Strong Quarterly Production and Lower Cash Cost
Metals Acquisition Limited (NYSE: MTAL; ASX:MAC)
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Figure 1 - CSA Copper Mine Recordable
Injuries by Quarter
Metals Acquisition Limited ARBN 671 963 198 (NYSE: MTAL; ASX:
MAC), a private limited company incorporated under the laws of
Jersey, Channel Islands (“MAC” or the “Company”) is
pleased to release its September 2024 quarterly activities report
(“Q3 2024” or “September quarter”).
HIGHLIGHTS
TRIFR of 14.2 a slight decrease in TRIFR quarter on
quarter with further remediation strategies implemented.
Strong and consistent quarterly copper production with lower
cash cost
- Copper production of 10,159 tonnes at the CSA Copper Mine
(“CSA” or “CSA Mine”) is the second strongest copper
production under MAC’s ownership following on from the record June
quarter
- Copper production for 2024 tracking to mid-point of annual
guidance at 40,500 tonnes of copper
- Double lift stope strategy implemented in the June quarter
driving high grade consistent copper production, delivering 21,023
tonnes of copper production for the June and September quarters at
an average grade of 4.1% Cu from the benefit of lower dilution than
reserve assumptions
- Q4 2024 mine plan targeting another record December quarterly
copper production
- C1 of US$1.90/lb1 improved by ~6% compared to the June quarter,
driven by a reduction in milling costs, treatment and refining
charges and an increase in development costs capitalised
Key copper growth projects expected to drive 25% increase in
annual production by 2026
- MAC aiming to be a +50ktpa Copper producer by 2026
- Ventilation project – work well underway on development drives
to first major raise bore ventilation locations with procurement
strategies advancing and completion targeted by mid-2026
- QTS South Upper – procurement of equipment and manning
requirements commenced with planning taking place to start
development in Q4 2024 and ore mining expected to commence from Q3
2025
- Polymetals (“POL”) announced that it secured financing
to fund its mine restart in H1 2025 – the value of MAC’s investment
in POL has increased by ~21% since its initial investment. MAC has
the right to invest a further A$2.5 million at A$35c a share when
POL is fully funded for restart of operations
Generating material operational free cash flow
- Operational free cash flow of ~US$30 million2 for the quarter
with an average realised copper sales price of US$4.18/lb3 (Q3 2024
Copper spot average at US$4.17/lb)
- Cash and cash equivalents of ~US$81 million after repayment of
~US$8 million in senior debt principal and US$2.1 million of
exploration and expenditure
- MAC also had ~US$9.0 million of receivable outstanding
Quotational Period receipts, ~US$6.4 million of unsold concentrate
and a strategic investment in POL valued at ~A$2.94 million as at
30 September 2024
A$150 million (~US$103 million) equity raise completed
subsequent to quarter end
- Raised gross proceeds of ~A$150 million (~US$103 million)5 at
an issue price of A$18.00 per New CDI
- Placement was well supported with support from new and existing
institutional and sophisticated investors
- Proceeds will enable MAC to retire the high-cost Mezzanine debt
facility while also providing additional flexibility to pursue
strategic inorganic growth opportunities
- Pro-forma liquidity as at 30 September 2024 of ~US$226
million6
ESG
Safety
The TRIFR for the CSA Copper Mine decreased from an average of
14.4 in Q2 2024 to 14.2 in Q3 2024. This is below the NSW
underground metalliferous TRIFR average for 2022 of 15.5. Although
a decrease quarter on quarter, Q3 2024 has not been favourable for
safety performance with one LTI recorded for the period. Plans have
been initiated in the prior quarter to remediate the increase in
TRIFR as compared to 2023 via increased awareness with extensive
training and coaching, as well as increased safety presence on
site. Increased leadership field safety interactions have been a
core focus of Q3 2024.
Figure 1 - CSA Copper Mine Recordable Injuries by
Quarter
Regulatory
The CSA Mine Rehabilitation Objectives Statement, Final Landform
and Rehabilitation Plan, the Annual Rehabilitation Report and the
CSA Mine Forward Program have all been approved by the NSW
Resources Regulator. Planning for the CSA Annual Plan is underway
and due for submission by April 2025.
