Tigers Realm Coal (TIG) Q2 2024 TU earnings summary

Executive summary

• ROM coal mined reached 379kt in the June quarter, up 9% from the March quarter.

• Coal delivered to Beringovsky Port totaled 302kt, with 194kt loaded and 106kt sold during the quarter.

• The company is in material compliance with all license obligations.

• Sale of Russian operations is pending final Presidential approval, with all other conditions satisfied.

• Dr Bruce Gray resigned as Non-Executive Director effective 12 July 2024 due to ill health.

Financial highlights

• All revenue and proceeds from coal sales are held within Russian entities pending completion of the sale to APM-Invest.

• Beringpromugol held a cash balance of US$7.5M at quarter end.

Outlook and guidance

• If the sale of Russian assets does not complete, proceeds revert to TIG; otherwise, proceeds will be transferred to APM-Invest.