S2 Resources (S2R) H2 2024 earnings summary

Executive summary

• Focused on high-impact exploration for gold, copper, nickel, and PGEs across Australia, with a disciplined approach to capital and asset management.

• Significant progress at Greater Fosterville (Victoria), new farm-in agreements in New South Wales, and divestment of Finnish subsidiary for cash and equity.

• Raised A$7 million in December 2023, maintaining strong funding for exploration priorities.

Financial highlights

• Net loss for the year ended 30 June 2024 was $8.19 million, compared to a $6.76 million loss in 2023.

• Exploration expenditure expensed: $5.66 million (2023: $4.60 million).

• Share-based payments expense: $1.24 million (2023: $0.78 million).

• Cash and cash equivalents at year-end: $5.32 million (2023: $5.77 million).

• No dividends declared or paid.

Outlook and guidance

• Continued focus on Australian exploration, especially at Greater Fosterville and new NSW projects.

• Ongoing efforts to secure land access and heritage agreements to unlock further drilling.

• Intention to pursue additional value-adding exploration opportunities.