Aruma increases revenue amid ‘high-grade’ H2 results

Aruma Resources (ASX:AAJ) increased the total revenue and other income to about $1.204 million in the 6 months to 31 December 2023, according to its latest financial report. 

While the company’s total value of assets had also increased slightly in H2 2023 to more than $3.492  million, Aruma had incurred a slight after-tax loss of $206,710. 

As of 31 December, the company had just over $2.075 million cash and cash equivalents at hand. 

Subsequent to the reporting date, Aruma received about $1.146 million under the Research and Development (R&D) tax incentive scheme for 2023. 

During H2 2023, Aruma focused on the appraisal and exploration of its entire project portfolio. 

At the Salmon Gums Gold Project in Western Australia, drilling was conducted which delivered ‘high-grade’ gold results, as previously reported by Mining.com.au.

The company also continued systematic exploration work at its Saltwater Project, with soil sampling returned ‘high-grade’ rare earth element results, as well as highlighting multi-commodity prospectivity of the project. 

Further, a maiden surface sampling program was carried out at Carter Well in Western Australia. 

Aruma Resources is a minerals explorer focused on the discovery and development of its portfolio of prospective gold and lithium projects in Western Australia. 

Write to Aaliyah Rogan at Mining.com.au   

Images: Aruma Resources
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.