Strong production and unit costs (H1)
Produced 188,841 ounces in the 6 months with an all-in site cost of $1,649/oz and a cash margin of $1,592/oz.
Significant realized gold price uplift
Average gold price achieved was $3,241/oz, up 38% versus the comparative period, supporting margins despite lower production volumes.
Healthy cash generation and balance sheet
Generated notional cash flow of $301 million and ended the half with $755 million in cash and bullion; group net cash from operations was $194 million for the half.
Revenue and EBITDA
Revenue for the 6 months was $608 million (up 5% year-on-year) and EBITDA of $316 million.
Interim dividend doubled
Interim dividend of $0.05 per share approved, up 100% on the December 2025 interim dividend (demonstrating cash return to shareholders).
Improved liquidity and financing
Refinanced and upsized debt facility from $300M to $400M (with a $100M accordion); combined with cash and undrawn facility provides close to $1.2 billion of liquidity.
Material reserve upgrade at Nyanzaga
Nyanzaga ore reserve increased to 4.0 million ounces, a 73% increase from 2.3 million ounces (Apr 2025). Mine life extended to 16 years with >200,000 ozpa production expected for 14 of those years.
Nyanzaga project progress
Feasibility / construction progress: steel erection commenced, pre‑stripping at Tusker commenced; on track for first gold pour in January 2027. Life-of-mine AISC for Nyanzaga estimated at $1,621/oz (using $3,000/oz long-term price).
Capital investment and disciplined deployment
Invested $175 million in growth projects and exploration in the half (approx. $150M to growth capital: Nyanzaga, CMA underground, Bagway; ~$25M in exploration).
Portfolio scale and resource base
Group ore reserves reported at 6.69 million ounces (plus additional foreign estimates referenced), reinforcing a diversified multi‑jurisdiction portfolio.
Economic and social contributions
First half economic contribution reported at $484 million across host countries, including $308 million local procurement and $144 million taxes and royalties; workforce is ~95% from host countries.