Pacific Lime and Cement Limited (PLA) Q4 2024 TU earnings summary

Executive summary

• Secured a non-binding term sheet with ACAM LP for a proposed USD 50 million investment to fund the Central Lime Project (CLP) and retire AUD 9.2 million in parent company debt.

• Completed an AUD 5 million placement to existing investors to fund wharf construction, with first revenues from limestone sales targeted for late 2024.

• Ongoing community engagement and partnership with APTC to deliver training and employment opportunities in PNG.

• Strong support from the PNG Prime Minister, highlighting CLP as a transformative project for the region.

Financial highlights

• Cash at 30 June 2024 was AUD 7.047 million, with AUD 2.7 million spent on exploration, evaluation, and early development works during the quarter.

• Net cash used in operating activities for the quarter was AUD 2.515 million; net cash used in investing activities was AUD 2.362 million.

• Proceeds from financing activities totaled AUD 2.254 million for the quarter.

• Sale of Adyton Resources shares generated CAD 0.3 million, with remaining holding valued at CAD 6.1 million.

Outlook and guidance

• Full-scale CLP construction to commence upon receipt of ACAM and Appian funding, with an 18-month completion window.

• Early cash flow from limestone sales expected late 2024; further wharf development to enable larger vessel loading in 2025.

• Additional AUD 3.2 million from placement and ACAM investment expected post-quarter, boosting liquidity.

• Secondary listing on PNGX underway to access local capital markets.