Bryah Resources Half Year Report 31 December 2022

Bryah Resources Limited (ASX: BYH, “Bryah” or “the Company”) is pleased to present its Half Year Report.

Directors Report

Your directors submit the financial report of Bryah Resources Limited (“the Company”) for the half-year ended 31 December 2022. This report should be read in conjunction with announcements to the Australian Securities Exchange (ASX). In order to comply with the provisions of the Corporations Act 2001, the directors report as follows:

Directors

The names of the Directors who held office during or since the end of the half-year and until the date of this report are noted below. Directors were in office for this entire period unless otherwise stated:

• Ian Stuart - Non-executive Chair
  
• Leslie Ingraham - Non-executive Director
• Brian Davis - Non-executive Director

REVIEW OF OPERATIONS

Corporate

The net loss for the half-year attributed to members of Bryah Resources Limited was $737,199 (2021: profit of $1,113,845).

During the half year the Company issued the following securities following a successful placement to sophisticated investors. The placement was largely taken up by existing shareholders which was the top 20 % rise from 43% to 50.1%. A general meeting was held on 12 October 2022 and the Annual General Meeting of shareholders was held on 23 November 2022:

• 53,046,299 New Shares under the Placement raising $1,432,250 (before costs) was completed on Friday 12 August 2022.
  
• 2,000,000 unlisted options, exercisable at $0.054, and expiring 3 years from the date of issue for the role as lead manager of the Placement, Spark Plus (Australia) Pty Ltd (or its nominee(s))

Projects

The Company is a copper-gold and manganese focused explorer with three projects. Two are located near Meekatharra, Western Australia, being the Bryah Basin Project and the Gabanintha Project. One is located near Lake Johnston, approximately 400 km east of Perth and 200 km southwest of Kalgoorlie in Western Australia. (Figure 1).

Figure 1 Location of Projects

Bryah Basin Projects

The Bryah Basin project covers approximately 1,048km² in central Western Australia. The project is located close to several mining operations including the high-grade Volcanogenic Massive Sulphide (VMS) DeGrussa copper-gold mine operated by Sandfire Resources NL (ASX: SFR) and the Fortnum gold mine operated by Westgold Resources Limited (ASX: WGX).

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