Metro Mining Limited (MMI) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

We have the CEO and CFO of Metro Mining, Simon Wensley and Nathan Quinlan, here to discuss the highlights from the June quarterly activities report. I'll hand it over to Simon to run through and we'll have a few questions at the end. Thank you, Simon. Thank you, Nathan. Thanks, Peter. Good afternoon, everyone in Australia or wherever you are. Thank you for joining this call. We wanted to... give the chance to present some of the key elements of our Q2 release that we've released this morning onto the ASX. So I might just share that on the screen. So just bear with me. Okay, so this release is available on the website today, and you can obviously pick it up off the ASX as well. So, look, a very positive quarter for us. I mean, we'd already released the operational results at the start of the month, but record shipments for Q2, that's obviously our expansion has ramped up during the back half of last year, and now we're into our first full year of production at that 7 million tonne rate. So that's up 19% year on year. I think, I mean, the comment I made on the front page, we've obviously climbed that into a pretty robust market, the price of bauxite reached record highs at the end of 2024 and has has come down a little but we were still able to during the quarter back ourselves onto that high pricing environment and so we've had significant price uplift over Q4 last year which was our last full operating quarter and then we had some tonnage in Q1 this year, a low tonnage but so I mean the FOB, the net FOB unit revenue up about 41% to $72 per ton. So that's generated along with our delivery of some very positive costs between sort of the SIF and FOB level, about $32, just under $32 per ton. And so that's obviously a huge amount from a margin of leverage, obviously, over...