Black Canyon (BCA) H1 2025 earnings summary

Executive summary

• Report covers the six months ended 31 December 2024, focusing on manganese exploration and development in Western Australia's Pilbara region.

• Loss for the period after tax was $362,727, an improvement from $495,693 loss in the prior year.

• Key operational highlights include the high-grade Wandanya manganese and iron ore discovery and positive Scoping Study results for the KR1 and KR2 deposits.

Financial highlights

• Net loss for the half-year was $362,727, compared to $495,693 loss in the same period last year.

• Revenue sources included $10,339 in interest income and $227,510 in government grants.

• Cash and cash equivalents at 31 December 2024 were $716,660, down from $1,432,503 at 31 December 2023.

• Net cash outflow from operating activities was $542,557; net cash outflow from investing activities was $564,559; net cash inflow from financing activities was $1,154,732.

• Total equity increased to $6,831,831 from $6,048,341 at 30 June 2024.

Outlook and guidance

• Additional drill programs are planned at Wandanya to define a maiden mineral resource and conduct metallurgical testwork in 2025.

• The company is positioned to continue exploration and development, supported by recent capital raises.