Beacon Minerals (BCN) H1 2026 earnings summary

Executive summary

• Gold sales doubled to $82.6M for the half-year ended 31 Dec 2025, up 102% year-over-year, with comprehensive income of $14.8M versus a $4.6M loss in the prior period.

• 13,900 ounces of gold sold at an average price of $5,927/oz, a 27% increase in volume and 51% higher price year-over-year.

• Cash and term deposits totaled $36.1M, with 4,706 oz of gold on hand at period end.

• Fully franked dividend of $0.04/share and special dividend of $0.01/share paid in December 2025.

• Major asset sales and acquisitions, including sale of MacPhersons Reward Pty Ltd and Timor Leste concessions, and acquisition of Wealth of Nations tenements.

Financial highlights

• Underlying EBITDA rose 154% to $29.6M; EBIT improved to $19.4M from a $2.4M loss; NPAT reached $14.8M.

• Operating cash inflow surged to $30.5M from $5.8M year-over-year.

• Net tangible assets per share increased to $0.7702 (restated for 40:1 equity consolidation).

• Cash earnings grew 129% to $26.7M.

• Gold ounces on hand rose 140% to 4,706 oz.

Outlook and guidance

• Ongoing focus on resource development at Iguana, with a five-year plan targeting conversion of Inferred to Indicated Resources.

• Jaurdi mill expansion underway, with capital payback expected in under three years.

• Wealth of Nations project to be added to Resource and Reserves by end of FY26.

• Updated Reserve planned for Q3 2026 and full Resource/Reserve update at FY26 year-end.