Key facts about Brockman Mining Limited (ASX: $BCK) interim results

Brockman Mining Limited (ASX: $BCK) has announced its unaudited consolidated interim results for the six months ended 31 December 2023. The company recorded a net loss before tax of HK$13,206,000 for the period, with operating cash outflows of HK$10,813,000. The Group's net current liabilities stood at HK$58,723,000 at 31 December 2023. The company's cash and cash equivalents amounted to HK$7,076,000 as at 31 December 2023.

Executive commentary on financial performance and future outlook

The Group's loss before tax for the period was primarily attributable to the exploration and evaluation expenses of the Group's iron ore exploration projects and corporate overhead costs. The company has taken measures to improve its liquidity position, including extending the repayment date of a substantial shareholder loan and drawing down on a revised loan facility. The directors believe that the Group will have sufficient financial resources to satisfy its future working capital requirements and meet its financial obligations for the next twelve months. However, there remains material uncertainty about the Group's ability to continue as a going concern.

Summary of Brockman Mining Limited's interim results and outlook

Brockman Mining Limited (ASX: $BCK) reported a net loss before tax of HK$13,206,000 for the six months ended 31 December 2023, primarily driven by exploration and evaluation expenses and corporate overhead costs. The company has taken steps to improve its liquidity position, including extending loan repayment dates and drawing down on a revised loan facility. The directors believe that the Group will have sufficient financial resources to meet its obligations for the next twelve months, but there remains material uncertainty about the Group's ability to continue as a going concern. The Group's future developments are focused on the advancement of its iron ore projects in Western Australia, with a commitment to environmental, social, and governance responsibilities.