Rupert Resources Ltd (RUP) Q1 2024 earnings summary

Executive summary

• Published unaudited financial results for the three months ending May 31, 2024, and released the 2023 Sustainability Report.

• Focus remains on advancing the Ikkari Pre-Feasibility Study (PFS), expected in Q4 2024.

• Terminated discussions regarding the Fingold JV to concentrate on core assets.

Financial highlights

• Spent $11.0 million on exploration projects during the quarter ending May 31, 2024.

• Held $26.7 million in cash or cash equivalents as of May 31, 2024.

• Reported a net loss and comprehensive loss of $(745,826) for the quarter, with a net loss per share of $(0.01).

Outlook and guidance

• Ikkari PFS is on track for publication in Q4 2024, with a Feasibility Study to follow upon successful completion.

• Environmental Impact Assessment (EIA) report documents for Ikkari are planned for filing in the first half of 2025.