New Murchison Gold (NMG) H2 2025 earnings summary

Executive summary

• Achieved a major transition from explorer to gold producer with the commencement of operations at the Crown Prince Gold Mine, delivering first ore sales in September 2025 at a time of record gold prices.

• Secured key strategic milestones: name change, resource and reserve updates, Ore Purchase Agreement (OPA) with Westgold, feasibility study, and capital raisings totaling $31.5 million before costs.

• Board made a final investment decision in June 2025, with rapid mobilisation and first blast at Crown Prince within a week, followed by steady-state operations.

• Exploration focus increased on nearby high-priority targets, with drilling at Lydia and encouraging underground potential at Crown Prince.

Financial highlights

• Revenue from gold ore sales reached $17.96 million for FY2025, up from $0.17 million in FY2024.

• Net profit after tax was $4.79 million, a turnaround from a $2.71 million loss in the prior year.

• Cash and cash equivalents at year-end were $19.75 million, up from $3.39 million.

• Gross profit for the year was $10.04 million, with a gross margin of 56%.

• Basic earnings per share were 0.054 cents, compared to a loss per share of 0.05 cents in FY2024.

Outlook and guidance

• Focus on generating ongoing cash flow from Crown Prince and expanding exploration in the Abbotts Greenstone Belt.

• Continued systematic exploration at Lydia, Abbots, and Crescent, with Lydia prioritized for operational synergies.

• No significant events after the balance sheet date that would affect future operations.