An announcement from 29metals Ltd. ( (AU:29M) ) is now available.
29Metals Limited reported a significant improvement in its 2024 financial results, with a 23% increase in total revenue to $551 million and a positive Group EBITDA of $58 million. This improvement was largely driven by higher metal production and lower unit costs at Golden Grove. Despite a net loss after tax of $178 million, the company’s liquidity position strengthened due to successful financing initiatives, including an equity raising and an offtake finance facility. The company plans to focus on strategic objectives such as the development of Gossan Valley and the restart of production at Capricorn Copper, aiming for continued operational improvements.
More about 29metals Ltd.
29Metals Limited operates in the mining industry, focusing on the extraction and production of metals such as copper and zinc. The company is known for its operations at Golden Grove, which is a high-grade orebody, and Capricorn Copper, which has faced operational challenges.
YTD Price Performance: -28.57%
Average Trading Volume: 3,805,326
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$239.5M
For detailed information about 29M stock, go to TipRanks’ Stock Analysis page.
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