Talisman Mining (TLM) H2 2024 earnings summary

Executive summary

• Advanced exploration at Lachlan (NSW) and commenced work at Mabel Creek (SA), with new tenement Yarindury (NSW) added post-year-end.

• Significant discoveries at Durnings and Rip N Tear prospects, with high-grade base and precious metal intersections.

• Maintained strong funding via $7.8M in Wonmunna iron ore royalties, supporting ongoing exploration.

• Ended FY24 with $4.9M cash and $0.3M investments; net assets at $8.0M.

Financial highlights

• FY24 revenue and other income: $9.5M (up from $7.7M in FY23), mainly from Wonmunna royalties.

• Net loss after tax: $2.9M (FY23: $0.1M profit), driven by increased exploration spend.

• Cash and cash equivalents at 30 June 2024: $4.9M (down from $9.8M in FY23).

• Total assets: $9.4M; total liabilities: $1.5M.

• No dividend declared for the year.

Outlook and guidance

• Ongoing systematic exploration at Lachlan, Mabel Creek, and Yarindury, funded by royalty income.

• FY25 Wonmunna royalty guidance: 9.0–10.0Mt iron ore sales by MinRes.

• Planned drilling at Durnings and Yarindury in FY25.