Aurelia Metals (AMI) AGM 2024 summary

Opening remarks and agenda

• Acknowledgement of traditional custodians and meeting logistics, with all board members and key executives present.

• Managing Director and CEO presented at the AGM held on 26 November 2024, outlining the company's performance and future direction.

• Agenda included FY24 performance review, outlook for FY25, consideration of financial statements, and five key resolutions.

Financial performance review

• Achieved a 45% increase in underlying EBITDA to $81M, 119% uplift in operational cash flow, and a 198% increase in all-in sustaining costs margin versus FY23.

• FY24 share price increased by 92%, reflecting improved operating performance and profitability.

• Statutory net loss after tax reduced to $5.7M from $52.2M, with underlying net profit at $0.6M.

• Ended FY24 with AUD 116.5 million in cash and over AUD 150 million in liquidity, despite a AUD 59.3 million drop in sales revenue.

• Cash flow from operations more than doubled to $100.6M, and group cash flow improved to $77.2M.

Board and executive committee updates

• Appointment of Lyn Brazil to the board in July 2023; resignations of Helen Gillies and Paul Harris in January 2024.

• Angus Wyllie promoted to regional general manager of Cobar.