Tribune Resources (TBR) Q1 2025 TU earnings summary

Executive summary

• 49,484 tonnes of ore processed at 4.58 g/t from EKJV operations, with Tribune's share at 37,113 tonnes.

• 6,880 ounces of gold produced by Rand and Tribune; Tribune's 75% share was 5,160 oz.

• Net cash inflow from operating activities was $7.43m for the quarter, up from $3.54m in the previous quarter.

Financial highlights

• Cash and cash equivalents increased to $12m at 30 September from $8.915m at 30 June.

• Receipts from customers rose to $35.247m, up $8.302m from the previous quarter.

• Development costs increased by $4.258m due to recommencement of Raleigh operations.

• Staff, admin, and corporate costs were $1.74m, up $317k sequentially.

• Exploration expenses were $1m, up $343k, mainly from tenement rents and rates.

Outlook and guidance

• No shares were bought back during the quarter; current buyback expires 20 February 2025 unless extended.

• Field work for Seven Mile Hill JV to commence upon regulatory approval in coming quarters.