ActivEX (AIV) Q1 2025 earnings summary

Executive summary

• Entered JV with HKCCIG for Gilberton Gold Project; $1M cash for 65% interest, with option to increase to 75.5% via $1M exploration spend.

• Drilling commenced at Gilberton in October, aiming to define maiden gold resource.

• Aramac REE project footprint to double; fieldwork and grant application planned.

• Georgetown and Esk projects advanced through data compilation and target generation.

Financial highlights

• Cash at 30 September 2024: $462,000.

• Net cash used in operating activities for the quarter: $(83,000).

• Net cash from investing activities: $492,000, mainly from JV proceeds.

• $2.84M undrawn from $5M Star Diamond loan facility.

• Estimated 36 quarters of funding available at current burn rate.

Outlook and guidance

• Gilberton drilling to complete in early November; gold assay results expected later in November.

• Aramac REE project to begin fieldwork in Q1 2025; aircore drilling planned for Q2/Q3 2025.

• Georgetown and Esk projects to progress with initial exploration and potential JV discussions.