RTG Mining (RTG) Q2 2024 TU earnings summary

Executive summary

• RTG Mining advanced the Mabilo Project in the Philippines, securing multiple debt finance and offtake offers to fund 100% of Stage 1 capital expenditure, with binding documentation expected soon.

• Early repayment of a US$27M loan to RTG is anticipated from Stage 1 DSO proceeds, enabling significant near-term cashflow and supporting Stage 2 equity needs.

• The Chanach Project in Kyrgyz Republic saw 50% completion of a planned IP geophysics program, with fieldwork confirming strong copper and gold mineralisation potential.

• RTG remains engaged as a nominated development partner for the Panguna Project in Bougainville, PNG, supporting landowner-led redevelopment initiatives.

Financial highlights

• Cash and liquid assets as of 30 June 2024 were A$4.7M, including a US$0.3M receivable.

• Net cash used in operating activities for the quarter was US$1.39M; cash and cash equivalents at period end were US$2.89M.

• Payments to related parties during the quarter totaled US$137,165 for directors' remuneration.

Outlook and guidance

• Key Q3 2024 objectives include finalising financing for Mabilo Stage 1, acquiring surface rights, and preparing for development start.

• Processing of Chanach IP data is expected to complete in the December 2024 quarter, with further exploration planned.