Aurelia Metals Limited · ASX:AMI
Aurelia Metals — H1 FY2024 Earnings Presentation
16 slides from Aurelia Metals's earnings presentation, Feb 28, 2024
Slide 1: Half Year FY24 Financial Results
ASX Code: AMI HALF YEAR FY24 FINANCIAL RESULTS 28 FEBRUARY 2024
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation has been prepared by Aurelia Metals Limited (‘AMI’ or the ‘Company’). It should not By its very nature, production and exploration for gold and base metals is a high risk business and is be considered as an offer or invitation to subscribe for or purchase
Slide 3: Half Year FY24 Highlights
HALF YEAR FY24 HIGHLIGHTS Care | Curiosity | Nimble | One Team Material improvement in Debt free with significant operating margin cash balance Federation Project on track Exploration delivers on for first stope ore Q1 FY25 Cobar Basin prospectivity FY24 HALF YEAR FINANCIAL RESULTS | 28 FEBRUARY 202
Slide 4: Group Operational Summary
GROUP OPERATIONAL SUMMARY Increased H2 base metal production to achieve guidance H1 FY23 Key metric Units H1 FY24 H1 FY23 % change FY24 Guidance (excl Hera) Production volume Gold koz 31.7 44.2 (28) 37.4 60.0 – 65.0 Copper kt 0.9 1.1 (21) 1.1 2.0 – 2.3 Zinc kt 7.5 11.0 (32) 6.5 17.5 – 20.0 Lead kt 8
Slide 5: Group Financial Performance
GROUP FINANCIAL PERFORMANCE Material improvement in mine operating cash flow and margins Key metric Units H1 FY24 H1 FY23 % change Revenue A$M 147.3 192.7 (24) EBITDA A$M 31.0 12.3 153 EBITDA – underlying A$M 32.5 16.1 102 EBITDA margin – underlying % 22 8 165 Net Profit/(Loss) After Tax – statutory
Slide 6: Revenue Drivers
REVENUE DRIVERS Higher gold prices offset lower sales volumes Revenue waterfall analysis (A$’M) • Prior period included A$39.7M of revenue for Hera (now closed) • Higher realised gold prices more than offset lower volumes sold, primarily at Peak Sales volume by metal (A$’M) 2 • Mix of ore processed
Slide 7: EBITDA & NPAT
EBITDA & NPAT EBITDA (A$’M) Sustained improvement in margins Peak A$11.8M Dargues A$5.4M • Group EBITDA Margin – underlying increased from 8% to 22% • Peak EBITDA improved due to materially lower operating costs, despite lower revenue • Dargues EBITDA benefited from stronger gold prices H1 FY24 NPAT
Slide 8: Balance Sheet Transformed
BALANCE SHEET TRANSFORMED Over A$160M of available liquidity to deliver growth • Peak and Dargues fully funded the growth capital and H1 FY24 cash flow1 (A$’M) ~36 ~163 exploration for the half • Cash flow expected to improve in second half • Federation spend of A$29.1M for the half. Guidance of A$7
Slide 9: Peak
PEAK Turnaround journey continues • Maintain development metres ahead of stoping • Implement productivity initiatives to increase mining rates (e.g. shaft cage riding) • Targeting further unit cost reductions • Upgrade North Mine services infrastructure • Operational readiness underway to process Fe
Slide 10: Dargues
DARGUES Maximising cash generation • All mine development is now complete • Hedges lock in high gold price for remaining production • Retention of talent to redeploy to Cobar Region • Mine closure planning activities commenced • Additional value to be realised from sale or repurpose of process plant
Slide 11: Federation Progress Update
FEDERATION PROGRESS UPDATE First stope ore remains on track for Q1 FY25 • First raisebore shaft completed, installation of ventilation fans in progress • Construction of second raise bore underway approx 70% reamed • Burthong Road sealing remains on track for completion in February • Permanent elect
Slide 12: Exploration Update
EXPLORATION UPDATE Results reaffirm prospectivity of our Cobar tenements • Successful drill programs conducted at Peak Mine – Results at Perseverance1 and Chesney2 identified mineralised zones close to existing underground infrastructure – Will potentially add to Peak’s already significant 19.0Mt Mi
Slide 13: Aurelia Metals Value Proposition
AURELIA METALS VALUE PROPOSITION Developing and operating a premier base metals business in a Tier 1 region Extensive Mineral Resource base of 26.1Mt1 in the Cobar Region, with highly prospective exploration potential Established processing infrastructure with existing 1.2- 1.3Mt of capacity Tra
Slide 14: Contact
CONTACT T: +61 7 3180 5000 E: office@aureliametals.com.au Level 17, 144 Edward Street BRISBANE QLD 4000 GPO Box 7 BRISBANE QLD 4001 aureliametals.com Photo: Peak underground crusher
Slide 15: H1 FY24 Financial Performance
APPENDIX | H1 FY24 FINANCIAL PERFORMANCE 31-Dec-23 31-Dec-22 Change Underlying net profit/(loss): A$’000 A$’000 % Net profit/(loss) before income tax 665 (42,667) 102 Notes: Add back: (i) Underlying net profit/(loss) reflects the statutory net Business restructuring expense - 4,584 (100) profit/(los
Slide 16: Aurelia Snapshot
APPENDIX | AURELIA SNAPSHOT SHAREHOLDER REGISTRY COMPOSITION AS AT 31 JAN 2024 ASX: AMI Share price (27 February 2024) A$0.135 Shares on issue 1,689.8 M Market capitalisation A$228.1 M 17.2% Australian institutions Net cash (31 December 2023)1 A$101.6 M International institutions Directors & employe