Ricca Resources

Ricca have finally uploaded their 2024 accounts to ASIC (though not the Ricca website).
There is still no Top 20 shareholders listed so it is not clear if DGR owns the shares it received when Ricca was spun out of Atlantic (A11) but we owned 10% of Atlantic at the time.

Wonder who the ASX company is, DGR or A11??

If we don't own the shares, which is possible given they haven't been mentioned in any DGR reports since the spin out, would love to hear where they went!



Going Concern

The financial report has been prepared on a going concern basis which contemplates the continuity of normal business activities

and the realisation of assets and discharge of liabilities in the ordinary course of business. The Group has not generated

revenues from operations. For the year ended 30 June 2024, the Group generated a loss of $2,060,914 and incurred operating

cash outflows of $432,628. As at 30 June 2024, the Group had cash and cash equivalents of $951,029 and net liabilities of

$1,083,803. The events and conditions noted above indicate the existence of a material uncertainty that may cast significant

doubt about the Group’s ability to continue as a going concern and therefore the Group may be unable to realise its assets and

discharge its liabilities in the normal course of business. The Directors note the following with regards to the ability of the

Group to continue as a going concern:

The Directors have signed an exclusivity agreement with an ASX Listed Company and are actively working through

due diligence with a view of completing a transaction in H2 CY2025. It is anticipated that shareholder approval would

be required should the transaction proceed, which will ensure the continuation of exploration and evaluation

activities in Ivory Coast and the settlement of outstanding liabilities.

The Directors are confident that the transaction with the ASX Listed Company will complete and accordingly the going concern

basis of preparation for the financial report is appropriate.

The financial report does not include any adjustments relating to the amounts or classification of recorded assets or liabilities

that might be necessary if the Group does not continue as a going concern.