Focus Minerals (FML) Q2 2025 TU earnings summary

Executive summary

• Achieved record gold production in June with 3,874 ounces poured and 5,949.8 ounces sold at an average price of A$5,178/oz, alongside 561 ounces of silver credits.

• Transitioned to fully owner-operated surface mining, with two fleets operational and monthly movement approaching 0.5M BCM.

• Completed the sale of the Laverton Gold Project for $250 million cash, significantly strengthening the balance sheet.

Financial highlights

• Cash position at 30 June 2025 was $74.186 million.

• Receipts from customers totaled $36.23 million for the quarter.

• Net cash from operating activities was $(24.7) million for the quarter.

• Net cash from investing activities was $243.2 million, mainly from the Laverton sale.

• Repayment of borrowings totaled $165 million, primarily to major shareholder Shandong Gold.

Outlook and guidance

• Stoping at Bonnie Vale Underground is scheduled to commence in the December quarter, with mine development ahead of schedule.

• Exploration and resource development activities are ongoing, with new areas identified for future growth.

• Estimated quarters of funding available is 2.84, indicating strong liquidity.