Aurelia Metals (AMI) Q3 2026 earnings summary

Executive summary

• Delivered strong operational and financial performance in the March quarter, exceeding expectations and setting up for continued success in FY 2026 and beyond.

• Achieved higher gold production of 13.0koz for the quarter, driving free cash flow and improved liquidity.

• Upgraded FY26 gold production guidance to 45–50koz, reflecting prioritization of higher value gold ore.

• Major growth projects, including Peak Plant upgrades and Great Cobar development, are progressing on schedule.

• Balance sheet strengthened, with safety programs delivering positive results.

Financial highlights

• Free cash flow generated in the quarter, with cash balance rising to AUD 94.7 million (excluding restricted cash).

• Gold production for the quarter was 13.0 koz, with year-to-date at 35.0 koz; revised FY26 guidance is 45–50 koz (previously 35–45 koz).

• Group operating costs for the quarter were $76.7M, with year-to-date at $220.5M; FY26 guidance is $275–315M.

• Cobar Region operating cash flow reached AUD 36.2 million, driven by strong gold production and favorable metal prices.

• Revenue mix for the quarter: Gold/Silver 60%, Zinc 21%, Lead 11%, Copper 8%.

Outlook and guidance

• FY26 gold production guidance raised to 45–50koz (previously 35–45koz); copper guidance reduced to 2.5–3.0kt.

• Growth capital guidance for FY26 lowered to $45–60M (previously $60–75M) due to project deferrals.

• Optimisation Projects capital guidance reduced to $15–20M.

• No anticipated cost increases from Middle East crisis; cost guidance maintained.

• Targeting 40kt copper equivalent production in FY28.