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    GTI Energy (ASX:GTR) announces half yearly results

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    GTI Energy (ASX:GTR) announced financial results for the half-year ended June 30, 2022.

    The activities of the Group and its subsidiaries during the half-year ended 30 June 2022 was to explore mineral tenements in the United States of America including Utah and Wyoming.

    No dividends have been declared, provided for or paid in respect of the financial period (30 June 2021: Nil).

    The group made a net loss after tax of $1,138,121 for the financial year half-year ended 30 June 2022 (30 June 2021: loss $373,971). At 30 June 2022, the group had net assets of $22,353,318 (31 December 2021: $16,121,634) and cash equivalents of $6,918,315 (31 December 2021: $4,754,013).

    GTI Energy holds 100% of ~35,000 acres (~14,000 hectares) across several groups of strategically located and underexplored mineral lode claims and 2 state leases, prospective for sandstone hosted uranium that is amenable to low cost, low environment impact ISR mining.

    The 2022 work programme commenced during February. Two mud rotary drill rigs were re-mobilised to complete the balance of the 100-drill hole exploration campaign at the Thor ISR uranium project in Wyoming's Great Divide Basin (GDB).

    The program's aim was to complete the remaining ~60 holes of a planned 50,000 foot (`15,000m) ~100-hole maiden drill program at Thor.

    Following the announcement the company?s share price fell 6.818%.

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