MetalsTech (MTC) Q4 2024 TU earnings summary

Executive summary

• Progressed a proposed US$36M transaction with Trans Metal Fund (TMF) for the Sturec Gold Mine, with an additional US$20M contingent on permit grant.

• Underground mining activity permit for Sturec was granted, satisfying a key TMF offer condition.

• Hosted multiple site visits, including major gold miners and technical consultants, with positive due diligence outcomes.

• Equity raising completed, securing ~$1.6M to advance strategic processes and assess new opportunities.

Financial highlights

• Cash outflows from operating activities for the quarter were $771,000; investing outflows were $133,000.

• Cash inflows from financing activities totaled $1,352,000 for the quarter.

• Cash and cash equivalents at 30 June 2024 stood at $600,000.

• Aggregate payments to related parties during the quarter were $123,000.

Outlook and guidance

• TMF's proposed acquisition includes US$36M upfront, US$20M on permit, and a 2% royalty convertible to US$25M after commercial production.

• Company expects to continue current net operating cash flows and is reviewing funding requirements, with confidence in raising further funds.

• Actively reviewing additional gold sector project opportunities alongside the Sturec process.