September Quarter 2025 Results

On 21 October 2025, we released our September Quarter 2025 results, and the Group 2025 Mineral Resource and Ore Reserve (MROR) and Production Target Statement to the market.

Highlights from the first quarter of FY26 included a strong start to production and costs, the continued ramp up of Federation, and ongoing Peak productivity improvements.

Speaking about the quarter, Managing Director and Chief Executive Officer, Bryan Quinn said it was a pleasing start to the year.

“Our production and costs are tracking in line with our plan, building on the consistent improvement of our operating performances in FY24 and FY25.

“Operational improvement projects are also progressing and we’re starting to realise their benefits in relation to development advances, material movements and cost efficiencies. And our cashflows are poised to benefit from strong commodity prices as our volumes continue to ramp up throughout the year,” Bryan said.

“The Great Cobar Project commenced during the quarter and is delivering in line with our commitments, with 448m of development already completed. Our focus on rapid development towards the orebody will also enable us to set up exploration platforms for further drilling into the area below the Mineral Resource.

“Mining at Federation continues to ramp up ahead of our budget year to date. It is particularly pleasing how well the material is performing in our Peak processing plant.

“With the transition to commercial production at Federation during the quarter, I would like to take the opportunity to recognise efforts of both the Aurelia project team and our contracting partners for delivering Federation within budget.

“As we look to the December quarter, our focus will remain firmly fixed on developing our copper growth options towards 40ktpa of copper equivalent production in FY28 and have outlined a clear pathway to achieving this.

“Turning now to the Group MROR and Production Target Statement, we were pleased to report strong growth in our mineral inventories. It reflects our strategy to create long-term value through disciplined exploration, robust mine planning and efficient operations. We were pleased to report a 12% increase in our Mineral Resource and a 17% increase in Ore Reserves, driven primarily by new copper-dominant tonnes.

“Looking ahead, we will continue to invest in targeted drilling programs across the portfolio and improve through operational excellence. We expect this to support further growth in Ore Reserves and Production Targets, particularly at Great Cobar and Federation, with the clear target of further extension of mine life in our base metal assets.

“Lastly, on behalf of our Board, I would like to thank all the Aurelia teams who were involved in today’s announcements. An incredible amount of hard work has gone into the delivery of these outcomes. I continue to be proud of your efforts, and your commitment to helping secure our future success,” Bryan concluded.

Visit the Investor Centre page to see the September quarter results and presentation, and the MROR and Production Target Statement.