Focus Minerals (FML) H1 2026 earnings summary

Executive summary

• Achieved profit after tax of $85.82 million for H1 2026, compared to $221.40 million in H1 2025, which included a $207 million gain from the Laverton Gold Project sale.

• Principal activities included exploration, mine development, operations, and ore processing in Western Australia.

• Three Mile Hill plant processed 705,386 tonnes of ore, with gold sales of 30,997 ounces at an average price of A$6,768/oz.

• Open pit and underground mining advanced, with significant drilling and development at Bonnie Vale, Greenlight, and Patricia Jean.

Financial highlights

• Revenue from contracts with customers rose to $256.37 million, up from $77.73 million year-over-year.

• EBITDA for H1 2026 was $142.57 million, compared to $21.83 million in H1 2025.

• Net assets increased to $453.89 million as of 30 June 2026, from $368.08 million at 31 December 2025.

• Cash balance at period end was $122.15 million, with $94.90 million in short-term deposits.

• Basic EPS from continuing operations was 29.95 cents, up from 4.96 cents year-over-year.

Outlook and guidance

• Dreadnought pit ore production expected to ramp up in H2 2026.

• Further drilling at Bonnie Vale and Greenlight scheduled for September 2026, with resource estimates pending.

• Focus on progressing Greenlight and Patricia Jean deposits toward production readiness.