29Metals Limited
29M.ASXMaterials
Mineral exploration, development, and production
Market Data
$0.275
+0.1%$455.0M
16.1x
$0.016
0.00%
-0.4%
Latest Earnings
March 2026 Quarterly Report
29 April 2026
29Metals reported Q1 2026 results with revenue of $165.0M (up 20% QoQ) driven by higher copper and zinc sales, though Golden Grove copper production of 6.4kt was slightly down QoQ due to the continued suspension of mining at Xantho Extended. The company achieved positive free cash flow of $10M in the quarter and strengthened its liquidity position to $238M following a $143M equity raise, while maintaining full-year copper production guidance at 20-24kt despite deferring Xantho Extended recommencement to December 2026 for additional geotechnical risk mitigation. Key points: Strong revenue growth of 20% QoQ to $165.0M driven by higher payable copper and zinc metal sales despite production challenges; Achieved positive free cash flow of $10M in March quarter and strengthened group liquidity to $238M post $143M equity raise; Maintained full-year copper production guidance of 20-24kt despite Xantho Extended suspension, demonstrating operational flexibility with replacement ore sources identified
Recent Announcements
March 2026 Quarterly Report - Investor Presentation
This is 29Metals Limited's March Quarter 2026 investor presentation released on 29 April 2026, covering operational performance, production guidance, and strategic developments across its Golden Grove copper mine in Western Australia and Capricorn Copper brownfield project in Queensland.
March 2026 Quarterly Report
29Metals reported Q1 2026 results with revenue of $165.0M (up 20% QoQ) driven by higher copper and zinc sales, though Golden Grove copper production of 6.4kt was slightly down QoQ due to the continued suspension of mining at Xantho Extended. The company achieved positive free cash flow of $10M in the quarter and strengthened its liquidity position to $238M following a $143M equity raise, while maintaining full-year copper production guidance at 20-24kt despite deferring Xantho Extended recommencement to December 2026 for additional geotechnical risk mitigation. Key points: Strong revenue growth of 20% QoQ to $165.0M driven by higher payable copper and zinc metal sales despite production challenges; Achieved positive free cash flow of $10M in March quarter and strengthened group liquidity to $238M post $143M equity raise; Maintained full-year copper production guidance of 20-24kt despite Xantho Extended suspension, demonstrating operational flexibility with replacement ore sources identified
March 2026 Quarterly Report - Conference Call Details
This is an announcement of conference call details for 29Metals' March 2026 quarterly report, scheduled for release on 29 April 2026. No financial results, metrics, or guidance are provided in this document as it only contains logistical information for the earnings call webcast. Key points: Conference call scheduled for 29 April 2026 to discuss March quarter results; Multiple access options provided (webcast, dial-in, pre-registration available); Recording will be made available post-call for those unable to participate live
2025 Financial Results Summary Release
29Metals delivered strong FY2025 results with revenue up 3% to $567 million and a remarkable 202% improvement in profitability, swinging from a $178 million loss to a $24 million profit, supported by Golden Grove EBITDA surging 76% to $178 million. The company significantly strengthened its balance sheet by reducing drawn debt by $74 million to $188 million, while Golden Grove's C1 costs improved 3% to US$2.49/lb despite production challenges at Xantho Extended. Key points: Golden Grove EBITDA surged 76% to $178 million despite mining interruptions at Xantho Extended; Strong turnaround from $178 million loss in 2024 to $24 million profit in 2025, including $54 million insurance proceeds; Cost of sales reduced 14% to $482 million, demonstrating improved operational efficiency
2025 Appendix 4E and Annual Financial Report
29Metals achieved a strong turnaround with NPAT of $24.2M versus a $177.6M loss in 2024, driven by higher commodity prices, reduced costs, and $54.0M in final insurance proceeds from the Capricorn Copper extreme weather event. However, operational challenges persisted with Golden Grove's Xantho Extended mine suspended due to seismic events and Capricorn Copper operations remaining suspended throughout 2025. Key points: Strong financial turnaround with NPAT of $24.2M versus $177.6M loss in 2024; Final insurance settlement of $54.0M received from Capricorn Copper extreme weather event; Golden Grove maintained copper production at 22.3kt despite operational challenges
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