Cauldron Energy (CXU) Q4 2024 TU earnings summary

Executive summary

• Focused on advancing the Yanrey Uranium Project with a major 2024 drilling program underway, targeting both resource expansion and new high-priority targets.

• Melrose Nickel-Copper-PGE Project completed initial RC drilling, confirming anomalous nickel and further SEM analysis pending.

• Actively reviewing new project opportunities in uranium, copper, and other energy transition minerals.

• Maintained strong engagement with local stakeholders and secured all necessary regulatory and heritage clearances for ongoing exploration.

Financial highlights

• Cash at bank as of 30 June 2024 was $1.94 million.

• $173k received from option conversions during the quarter.

• Exploration expenditure for the quarter totaled $609k, with major costs in drilling, assay, and heritage surveys.

• Net cash outflow from operating activities for the quarter was $1.02 million.

• Estimated quarters of funding available at current burn rate is 1.9.

Outlook and guidance

• Ongoing 2024 drilling at Yanrey aims to expand and upgrade the existing JORC resource and test new targets.

• Results from Melrose Project SEM analysis expected in coming weeks to guide next exploration steps.

• Company remains open to raising additional capital as needed and is confident in its ability to secure funding.