Metals Acquisition Limited (MTAL) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

I would now like to hand the conference over to Mr. Mick McMullen, CEO. Please go ahead. Thank you very much and thank you everyone for joining us. I'm joined on the call by our CFO, Mornay Engelbrecht. I'll run through the slides and these will be released as well so that everyone can refer to them at your leisure. So this is our second quarter 2025 quarterly presentation. Obviously, this is the usual disclaimer at the front that people can read at their leisure. uh and if i go to slide four you know in summary um you know look mac copper at a glance it's a well capitalized low cost a high grade copper mine in a tier one jurisdiction and we're trending towards greater than 50 000 tons of copper by by 2026. uh obviously during the quarter we we announced the transaction uh with harmony to sell The company, in the absence of a superior proposal, at $12.25 US a share, all cash. And there's been various announcements made about that. We are on our growth pathway. We have a very strong balance sheet. At the end of 30th of June, we had about $196 million of liquidity. And Mornay will run through the components of that here shortly. Um, you know, we have been advancing our key growth projects, which are the ventilation project and the Marin mine. Uh, and we did the refinancing and, and we'd sort of said that we wanted to have, um, less than 20% net gearing, which is where we are. Uh, and again, there was separate announcements about that, but you know, that has reduced our interest costs by around about 14 million us dollars per annum. Um, it's reduced our interest rate to, to floating rate, just under 7% right now. and we had 102 million US dollars of actual cash on the balance sheet at the end of the second quarter. So overall, we ended Q2 in a really good position. Movi...