Record Financial Performance
The company reported record profits and headline earnings per share, with an 80% increase in proposed dividends year-on-year in U.S. dollar terms. Revenue increased by 45% to $540 million, and adjusted EBITDA rose by 60%.
Successful Project Developments
MTR was brought into production ahead of schedule and below budget, with a life of almost 20 years and a production of 60,000 ounces per annum. Tennant Mines in Australia reached steady-state throughput in July, just after the year-end.
Debt Reduction and Strong Cash Flow
The company repaid almost $80 million in debt, reducing net debt by 35% to $151 million in six months. The group is expected to be fully degeared before the end of the 2026 financial year.
Production Increase and Cost Management
Gold production increased by 6% to just under 200,000 ounces, with guidance for the next financial year set at 275,000 ounces or more. Production costs and all-in sustaining costs are expected to decrease in real terms.