Warriedar Resources (WA8) H1 2025 earnings summary

Executive summary

• Achieved a 99% increase in contained gold ounces at Ricciardo, with updated MRE of 947.5 koz Au as of November 2024, and significant new high-grade antimony discoveries across the Golden Range project.

• Completed major drilling programs at Ricciardo, M1, and Austin, resulting in substantial resource growth and high-grade gold and antimony intercepts.

• Advanced metallurgical testwork demonstrated high gold and antimony recoveries, supporting multiple viable processing pathways.

• Raised A$13.5 million in new equity and completed a non-core asset sale for A$2.0 million to fund exploration and development.

Financial highlights

• Net loss for the half-year ended 31 December 2024 was $4,536,849, a significant improvement from a $15,607,400 loss in the prior year period.

• Total comprehensive loss for the period was $3,943,160, including a $593,689 foreign currency translation gain.

• Cash and cash equivalents increased to $10,572,500 as of 31 December 2024, up from $3,501,453 at 30 June 2024.

• Net assets rose to $62,087,431 from $53,284,559 at 30 June 2024.

• Raised $13,532,428 from share issues, offset by $792,013 in share issue costs.

Outlook and guidance

• Ongoing drilling and exploration at Golden Range, Azure Coast, and Big Springs expected to further expand resources and support future development.

• Further metallurgical optimization and resource definition work planned, with a focus on both gold and antimony potential.

• Directors believe the group can continue as a going concern, supported by strong cash reserves and prudent expenditure management.