ActivEX (AIV) H2 2024 earnings summary

Executive summary

• Achieved substantial progress in exploration, focusing on critical minerals such as rare earth elements, uranium, and gold, despite challenging market conditions.

• Queensland tenement holding remains robust with 16 granted EPMs and 1 application, covering 1,923 km².

• Exploration efforts led to significant discoveries at Gilberton Gold Project (uranium and REE), Aramac REE Project, and ongoing interest in Esk Copper and Gold Project.

• $5 million loan facility with Star Diamond Developments extended to April 2026, with $2.84 million undrawn.

• Strategic focus on advancing high-potential projects and divesting non-core assets.

Financial highlights

• Operating loss before tax for FY2024 was $2,700,814, up 174% from $984,068 in FY2023.

• Capitalised exploration expenditure for the year was $398,753, down from $794,835 in the prior year.

• Major expenses included $1,646,515 in impairment losses, $219,230 loss on disposal of exploration assets, and $259,408 in interest expense.

• No dividends paid or proposed for the year.

• Net assets at 30 June 2024 were $3,226,149, down from $5,926,963 at 30 June 2023.

• Cash and cash equivalents at year-end were $53,334.

Outlook and guidance

• Priorities include advancing mineral projects toward resource definition and maintaining financial discipline.

• Continued focus on copper/gold projects and joint ventures, with divestment of non-core assets under consideration.

• Ongoing need to raise additional funds to support exploration and operational activities.