Aurelia Metals (AMI) H2 2026 earnings summary

Executive summary

• FY26 delivered operational and financial outperformance, with gold production exceeding revised guidance and base metals in line with expectations.

• Major projects advanced: Federation ramp-up, Great Cobar development, and Peak plant expansion, including commissioning of the Tailings Thickener and near-completion of the Tertiary Ball Mill.

• Mineral resources and ore reserves increased, supporting future growth and long-term operational sustainability.

• Appointment of new Managing Director and CEO, Steve Badenhorst, effective October 6.

• Achieved higher earnings, strong cash generation, and shareholder returns, with all growth projects funded from operating cash flow.

Financial highlights

• Revenue rose 40% year-over-year to AUD 480.2 million, with gold contributing 55%.

• EBITDA increased 55% to AUD 189.2 million; EBITDA margin improved to 39.4%.

• Net profit after tax up 69% to AUD 82.7 million; EPS also up 69% to AUD 0.0488.

• Operating cash flow from Cobar operations reached AUD 140.5 million, fully funding growth and exploration.

• Year-end cash balance was AUD 143.9 million, up from AUD 110.1 million, with no drawn debt.

Outlook and guidance

• FY27 production guidance: 1.05–1.15 million tonnes processed, gold 50,000–60,000 ounces, copper 2.5–3.5kt, zinc 26–34kt, lead 17–25kt.

• Group operating costs expected at AUD 340–375 million, with unit costs to drop 11–19% to AUD 300–330 per tonne processed.

• Sustaining capital guidance: AUD 65–75 million; growth capital and exploration: AUD 64–88 million.

• Indicative FY27 gross revenue projected at AUD 525–665 million, with operating cash flow before growth capital of AUD 120–215 million.

• Production volumes weighted to H2 after plant expansions; FY28 outlook anticipates continued strong gold and higher base metal output.