Kingsgate Consolidated (KCN) Q1 2027 TU earnings summary

Executive summary

• Chatree produced 14,802 oz of gold and 187,925 oz of silver amid the Plant 1 interruption and heavy rainfall; management expects improved mining flexibility and a stronger H2 FY27.

• Quarter-end total cash, bullion and doré was A$169.1m, including restricted cash; the unrestricted cash balance rose 27% QoQ to A$108.9m.

Financial highlights

• Gold sales were 17,339 oz at pre-royalty AISC of US$1,547/oz sold; Chatree generated A$26.8m of net mine cash flow, excluding a positive A$13.5m working-capital adjustment.

• Gold and silver sales totalled A$122m; available cash and bullion declined to A$141.4m from A$153.1m, reflecting lower bullion holdings and investment in growth initiatives.

• Total capital incurred was A$29.9m: A$21.5m major capital and A$8.4m sustaining capital.

Outlook and guidance

• FY27 Chatree guidance: 75–85 koz gold, 650–750 koz silver, 82–93 koz AuEq; gold production is expected to be weighted to H2.

• FY27 AISC guidance is US$1,650–1,850/oz sold before royalties, with sustaining capital of ~A$30m; cost assumptions include lower production, planned 2027 Plant 1 maintenance and inflation in diesel and reagents.

• Ore volumes and grades are expected to improve in H2, trending toward average Ore Reserve grade by Q4; A-East cutback is intended to add an ore source for FY28.

• Approximately 3,000 oz of production was deferred to FY28 following a localised movement affecting the A-Pit main ramp; elevated waste stripping is expected through the December quarter.