Beacon Minerals (BCN) H2 2025 earnings summary

Executive summary

• Gold production reached a record 25,639 ounces at Jaurdi, up 10% year-over-year, with a mill run rate of 1,000,000 DMT per annum in the June quarter.

• Closing cash was $14.38 million as of 30 June 2025, with 2,744 ounces held at Perth Mint and 1,778 ounces in transit.

• Major resource development included an updated Iguana Mineral Resource Estimate of 17 million tonnes at 1.11 g/t Au for 609,000 ounces and an updated Ore Reserve of 3.4 million tonnes at 1.20 g/t Au for 132,200 ounces.

• Corporate actions included a $10.3 million fully underwritten entitlement issue, completion of the Lady Ida Project JV, and the sale of shareholdings in Maximus Resources, Aurumin Limited, and Astral Resources.

• Subsequent to year-end, a 40:1 share consolidation and an on-market share buy-back for up to 9.39 million shares were announced.

Financial highlights

• Revenue for FY2025 was $92.73 million, up from $83.38 million in FY2024.

• Gold sales totaled 21,342 ounces at an average price of A$4,327/oz, generating $92.3 million in gold revenue.

• The company reported a total comprehensive loss after tax of $10.81 million, compared to a profit of $9.26 million in the prior year.

• Gross loss was $10.38 million, with cost of goods sold at $103.1 million, up from $62.7 million in FY2024.

• Net assets stood at $66.59 million as of 30 June 2025.

• No dividends were paid in FY2025 (previous year: $3.76 million).

Outlook and guidance

• Focus for FY2026 will be on developing the Iguana Deposit, with further drilling and a resource update expected.

• Exploration at Lady Ida and Mt Dimer will continue, with plans to convert prospects into JORC-compliant resources.

• The company aims to increase mine life, manage costs, and maintain balance sheet strength.