Austral Gold (AGD) Q4 2024 TU earnings summary

Executive summary

• Q4 2024 gold equivalent production at Guanaco increased 8.5% sequentially to 3,669 GEOs, but was down 30.2% year-over-year.

• Full-year 2024 production totaled 15,573 GEOs, below the revised forecast due to equipment repair delays.

• Casposo Mine in Argentina remained on care and maintenance, but a toll processing agreement was executed for future operations.

Financial highlights

• Q4 2024 sales revenue was US$10.0 million, with 96.8% from gold and an average selling price of US$2,658/GEO.

• Cash at quarter-end was US$3.6 million (US$4.9 million including unrefined GEOs).

• Net consolidated financial debt rose to US$23.0 million, up US$2.5 million from Q3 2024.

• Net current liabilities decreased by US$13.2 million to US$5.7 million, mainly due to new debt financing and extended maturities.

• Operating cash flow after working capital changes was a deficit of US$1.7 million in Q4 2024.

Outlook and guidance

• 2025 production guidance: 18,000–20,000 GEOs, C1 cost US$1,500–1,700/oz, AISC US$1,700–2,000/oz.

• Higher production expected in H2 2025, targeting 1,800 GEOs/month from Q3 2025.

• Casposo Plant refurbishment underway, with toll processing operations anticipated to start in H2 2025.