Tribune Resources (TBR) H2 2024 earnings summary

Executive summary

• Statutory net profit after tax rose 60.8% to $7.88 million for FY2024, driven by higher gold prices, with gold sales revenue up 17.2% to $107.9 million, while ounces sold remained stable year-over-year.

• Significant cost increases were recorded in depreciation/amortisation (+$2.76 million), asset impairments (+$17.4 million), administration (+$2.8 million), and mining expenses (+$7 million), mainly due to the Raleigh mine restart.

• Cash inflows from operations increased to $46.8 million, with cash and cash equivalents at year-end rising to $8.9 million.

• A 20 cent per share dividend was paid, consistent with the prior year.

Financial highlights

• Revenue: $107.9 million (up from $92.0 million in FY2023).

• EBITDA: $27.9 million (up from $20.6 million in FY2023).

• Net profit after tax: $7.88 million (up from $4.90 million in FY2023).

• Basic and diluted EPS: 8.26 cents (up from 1.00 cent in FY2023).

• Total assets: $313.2 million (up 2.2%).

• Total liabilities: $26.8 million (up 63.9%).

• Net cash from operating activities: $46.8 million (up from $28.3 million in FY2023).

Outlook and guidance

• Continued focus on exploration, development, and production at existing projects, with plans to acquire further suitable projects as opportunities arise.

• Ongoing development at Raleigh and resource definition drilling at EKJV, with exploration targeting new zones.