals (STK) H2 2024 earnings summary

Executive summary

• Achieved a net profit after tax of $26.1 million for FY2024, reversing a prior year loss, primarily due to the $31.1 million gain from the sale of the Millrose Project.

• Completed the acquisition of the Rogozna Project in Serbia, adding a significant gold-base metal resource to the portfolio.

• Strengthened the board and management team with several key appointments, including a new Managing Director and Executive Technical Director.

Financial highlights

• Net profit after tax: $26,132,593 (2023: loss of $2,572,763).

• Cash and cash equivalents at year-end: $24,510,494 (2023: $1,698,101).

• Capitalised mineral exploration and evaluation expenditure: $35,823,095 (2023: $21,651,882).

• Earnings per share: 1.58 cents basic (2023: -0.18 cents).

• Significant gain of $31,121,798 from the Millrose Project sale.

Outlook and guidance

• Focus on expanding the Rogozna Project resource base through a 60,000m drilling campaign targeting both resource definition and new discoveries through 2025.

• Continued exploration at Yandal and other Western Australian projects, with emphasis on underexplored areas.

• No dividend declared or recommended for the year.