WIA Gold (WIA) H2 2024 earnings summary

Executive summary

• Focused on gold and base metals exploration in Namibia and Côte d'Ivoire, with Kokoseb Gold Project in Namibia as a key asset.

• Updated Kokoseb Mineral Resource Estimate (MRE) to 2.12 Moz at 1.0 g/t Au, a 63% increase year-over-year.

• Raised $27.8 million to fund further exploration and resource growth.

• Appointed Josef El-Raghy as Executive Chairman in April 2024.

Financial highlights

• Net loss before tax: $3.61 million for FY2024, compared to $1.52 million in FY2023.

• Share-based payments expense increased to $2.11 million from $0.62 million year-over-year.

• Cash and cash equivalents at year-end: $15.05 million, up from $1.22 million.

• Total assets: $43.77 million at 30 June 2024, up from $17.23 million.

• No dividends declared or paid during the year.

Outlook and guidance

• Continued aggressive exploration at Kokoseb and Côte d'Ivoire projects, aiming for further MRE growth and classification upgrades.

• Ongoing drilling at Bouaflé and Issia projects in Côte d'Ivoire, with new gold corridors identified.