Aurelia Metals (AMI) H2 2025 earnings summary

Executive summary

• Achieved all key financial and operational guidance targets for FY 2025, returning to profitability with a net profit after tax of $48.9M and a 69% increase in EBITDA to $121.9M, driven by operational improvements and higher gold prices.

• Successfully ramped up production at Federation mine and commenced execution of the Great Cobar Project, both under budget and on schedule.

• Approved and commenced Peak Plant Optimisation, with major process plant upgrades underway.

• Completed final production and sustainable closure at Dargues, repurposed assets, and advanced exploration at Federation and Nymagee.

• Safety performance improved, with TRIFR reduced by 54% and no reportable environmental incidents.

Financial highlights

• EBITDA reached $121.9M, up 69% year-over-year, with a 35.5% margin; net profit after tax was $48.9M, reversing a prior year loss.

• Revenue increased 11% year-over-year to $343.5M, mainly due to higher gold prices.

• Group AISC margin increased 78% year-over-year to $2,024/oz; all-in sustaining cost held steady at $2,037/oz.

• Cash on hand at year-end was $110.1M, with $145M in liquidity and no drawn debt.

• Operating cash flow was $129.7M, up 29% from FY24, funding all growth capital.

Outlook and guidance

• Targeting self-funded growth to 40,000 copper equivalent tons by FY28, with all board-approved projects on track and base metals expected to dominate revenue.

• Federation Mine expected to contribute to free cash flow in FY26 as mining rates increase.

• Growth capital commitments expected to decrease from FY26 onwards.

• Key focus areas include increasing cash flow, disciplined capital allocation, and delivering project milestones.

• Committed to maintaining a strong balance sheet and disciplined capital delivery, with contingency plans in place.