Focus Minerals (FML) Q4 2024 TU earnings summary

Executive summary

• Achieved record ore processing at Three Mile Hill plant, with 351,553 tonnes processed, including 286,940 tonnes of own ore and 64,613 tonnes of toll treatment ore.

• Sold 9,975 ounces of gold at an average price of A$4,132/oz and 654 ounces of silver credits.

• Entered a mining services agreement with Barminco for Bonnie Vale Underground Mine; development and site infrastructure nearing completion.

• Cash position at 31 December 2024 was $16.499 million.

Financial highlights

• Receipts from customers for the quarter were $43.7 million; year-to-date $114.4 million.

• Net cash used in operating activities for the quarter was $(3.3) million; year-to-date $(16.2) million.

• Net cash used in investing activities for the quarter was $(10.8) million; year-to-date $(19.1) million.

• Net cash from financing activities for the quarter was $20.4 million; year-to-date $50.6 million.

• Cash and cash equivalents at quarter end were $16.499 million.

Outlook and guidance

• Estimated quarters of funding available is 6.15, based on current cash and unused finance facilities.

• Ongoing focus on ramping up production at Coolgardie and advancing Bonnie Vale Underground Mine.

• Planning and budgeting underway for 2025 exploration and development programs.