Arrow Minerals (AMD) Q4 2024 TU earnings summary

Executive summary

• Completed maiden drill program at Niagara, confirming 14km² of high-grade bauxite mineralisation and significant exploration upside.

• Initiated maiden resource estimate for Niagara, with results expected by March 2025; scoping study underway for June 2025.

• Simandou North Iron Project delivered high-grade hematite fines (>66% Fe, <0.5% Al2O3) from bench-scale testwork.

• Signed non-binding MoU with Baosteel Resources for potential mine gate iron ore sales from Simandou North.

• Raised $7 million post-quarter to advance both projects and for working capital.

Financial highlights

• Cash at bank as of 31 December 2024 was $2.2 million.

• Exploration and evaluation expenditure for the quarter totaled $1.7 million.

• No substantive mining production or development activities during the quarter.

• Related party payments for the quarter were $133,000.

Outlook and guidance

• Niagara maiden resource estimate due March 2025; scoping study completion targeted for June 2025.

• Simandou North scoping study to follow further metallurgical and resource work.

• Recent $7 million capital raise expected to fund ongoing exploration and studies.