S2 Resources (S2R) H1 2025 earnings summary

Executive summary

• Principal activity focused on mineral exploration, primarily in Australia, with recent divestment of Finnish assets.

• Recorded a net gain of $2.34 million for the half year ended 31 December 2024, driven by a $6.19 million gain from the sale of discontinued operations.

• No dividends were paid or proposed during the period.

Financial highlights

• Loss from continuing operations was $3.85 million, compared to a $3.77 million loss in the same period last year.

• Gain on sale of discontinued operations (Finnish subsidiary) was $6.19 million.

• Basic gain per share for the period was 0.52 cents, compared to a loss of 0.91 cents per share last year.

• Cash and cash equivalents at period end were $3.47 million, down from $5.32 million at 30 June 2024.

• Net assets increased to $11.22 million from $8.09 million at 30 June 2024.

Outlook and guidance

• Entered into earn-in agreements for multiple Victorian gold projects, with the right to earn up to 80% interest by spending $1.2 million over four years.

• Finalized agreement to earn a 51% interest in the Glenfine Joint Venture by sole funding $200,000 over four years.