PSC Insurance Group (PSI) H1 2025 earnings summary

Executive summary

• Net loss after tax for the half-year ended 31 December 2024 was $414,383, an improvement from $581,383 in the prior corresponding period.

• Principal activities focused on gold and base metals exploration in Western Australia, with ongoing work at Mt Murray, Challa, and Watson's Well projects.

• No significant changes in the state of affairs or events subsequent to the reporting period that would affect future operations.

Financial highlights

• Revenue from other income was $30,367, down from $41,699 year-over-year.

• Exploration expenditure for the half-year was $162,442, down from $213,937 in the prior period.

• Cash and cash equivalents at 31 December 2024 were $1,381,814, compared to $1,783,430 at 30 June 2024.

• Net cash used in operating activities was $400,575, a decrease from $487,737 in the previous year.

• Basic and diluted loss per share was 0.57 cents, improved from 0.80 cents year-over-year.

Outlook and guidance

• Permitting received for further drilling at Challa North Gold Project; contractor engagement underway.

• Ultra-detailed drone magnetic survey at Watson's Well to guide future RC drilling for vanadium-titanium-iron layers.

• Continued assessment of new resource sector opportunities, with a focus on gold exploration.