Beacon Minerals (BCN) H2 2024 earnings summary

Executive summary

• Achieved total comprehensive profit after tax of $9.26M for FY2024, up from $4.45M in FY2023.

• Gold production at Jaurdi was 23,068 ounces; cash on hand at year-end was $5.79M with 784 ozs of gold in bullion.

• Paid a fully franked dividend of $3.76M during the year.

• Acquired Mt Dimer tenements and advanced Lady Ida JV, expanding resource base.

• Entered and closed out a 14,000 oz gold forward contract at A$3,080/oz; no forward contracts outstanding at year-end.

Financial highlights

• Revenue increased to $83.38M (FY2023: $72.44M); gross profit rose to $20.69M (FY2023: $10.95M).

• Net profit after tax was $9.19M (FY2023: $5.22M); EPS improved to 0.24 cents (FY2023: 0.14 cents).

• Cash flow from operations was $36.07M; net cash at year-end was $5.80M.

• Net assets increased to $67.79M (FY2023: $62.29M).

• Dividend of $0.001 per share paid, fully franked.

Outlook and guidance

• Focus for FY2025 on MacPhersons Reward, Geko, and Lady Ida projects.

• Exploration to ramp up at Lady Ida and Mt Dimer; potential for resource extensions and new targets.

• Timor Leste copper-gold exploration licenses granted; fieldwork commenced.