Beacon Minerals (BCN) Q4 2025 TU earnings summary

Executive summary

• Gold production reached 7,365 ounces for the June 2025 quarter, a 20% increase over the previous quarter, with mill throughput at 254,819 dry tonnes and improved operational efficiency.

• Quarterly gold sales totaled 3,900 ounces at an average price of $5,163/oz, generating $20.1 million in receipts; closing cash was $14.38 million as of 30 June 2025.

• Major exploration activities included a 201-hole drill program at the Iguana deposit and the execution of an option to acquire the Wealth of Nations tenements.

• A 40:1 share consolidation was completed post-quarter, and an on-market share buy-back of up to 9,391,921 shares was announced.

Financial highlights

• Gold revenue for the quarter was $20.1 million, with an average sale price of $5,163/oz, up from $4,520/oz in the previous quarter.

• Cash costs were A$2,824/oz, and all-in sustaining costs (AISC) were A$3,719/oz, both reflecting improved production and cost control.

• Net mine cashflow for the quarter was negative at ($6.9 million), compared to $3.1 million in the previous quarter.

• Capital expenditure for the quarter was A$3.34 million, including plant, equipment, and exploration.

• Cash on hand at quarter-end was $14.38 million, with 2,744 ounces of gold held at the Perth Mint and 1,778 ounces in transit.

Outlook and guidance

• September 2025 quarter production guidance is 6,800 to 8,000 ounces, with expectations of higher run-of-mine grades as MacPhersons pit deepens.

• The proposed Jaurdi mill upgrade targets a 1.2 mtpa run rate, pending board approval, with anticipated recovery improvements of 2%-3%.

• Exploration focus remains on the Iguana area, with further drilling and resource updates planned; Mt Dimer drilling is scheduled for Q4 2025.