Financial Results for the Half Year ending 31 December 2024

On 26 February 2025, we released our Financial Results for the Half Year ending 31 December 2024 to the market. Highlights from the period included a significant improvement in financial performance and the progression of growth projects to plan.

Managing Director and Chief Executive Officer, Bryan Quinn spoke about the results, noting they were underpinned by a marked improvement in safety performance across the Group.

“The 34% improvement in our Total Recordable Injury Frequency Rate to 5.68 during the period demonstrates we can prevent recordable injuries when we take the time to plan and assess tasks before execution,” Bryan said.

“Our robust operating performance in terms of production and costs delivered an underlying EBITDA of A$49.7M, 53% higher than the prior period. And pleasingly, our balance sheet remains strong with operating cash flow funding all growth capital.

“The team at Federation achieved key milestones with the mining of the first stope in Q1 and the successful processing campaign of Federation ore through the Peak processing plant in Q2. The team are now focused on ramping up the operation to deliver the project on time and within the approved budget, through good operating discipline and prudent capital investment,” Bryan continued.

“Strategically, Aurelia remains on track to grow in the Cobar region with increasing copper equivalent production. Increasing tonnes processed at Peak from 700kt in FY25 towards 1.1-1.2Mtpa will deliver significantly more cash flow and profits from our business.

“I want to take the time to thank our employees and contract partners for their contribution to our half year results. We will remain focused on the execution of our strategy to ‘fill our mills’ to the benefit of our shareholders in the short and medium term,” Bryan concluded.

Visit the ‘Investor centre’ page to see the full financial result and presentation.