Pacific Lime and Cement Limited (PLA) Q1 2025 TU earnings summary

Executive summary

• Secured US$50 million financing for Central Lime Project, with US$10 million received via convertible notes and US$40 million conditional equity funding pending.

• Stage Two of CLP wharf development underway, enabling early revenue from limestone and aggregates by Jan 2025.

• Orokolo Bay Industrial Sands Project advanced with community support and ongoing site design and exploration.

• Achieved legal victory upholding rights to 790,000 hectares of carbon timber permits, supporting REDD+ carbon credit projects.

• Investee Adyton Resources completed US$5 million placement at a 16% premium, with Mayur holding over 50 million shares.

Financial highlights

• Cash balance at 30 September 2024 was A$3.477 million, prior to receipt of convertible note funds and option exercise.

• A$4.748 million spent on exploration and development, mainly for CLP wharf and infrastructure.

• Net cash used in operating activities for the quarter was A$1.898 million.

• Net cash used in investing activities was A$4.748 million; net cash from financing activities was A$3.2 million.

• Payments to related parties totaled A$225,000 for director remuneration.

Outlook and guidance

• CLP commercial production targeted within 18 months of Final Investment Decision, pending full funding.

• CDA with PNG Government expected to be finalized in Q4 CY2024, a key step for project advancement.

• Future quarters' project costs expected to be covered by announced equity and debt financings.

• Company expects to have more than two quarters of available cash after adjusting for recent financings.