Liberty Gold (LGD) Q4 2024 earnings summary

Executive summary

• Closed sale of TV Tower project in Türkiye, receiving $3.7 million as the first of three staged payments, with additional payments due in 2025 and 2026.

• Published 2023 ESG disclosure update and advanced Black Pine and Goldstrike projects with significant exploration and resource updates.

• Announced intention to spin out Goldstrike and Antimony Ridge into a separate entity, with transaction expected to complete in Q3 2025.

Financial highlights

• Loss for the year from continuing operations was $16.7 million, compared to $16.6 million in 2023 and $20.6 million in 2022.

• Basic and diluted loss per share from continuing operations was $(0.05), improved from $(0.06) in 2023 and $(0.07) in 2022.

• Cash and short-term investments at year-end were $7.0 million, down from $9.1 million in 2023.

• Working capital stood at $7.3 million, compared to $7.6 million in 2023.

• Shareholders' equity was $21.2 million at year-end, down from $27.6 million in 2023.

Outlook and guidance

• Further staged payments from the TV Tower sale are expected in October 2025 ($2.2 million) and October 2026 ($2.6 million).

• Goldstrike spin-out transaction is progressing, with completion targeted for Q3 2025.

• Ongoing updates to Goldstrike resource and continued exploration at Black Pine and Goldstrike.