Wishbone Gold (WSBN) H2 2024 earnings summary

Executive summary

• Major exploration progress in Western Australia, with Red Setter and Cottesloe projects advancing and new gold targets identified at Crescent Gold.

• Significant corporate transformation, including board renewals, new finance director, and strategic restructuring of the Western Australia subsidiary.

• Raised £1.16m in 2024 and £2.45m in H1 2025, ensuring robust funding for 2025 exploration programs.

• Voluntary administration and financial reorganisation of Wishbone Gold WA Pty Ltd completed, enabling renewed exploration activity.

Financial highlights

• Operating loss increased to £1.46m for 2024 from £1.27m in 2023.

• Total comprehensive loss for 2024 was £1.89m, up from £1.52m in 2023.

• Cash and cash equivalents rose to £124,895 at year-end 2024 from £18,226 in 2023.

• Share capital increased to £3.37m and share premium to £17.02m following new share issues.

• Net assets decreased to £5.52m from £6.25m year-over-year.

Outlook and guidance

• 2025 focus on drilling at Red Setter, advancing Crescent Gold targets, and systematic exploration at Cottesloe.

• Plans to invest surplus cash in a Bitcoin Treasury operation, subject to crypto policy adoption.

• Optimism for delivering shareholder value with a streamlined structure and high-potential targets.