Strong Production and Cost Management
Produced 647,000 ounces of gold in H1 2025 at an average all-in sustaining cost (AISC) of $1,281 per ounce, representing a 16% improvement in throughput year-over-year.
Record Free Cash Flow Generation
Generated $514 million of free cash flow in H1 2025, equivalent to $794 per ounce produced, despite paying 70% of the 2025 tax bill in the first half.
Shareholder Returns
Announced a record first half dividend of $150 million, supplemented with $69 million of share buybacks, bringing total shareholder returns to $219 million for H1 2025.
Strong EBITDA and Margin Improvement
Adjusted EBITDA increased by 35% to nearly $1.2 billion in H1 2025, with an adjusted EBITDA margin increase of 5 percentage points to 57%.
Balance Sheet Strength
Reduced net debt to $469 million, decreasing leverage to 0.23x net debt to adjusted EBITDA, significantly below the target of 0.5x.
Exploration Advancements
Significant progress on the Assafou Project and other exploration programs, with promising results at several mines including Ity and Sabodala-Massawa.