Oakajee (OKJ) Q4 2024 TU earnings summary

Executive summary

• Continued regional exploration at the Paynes Find project in Western Australia, focusing on gold mineralisation zones.

• Identified a 400m wide anomalous gold zone with associated pathfinder elements; further drilling planned.

• Company holds interests in multiple tenements, primarily through an 80% beneficial interest in key Paynes Find Gold Project leases.

Financial highlights

• Ended the quarter with $1,434,537 in liquid assets, including $682,537 in cash and $752,000 in listed shares.

• Shareholdings include 11,000,000 shares in Santa Fe Minerals and 2,000,000 shares in Turaco Gold.

• Net cash used in operating activities for the quarter was $124,000; year-to-date net cash used was $610,000.

• Net cash used in investing activities for the quarter was $173,000.

• Cash and cash equivalents at quarter end were $683,000, down from $807,000 in the previous quarter.

Outlook and guidance

• Additional broad spaced and infill drilling planned at Paynes Find, pending permitting and contractor availability.

• Estimated funding available for 5.5 quarters based on current cash and outgoings.

• Continues to assess other potential gold exploration projects.