Sultan Resources (SLZ) Q1 2025 earnings summary

Executive summary

• Focused on exploration across WA gold/nickel/cobalt projects and Canadian lithium assets, with no active fieldwork in NSW during the quarter.

• Priority targets identified at Lake Grace Gold, Khal Nickel-Cobalt, and Ruddy Lithium projects; Kember Lithium project access negotiations ongoing.

• Cash position at quarter end was $321,000, with a post-quarter placement to raise up to $338,834 for due diligence and working capital.

Financial highlights

• Net cash used in operating activities was $86,000 for the quarter.

• Net cash used in investing activities (mainly exploration & evaluation) was $177,000.

• Cash and cash equivalents decreased from $584,000 to $321,000 over the quarter.

• Exploration and evaluation expenditure totaled $177,000.

• Payments to related parties and associates totaled $53,000.

Outlook and guidance

• Placement of $338,834 expected to support due diligence and working capital.

• Estimated quarters of funding available at 1.22, with reduced expenditure expected as drilling at Calesi is complete.

• Company expects to continue operations and meet objectives based on internal cashflow forecasts.