Half Yearly Report and Accounts

• Net profit after tax from continuing operations of $5.9m
• Underlying EBITDA from continuing operations of $10.6m
• Progressing development of Lucky Bay Garnet and Ant Hill/Sunday Hill manganese projects

Resource Development Group Limited (RDG) reported a net profit after tax from its continuing operations of $5.9m (2023: $6.2m) for the half-year ended 31 December 2024. Its underlying Earnings before interest, depreciation, amortisation, and taxation (EBITDA) from its continuing operations for the period was $10.6m (2023: $10.2m). The Group's operating cash inflow was $11.9m (31 December 2023: $13.4m) and outflows from investing activities, largely related to mine development, was $12.8m, resulting in cash at bank at 31 December of $5.9m (30 June 2024: $8.3m). The Group is now in the final stage of completing its modifications and upgrade works at its Lucky Bay Garnet mine, as it advances towards commercial production. Sales activity is rising steadily as production volumes start to increase. Several large projects were also completed during the period by the Central Systems Pty Ltd (Centrals) business in the northwest of Western Australia. Research and development activities continued at the company's pilot plant facility, including the focus on further developing the technology to extract high value products from waste red mud and refining the process to produce High Purity Manganese Sulphate Monohydrate, a battery mineral.

The company is focused on growing its Lucky Bay Garnet business and ensuring nameplate capacity is achieved at its plant during the second half of FY25. It is also progressing approvals on its Ant Hill/Sunday Hill manganese project and continuing to refine the production of High Purity Manganese Sulphate Monohydrate (HPMSM), a critical battery mineral.

The company's key strategic focus continues to be growing its Lucky Bay Garnet business and ensuring nameplate capacity is achieved at its plant is reached during the second half of FY25. It is also progressing approvals on its Ant Hill/Sunday Hill manganese project and continues to refine the production of High Purity Manganese Sulphate Monohydrate (HPMSM), a critical battery mineral. The company will also continue to actively pursue and deliver construction projects for its long-term customers and develop and advance the technology to produce high value products from waste red mud.