The Environment Protection Authority annual return was submitted
during the quarter with no reportable incidents, pollution events,
or licence breaches recorded during the reporting period,
demonstrating our clear commitment to managing environmental
performance, and an owner operator mentality in a small community
setting.
Production and cost summary
Table 1 – Production and cost summary (unaudited)
Units
Q4 2023
Q1 2024
Q2 2024
Q3 2024
QoQ Change (%)
Copper Production
Tonnes
9,832
8,786
10,864
10,159
(6.5%)
Sustaining capital
US$ million
$10.0
$13.0
$12.8
$12.5
(2.0%)
Cash cost (C1)7
US$/lb
$1.99
$2.15
$2.028
$1.90
(6.1%)
Total cash cost9
US$/lb
$2.73
$3.17
$2.72
$2.71
(0.4%)
Group Net Debt10
US$ million
$260
$253
$232
$232
0%
Metals Acquisition Limited’s CEO, Mick McMullen,
said:
“Following a record June quarter, our CSA Copper Mine
operational team delivered another strong and consistent September
quarter in line with our mine plan, reaching copper production of
10,159 tonnes, while improving safety performance. This marks
another milestone as we produced 21,023 tonnes of copper for the
last two quarters. Based on the reserve plan, we expect copper
production to increase over the remaining quarter of the year.
Higher grade stopes at the CSA Copper Mine continue to form a
large proportion of our annual production and played a key role
again during the quarter, with milled copper grade achieved of
4.0%.
MAC successfully completed an equity raise, totalling
approximately A$150 million or approximately US$103 million of
gross proceeds. The oversubscribed placement was supported by the
new and existing institutional and sophisticated investors both in
Australia and offshore. This broad support is a testament to the
high-quality nature of the CSA Copper Mine and the significant work
that has been undertaken by management to deliver on a range of
operational improvements over the past year.
Proceeds of the Placement, together with existing cash, will
enable MAC to optimise its balance sheet, while also providing
additional flexibility to pursue strategic inorganic growth
opportunities. We thank all shareholders for their continued
support.
We have also commenced two key capital projects to grow our
copper production by a further 25% by 2026 to over 50,000 tonnes of
copper production per annum; our growth projects include the
expansion of the mine to include QTS South Upper and the
Ventilation project, which are brought online Q3 2025 and mid-2026
respectively.
Finally, we are proposing a special resolution at the AGM to
change the company name to MAC Copper Limited. The change of the
company name better reflects the business activities of the Company
as we continue toward being the next high quality copper miner of
scale.”
Operations
Table 2 - Quarterly Operational Performance of the CSA Copper
Mine (unaudited)
CSA Copper Mine Metrics
(unaudited)
Units
Q4 2023
Q1 2024
Q2 2024
Q3 2024
QoQ % variance
U/g development - Capital
Metres
841
466
449
735
64%
U/g development - Operating
Metres
448
703
611
359
(41%)
Rehab
Metres
153
246
113
145
28%
Total development
Metres
1,441
1,415
1,173
1,239
6%
Ore Mined
Tonnes
268,685
256,031
271,469
238,937
(12%)
Tonnes Milled
Tonnes
266,105
260,297
266,936
260,953
(2%)
Copper grade processed
%
3.8%
3.5%
4.2%
4.0%
(5%)
Copper Recovery
%
97.6%
97.6%
97.9%
97.2%
(1%)
Copper Produced
Tonnes
9,832
8,786
10,864
10,159
(6%)
Silver Produced
Ounces
114,969
102,182
134,072
112,299
(16%)
Copper Sold
Tonnes
8,819
8,112
12,984
10,244
(21%)
Achieved Copper price11
US$/lb
3.85
3.87
4.41
4.18
(12%)
Mining Cost
US$/t Mined
$75.5
