Fitzroy River Corporation Ltd (ASX: $FZR) activities report summary

Fitzroy River Corporation Ltd (Fitzroy, FZR or Company) has released its activities report for the quarter ended 31 March 2024. The company reported royalty income of $152,726 from the Weeks Royalty and provided updates on various projects, including the Bowden's Silver Project, Snowy River Gold Project, and Sam's Creek Gold Project.

Executive Commentary on Quarterly Activities

The Company is pleased to report on its activities during the quarter ended 31 March 2024. We received royalty income of $152,726 from the Weeks Royalty, and despite the suspension of operations, we remain optimistic about the potential of our projects such as the Bowden's Silver Project, Snowy River Gold Project, and Sam's Creek Gold Project. We are targeting the completion of a Mineral Resource and Reserve Estimate Updates and Feasibility Study Optimisation for the Bowden's Silver Project during the September Quarter, with a Final Investment Decision expected late 2024. Additionally, we are pursuing various funding options for the purchase of the Snowy River Gold Mine from Oceana Gold Limited. Our Sam's Creek Gold Project currently holds a JORC 2012 Mineral Resource Estimate of 9.1Mt @ 2.8g/t Au for 824koz of contained gold. We continue to monitor our investments in Byron Energy Limited and Spark New Energies Pty Ltd, and we are committed to providing transparent and accurate information in compliance with our continuous disclosure obligations under Australian law.

Summary of Quarterly Activities and Outlook

Fitzroy River Corporation Ltd reported royalty income of $152,726 from the Weeks Royalty and provided updates on various projects. The Company remains focused on the completion of the Feasibility Study Optimisation for the Bowden's Silver Project and the potential purchase of the Snowy River Gold Mine from Oceana Gold Limited. With a JORC 2012 Mineral Resource Estimate of 9.1Mt @ 2.8g/t Au for 824koz of contained gold at the Sam's Creek Gold Project, the Company is optimistic about its future prospects. Despite the suspension of operations, the Company continues to monitor its investments in Byron Energy Limited and Spark New Energies Pty Ltd. The ongoing Ukraine conflict and instability in the Middle East may impact the Company's royalty receipts, and the Company remains committed to complying with its continuous disclosure obligations under Australian law.