The leading copper and gold exploration company in Kazakhstan East Star Resources PLC published its financial report for the fiscal year that ended in 2024.
The company demonstrated substantial progress in its exploration activities which emphasises its dedication to creating long-term value for stakeholders while maintaining strong fiscal performance.
Financial Overview
Reduced Pretax Loss
The company posted a decreased pretax loss amounting to £1.1 million for 2024, down from £1.5 million the year before.
Elevated Administrative Expenses
Administrative expenses rose 95% to £1.4 million due to expanded operational activities and strategic growth investments.
Lower Impairment Costs
Impairment costs fell dramatically from £1.1 million in 2023 to £62,000 in 2024, reflecting stronger asset management.
Successful Fundraising
East Star generated £1.2 million via subscriptions from key shareholders, directors and a resource-focused institution to fund its Kazakhstan programmes.
No Revenue for the Year
The company reported no revenue in 2024, consistent with its exploration-phase profile.
Highlights from Kazakhstan Exploration Initiatives
Maiden JORC Mineral Resource Estimate at Verkhuba
A first JORC-compliant Inferred Mineral Resource Estimate at Verkhuba revealed 20.3 million tonnes at 1.16% copper, 1.54% zinc and 0.27% lead.
Diamond Core Drilling at Verkhuba
Three drill holes completed by December 2024 all intercepted ore-grade mineralisation, underlining Verkhuba’s prospectivity.
Induced Polarisation Surveys on VMS Licences
IP surveys on Talovskoye and Nikolovskoye East licences yielded strong chargeable anomalies, opening up new drilling targets.
Copper Porphyry Exploration with BHP Xplor Grant
A $500,000 BHP Xplor grant kick-started porphyry exploration, leading to multiple promising target identifications.
Joint Venture with Getech Group Plc
The JV with Getech Group Plc allows exploration of sediment-hosted copper deposits with no upfront capital requirement.
Strategic Outlook for 2025
Drilling & Geophysical Surveys
East Star will press ahead with drilling and geophysical surveys across multiple Kazakhstan licences to refine resource boundaries.
Advancing Verkhuba
Verkhuba will be prioritised with further resource development to unlock value in this flagship asset.
Expanding High-Potential Targets
The team will chase priority anomalies discovered through IP surveys and partnerships to broaden its exploration pipeline.
Positioning as a Sector Leader
With strong programmes and strategic alliances, East Star aims to lead in copper exploration amid rising demand for critical metals.
East Star Resources PLC successfully maintains its commitment to unlocking Kazakhstan’s resource potential alongside generating lasting shareholder value. This growing sector participant deserves close monitoring in 2025.
