CZR Resources (CZR) Q1 2025 TU earnings summary

Executive summary

• All Chinese Government approvals for the Robe Mesa sale to Miracle Iron Resources received; FIRB approval remains outstanding with a deadline of 31 October 2024.

• CZR reduced expenditure and extended the transaction sunset date as it awaits FIRB decision.

• Heritage survey completed at Croydon, clearing the way for drilling at Top and Bottom Camp prospects.

• Loan facility with Yandal Investments increased to $1.5 million, with $500k drawn at quarter end.

Financial highlights

• Cash at end of September quarter: $0.4 million.

• Net cash used in operating activities for the quarter: $1.04 million.

• Net cash from financing activities: $0.88 million.

• Estimated quarters of funding available: 1.43.

Outlook and guidance

• Settlement of the Robe Mesa sale for $102 million expected this quarter, pending FIRB approval.

• If required, company will seek to raise equity or undertake borrowings to fund operations.

• Company expects to continue operations and meet objectives with existing and future funds.