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URA (GEMR) investor relations material

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URA H2 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for URA Holdings Plc
H2 2024 earnings summary30 Apr, 2025

Executive summary

  • Completed restoration of Gravelotte Emerald Mine; hard rock mining began January 2025 after plant commissioning.

  • Acquired 65% of Curlew Emerald Project in Western Australia, expanding development pipeline.

  • First post-period emerald sales: 8,130 carats sold at $5.29/ct, total revenue $57,000.

  • Independent valuation: Gravelotte NPV estimated at $22.4m, projected pre-tax profit $79.5m over 17 years.

  • Name changed from URA Holdings Plc to Gem Resources Plc, reflecting focus on gemstone assets.

Financial highlights

  • Group loss for 2024: £1.96m (2023: £1.13m); Company loss: £1.47m (2023: £0.87m).

  • Basic and diluted EPS: (0.64)p (2023: (0.42)p).

  • Cash at year-end: Group £414k (2023: £674k); Company £283k (2023: £667k).

  • Net cash outflow from operations: £550k (2023: £950k).

  • Raised £475k in February and £425k in July 2024 via placements to fund operations and acquisitions.

Outlook and guidance

  • Focus for 2025: scale up Gravelotte production, optimise recoveries, and advance Curlew development.

  • Anticipates improved financial performance as hard rock mining ramps up, but further funding required.

  • Aims to become a leading, ethical emerald producer as market conditions stabilise.

Gravelotte/Curlew sales impact on funding needs?
How do trial emerald prices affect Gravelotte NPV?
What is the plan for the impaired Zambian licence?
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