Record Copper Production
MAC Copper Limited achieved a record copper production of 11,320 tonnes at a grade of 4.1% milled, surpassing the mid-point of their guidance.
Strong Financial Performance
The company reported a 47% EBITDA margin and converted 74% of that to cash. Liquidity stood at US$213 million, with a significant reduction in net gearing to 15%.
Cost Reduction Achievements
Achieved a record low C1 cash cost of US$1.66/lb, with a significant 70% reduction impacting costs positively.
Balance Sheet Deleveraging
Net gearing reduced from 41% to 15%, and cash and cash equivalents increased from US$32 million to US$172 million.
Future Growth Plans
The company is on track to exceed 50,000 tonnes of copper production by 2026, with ongoing projects like the Ventilation project and QTS South Upper development.
Safety Improvements
TRIFR improved from 14 to just under 11, indicating better safety performance.