Kantra Copper (KAN) H1 2026 earnings summary

Executive summary

• Achieved first material net profit since production commenced at Kanmantoo Underground Copper Mine, with net profit after tax of $19.5 million for HY2026, up from $0.9 million year-over-year.

• Revenue rose 44% to $115.1 million, driven by higher copper production, increased gold and silver by-product revenue, and improved commodity prices.

• EBITDA nearly tripled to $34.8 million, reflecting strong operational leverage and higher throughput.

• No interim dividend declared for the period.

Financial highlights

• Net revenue from concentrate sales increased by $35.4 million to $115.1 million year-over-year.

• Net operating cash inflow was $32.4 million, with closing cash of $32.5 million.

• Total operating costs rose by $13.4 million to $80.6 million, mainly due to higher mining and processing activity.

• Basic earnings per share increased to 8.5 cents from 0.6 cents (post-consolidation basis).

Outlook and guidance

• Focus remains on sustaining the 1.8 Mtpa mining run rate, improving productivity, and maintaining cost discipline.

• Development and drilling to continue at Kavanagh, Nugent, and Emily Star, with Emily Star approved as a third underground mining front.

• Ongoing exploration and the Mutooroo Pre-Feasibility Study aim to extend mine life and build a longer-term copper production pipeline.