Beacon Minerals (BCN) Q1 2025 TU earnings summary

Executive summary

• Gold production reached 5,230 ounces, a 33% increase from the previous quarter, with improved grades and mill recovery at 88.5% following the introduction of MacPhersons ore.

• Quarterly gold sales totaled 4,376 ounces at an average price of $3,696/oz, generating $16.17 million in receipts.

• ROM ore stockpiles stood at 279,000 tonnes containing 10,100 ounces, positioning for higher output in the December quarter.

• Exploration advanced at MacPhersons, Lady Ida, Lost Dog East, Geko, and Timor-Leste, with 9,090m drilled and new targets identified.

Financial highlights

• Sale receipts for the quarter were $16.17 million, with closing cash of $2.59 million and bullion on hand/in transit of 1,857 ounces.

• Cash costs were A$3,307/oz (excluding royalties and stock adjustments); AISC was A$3,697/oz, down 21% from the prior quarter.

• Capital expenditure totaled A$1.6 million, including exploration, capital works, and plant upgrades.

• Corporate expenditure was A$1.0 million, mainly for hire purchase repayments.

Outlook and guidance

• December quarter gold production guidance is 6,500 ounces, driven by higher grades and increased throughput from MacPhersons.

• MacPhersons, A-Cap, and Tycho ore will dominate mill feed through CY2025.

• Water bore installation and further mill optimization are planned for the next quarter.