Bathurst Resources Limited (BRL) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Coming along to the quarter three FY25 update. Hopefully you can see this on the screen. I'll be running through the presentation that was released today. Just using that as a guide, really, the key thing. This will really let you know what we're up to with the projects as much as anything else. So... Standard disclaimers. uh we're as of um yesterday we had a 72 cents share price about 173 million a market cap uh enterprise value is up a little bit at 21 australian dollars obviously on the back of the capital raise that was successfully done you know the end of march into april Thanks very much for the people that backed into that, the combination of the placement and the SPP, realising that there was probably some people were seeing value in the SPP being it pretty much par when we kicked it off. But, you know, having done the placement at 74 cents, we believed it was the right thing to do for all shareholders to offer that opportunity to others. But obviously it's not a large discount, so it may not have been attractive to some. but it really has set us up now to take forward the projects that we'll discuss more as we go further forward today. It fits very much in with our standard strategy. We've got good profitable operations, both 100% owned by Bathurst, but also through the BT Mining Joint Venture with Stockton, Maramuru and Rotowara. You know, we've got growth projects that are associated with each of those, but we've also got projects that are outside of that, which are 100% owned by Bathurst. that are going to add to a larger overall tonnage of coking coal being sold in the international market and generating incremental free cash for Bathurst. And then part of that is then looking at returning free cash back to shareholders, both in the form of dividends bu...