Beacon Minerals (BCN) H2 2026 earnings summary

Executive summary

• Achieved gold production of 24,854 ounces at Jaurdi for FY26, with record mill throughput but a 3% decrease in output year-over-year due to lower ore grades.

• Commenced production at Lady Ida, generating $22.7 million in gold sales from 3,601 ounces at an average price of $6,305/oz.

• Completed major asset sales, including MacPhersons Reward for $5 million cash and 36 million FRS shares, and Timor-Leste concessions for $500,000.

• Paid fully franked dividends totaling $0.15 per share and distributed FRS shares to shareholders.

Financial highlights

• Revenue rose to $127.6 million, up 38% year-over-year.

• Net profit after tax was $45.5 million, reversing a prior year loss of $10.8 million.

• Gross profit reached $49.5 million, compared to a gross loss in FY25.

• Cash and term deposits at year-end totaled $24 million, with 5,214 ounces of gold on hand.

• Dividends declared during the year amounted to $32.4 million.

Outlook and guidance

• Focus for FY27 is on ramping up Lady Ida as the principal ore source and further developing the Iguana deposit.

• Exploration to continue at Lady Ida and Mt Dimer, with drilling planned to expand resources.

• Jaurdi mill upgrade ($11.5 million tank farm expansion) on schedule for November 2026 commissioning.