Focus Minerals (FML) H1 2025 earnings summary

Executive summary

• Achieved a net profit of $221.4 million for the half year ended 30 June 2025, reversing a $2.78 million loss in the prior period, driven by a $207.2 million gain from the sale of the Laverton Gold Project.

• Gold sales totaled 11,326 ounces at an average price of A$4,803/oz; mill throughput remained stable with 712,711 tonnes processed.

• Completed the sale of the Laverton Gold Project for $250 million cash, enabling full repayment of all outstanding loans.

Financial highlights

• Revenue from continuing operations increased to $77.7 million from $41.2 million year-over-year.

• Net assets rose to $317.0 million as of 30 June 2025, up from $95.6 million at 31 December 2024.

• Cash balance increased to $74.2 million from $16.5 million at year-end 2024.

• Basic EPS for the period was 77.26 cents, compared to a loss of 0.97 cents per share in the prior period.

Outlook and guidance

• Bonnie Vale Underground Mine development ahead of plan, with stoping ore production scheduled for October 2025.

• CNX project fully permitted, with development to commence in September 2025.

• Focus on advancing Greater Undaunted area through grade control drilling and resource definition.