Stellar Resources (SRZ) H2 2024 earnings summary

Executive summary

• Transformational year with strong capital raising of $11.86 million, plus $2.6 million post-year end, strengthening the balance sheet and enabling project advancement.

• Heemskirk Tin Project advanced with updated scoping study, robust economics, and commencement of prefeasibility study.

• Board and management restructured to support project development, including new Non-Executive Chair and key technical appointments.

• Significant exploration success at North Scamander Project with high-grade polymetallic discovery.

Financial highlights

• Net loss after tax for FY24 was $2.25 million, improved from $3.33 million in FY23, mainly due to lower exploration expenses.

• Cash balance at 30 June 2024 was $10.4 million, up from $1.56 million in FY23, driven by capital raisings.

• Net assets increased to $10.66 million from $1.74 million year-over-year.

• No dividends declared or paid.

Outlook and guidance

• Focus remains on advancing the Heemskirk Tin Project through prefeasibility and further drilling.

• Continued exploration at North Scamander and other NE Tasmania projects.

• Ongoing efforts to secure additional funding for project development and exploration.