Pacific Lime and Cement Limited (PLA) Q2 2025 TU earnings summary

Executive summary

• Progressed toward finalizing the Community Development Agreement (CDA) for the Central Lime Project, a key step for project financing and construction.

• Early construction at Central Lime Project advanced, with wharf Stage Two completion targeted for March 2025 to enable initial limestone sales and early revenues.

• Secured a 10-year exclusive quicklime supply alliance with Guangxi Zhongzi New Materials, enhancing product range and supply reliability.

• Signed a binding term sheet with PacUn for the Orokolo Bay Industrial Sands Project, with PacUn to invest up to USD 10 million and initial production targeted for Q3 2025.

• Fully repaid AUD 9.25 million corporate debt facility, supported by proceeds from a new USD 10 million convertible note issue.

Financial highlights

• Cash balance at 31 December 2024 was AUD 5.161 million, including AUD 900k from option payments.

• Quarterly net cash outflow from operating activities was AUD 1.225 million; investing outflows totaled AUD 3.502 million, mainly for Central Lime Project development.

• Financing inflows included AUD 900k from equity, AUD 14.936 million from convertible notes, and repayment of AUD 9.25 million in borrowings.

• Estimated quarters of funding available at period end was 1.09, but management expects more than two quarters' runway after adjusting for one-off project costs.

Outlook and guidance

• Final Investment Decision for Central Lime Project targeted in Q3 FY25, with focus on executing equity and debt agreements.

• Stage Two of the wharf to be completed by March 2025, enabling early limestone sales and revenues.

• Orokolo Bay Project to advance to construction and initial production in Q3 2025, pending definitive agreements and long-lead orders.

• Ongoing community engagement and infrastructure development to support project advancement.