Aurum Resources (AUE) H2 2024 earnings summary

Executive summary

• Acquired PlusOr Global Pty Ltd for $6.78m, expanding into Côte d'Ivoire with four gold tenements covering 1,037km².

• Aggressive exploration with six company-owned diamond drill rigs, drilling over 21,500m across BM and BD tenements.

• Divested non-core Australian projects (Ryans Find and Penny South) to focus on West African gold assets.

• Raised approximately A$27m through three capital raisings and a share purchase plan.

• Key management changes: Dr Caigen Wang appointed Managing Director, Mark Strizek as Executive Director.

Financial highlights

• Net loss after tax: $(2,138,026) for FY24, compared to $(1,207,396) in FY23.

• Cash and cash equivalents: $10,815,351 as of 30 June 2024.

• Net assets: $21,228,931 at year-end, up from $2,160,615 in FY23.

• Other income: $21,595 for FY24.

• Basic and diluted loss per share: (3.69) cents, improved from (4.02) cents in FY23.

Outlook and guidance

• Main exploration focus will remain on the Boundiali Project in Côte d'Ivoire.

• Continued aggressive drilling and resource definition planned for FY25.