Metals Acquisition Limited (MTAL) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by and welcome to the Mac Copper Limited Q1 results call and webcast. All participants are in a listen-only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Mr. Mick McMullen, CEO. Please go ahead. Thank you very much. And thanks everyone for joining us on what is a busy reporting schedule given the shortened holiday period in Australia. I'm Mick McMullen, the CEO. I'll run through the presentation. I'm joined by our CFO, Mornay Engelbrecht, who will talk to some of the slides on the financials. This deck has been released on the ASX along with our quarterly report this morning. And as usual, we've got the disclaimers and everything at the front that you can all read at your leisure. So look, MAC copper at a glance, we get an enterprise value of around about 940 million US. We're sort of planning to get over 50,000 tonnes of copper in the not too distant future on an annual basis. Very strong balance sheet. Obviously, we've announced the refinancing of the debt that we did during the quarter. More now we'll run through that. And just so everyone's clear with you know, to make sure the market understands how many shares were an issue. 82 and a half million shares an issue about 3.18 million warrants at a strike of $12.50 US a share. The gearing under 20%, which is within our range of where we sort of target. And we've got two key growth projects underway. The ventilation work, which we'll talk about in later slides. And then the really exciting news actually is the Merrin mine that we started rolling out in the marketplace during the last quarter. And ...