Warriedar Resources (WA8) H2 2024 earnings summary

Executive summary

• Achieved significant exploration success at Golden Range and Fields Find, with major drilling programs expanding resources and identifying new mineralisation, including high-grade gold and antimony at Ricciardo.

• Big Springs Project in Nevada remains a strategic asset with over 1 Moz gold resources and ongoing efforts to secure a JV partner.

• Leadership team strengthened with key appointments in executive and board roles.

Financial highlights

• Net loss for FY2024 was $21.4 million, compared to $9.9 million in FY2023, driven by exploration and impairment expenses.

• Revenue was $311,279, primarily from interest and camp rentals.

• Cash and cash equivalents at year-end were $3.5 million, down from $5.6 million.

• Raised $11.5 million in equity placements during the year, with an additional $4 million post year-end.

Outlook and guidance

• Focus remains on resource growth at Golden Range, with further drilling planned at Sprite, Bugeye, and greenfield targets.

• Big Springs Project to be advanced via strategic partnership or further self-funded drilling.