Market Alert: ASX200 at Critical Support – Reversal or Further Fall?
Echelon Resources (ASX: ECH) delivered solid financial and operational growth in the six months to 31 December 2024. Revenue rose 12% to AU$53.3 million, while operating cash flow increased 30% to AU$25.1 million. Production surged 21% following the acquisition of an additional 25% stake in the Mereenie field. Shareholder NPAT, excluding exploration expenses, was up 30% to AU$8.4 million, though overall group NPAT declined due to higher exploration costs.
The company declared an interim dividend of AU$1.5 cents per share, totaling AU$3.4 million. CEO Andrew Jefferies highlighted the success of the Mereenie well campaign and strategic investments positioning Echelon for future growth. Despite exploration setbacks, diversified assets and strong market prices continue to support earnings. Upcoming projects include drilling at the Perth Basin, Mahato, and additional Mereenie wells, reinforcing the company’s commitment to sustainable growth.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
