ActivEX (AIV) H2 2024 earnings summary

Executive summary

• Achieved substantial progress in exploration, focusing on critical minerals such as rare earth elements, uranium, and gold, despite challenging market conditions.

• Queensland tenement holding remains robust with 16 granted EPMs and 1 application, covering 1,923 km².

• Exploration efforts led to significant uranium and REE discoveries at Gilberton and promising targets at Aramac.

• Esk Copper and Gold Project under review by interested parties, reflecting portfolio value.

• $5 million loan facility with $2.84 million undrawn, supporting ongoing exploration.

Financial highlights

• Operating loss before income tax for FY2024 was $2,700,814, up 174% from $984,068 in FY2023.

• Capitalised exploration expenditure for the year was $398,753, down from $794,835 in prior year.

• Losses included $22,832 on disposal of financial assets, $219,230 on disposal of exploration assets, $1,646,515 in impairment losses, and $259,408 in interest expense.

• No dividends paid or proposed.

• Net assets at 30 June 2024 were $3,226,149, down from $5,926,963 in 2023.

• Cash at year-end was $53,334, with current assets of $79,008 and current liabilities of $104,546.

Outlook and guidance

• Priorities include advancing mineral projects toward resource definition and maintaining financial discipline.

• Continued focus on copper/gold projects and joint ventures, with divestment of non-core assets under consideration.

• Ongoing need to raise additional funds for exploration and corporate expenditure.