Raiden Resources (RDN) H2 2024 earnings summary

Executive summary

• Mineral exploration focused on Pilbara, Western Australia (Andover, Mt Sholl, Arrow, Tabba Tabba) and projects in Serbia and Bulgaria.

• Consolidated net loss for FY24 was $3.66 million, a significant improvement from $5.70 million loss in FY23.

• Raised $6 million via share placement and $3.14 million from option exercises, strengthening cash position to $5.71 million at year-end.

• No dividends declared or paid for the year.

Financial highlights

• Revenue from other income was $359,872 (FY23: $506,812).

• Exploration and evaluation expenditure totaled $2.26 million (FY23: $2.36 million).

• Share-based payments expense was $288,747 (FY23: $326,488).

• Cash and cash equivalents increased to $5.71 million (FY23: $0.74 million).

• Net assets rose to $20.62 million (FY23: $9.82 million).

Outlook and guidance

• Exploration activities expected to continue at current levels, with potential for increased or decreased scope based on results.

• Future capital requirements will depend on exploration outcomes and business development; further financing may be needed.