WIA Gold (WIA) H2 2024 earnings summary

Executive summary

• Focused on gold and base metals exploration in Namibia and Côte d'Ivoire, with Kokoseb Gold Project in Namibia showing a 63% increase in inferred mineral resource estimate to 2.12 Moz at 1.0 g/t Au at a 0.5 g/t cut-off.

• Raised $27.8 million to fund aggressive resource growth and upgrades at Kokoseb.

• Appointed Josef El-Raghy as Executive Chairman in April 2024.

Financial highlights

• Net loss before income tax for FY24 was $3.61 million, compared to $1.52 million in FY23.

• Share-based payments increased to $2.11 million (FY23: $0.62 million).

• Cash and cash equivalents at year-end were $15.05 million, up from $1.22 million in FY23.

• Total assets increased to $43.77 million (FY23: $17.23 million).

• No dividends declared or paid.

Outlook and guidance

• Continued exploration and resource expansion planned for projects in Côte d'Ivoire and Namibia.

• Directors expect further developments in resource classification and project advancement.