$95.7
$91.9
$85.9
(7%)
Processing Cost
US$/t Milled
$25.5
$25.7
$31.9
$26.3
(18%)
G+A Cost
US$/t Milled
$29.6
$33.1
$25.6
$27.5
7%
Total Operating Cost
US$/t milled
$130.6
$154.6
$149.3
$139.6
(6%)
Development Cost
US$/metre
$9,667
$15,478
$9,330
$12,825
37%
Capital Expenditure12
US$ million
$10.0
$13.0
$12.8
$12.5
(2%)
Tonnes Milled per employee
t/employee
189
184
186
174
(6%)
Mining
US$/lb prod
0.94
1.27
1.04
0.92
(12%)
Processing
US$/lb prod
0.31
0.35
0.36
0.31
(14%)
General and Admin
US$/lb prod
0.36
0.44
0.28
0.32
12%
Treatment and refining
US$/lb prod
0.36
0.17
0.26
0.23
(11%)
Work in Progress inventory
US$/lb prod
(0.01)
(0.14)
0.03
0.02
(34%)
Freight and other costs
US$/lb prod
0.17
0.17
0.21
0.24
18%
Silver Credits
US$/lb prod
(0.14)
(0.10)
(0.16)
(0.14)
(12%)
C1 Cash Cost
US$/lb prod
1.99
2.15
2.0213
1.90
(6%)
Leases
US$/lb prod
0.07
0.08
0.07
0.07
8%
Inventory WIP
US$/lb prod
0.01
0.14
(0.03)
(0.02)
(34%)
Royalties
US$/lb prod
0.20
0.13
0.13
0.20
52%
Sustaining capital
US$/lb prod
0.46
0.67
0.53
0.56
5%
Total Cash Cost
US$/lb prod
2.73
3.17
2.72
2.71
0%
Total Revenue
US$ millions
88.3
66.0
120.0
87.5
(27%)
Unless stated otherwise all references to dollar or $ are in
USD.
The September quarter demonstrated consistent mining processes
that delivered above 10kt of copper production for two consecutive
quarters. Production further benefited from a grade of 4.0% for the
quarter with August copper grade recorded at 4.36%. The grade
achieved continues to demonstrate the high-quality ore body present
at CSA mine.
The double lift extraction sequence was again successfully
deployed during Q3 2024 after being implemented in the previous
quarter, resulting in less mining dilution achieved with stronger
grades and less total ore tonnes for the same metal.
Figure 2 - CSA Copper Mine Quarterly Copper Production
(tonnes)
The average received copper price before hedge settlements was
lower when comparing to the prior period with the June quarter at
US$4.18/lb, down ~5% compared to US$4.41/lb for the June quarter,
with the average spot copper price over the September quarter at
~US$4.17/lb14.
In addition, the Australian dollar exchange rate was broadly
flat compared to the prior quarter.
C1 cash costs decreased by ~6% quarter on quarter from
US$2.02/lb15 in the June quarter to US$1.90/lb for September
quarter. The drivers of the lower C1 is a combination of a
reduction in milling costs, treatment and refining charges and an
increase in development costs capitalised which had a positive
impact of approximately US$0.24/lb offset by lower production
tonnes, which negatively impacted the C1 by US$0.12/lb.
Figure 3 - CSA Copper Mine C1 Cash Costs16 - US$/lb
produced
MAC management continues to implement additional productivity
measures to further reduce C1 costs as is evident in the declining
C1 that has been achieved since the June 2024 quarter depicted
above.
Q2 2024 adjusted post finalisation of half year accounts with
additional freight and TCRCs included accrued for recognition of
June quarter pre-sales. Directionally we expect that copper TCRCs
for 2025 will settle at materially lower levels than for 2024 and
MAC will benefit from this from January 2025 onwards.
Figure 4 provides an illustration of tonnes milled per employee
which remains relatively stable quarter on quarter.
Figure 4 - CSA Mine Tonnes Milled per Employee
Figure 5 - CSA Mine Mining Unit Rate US$/t
Apart from copper production, the largest driver of C1 costs is
the mining unit rate as mining accounts for approximately 60% of
total site operating costs.
Mining unit rates are trending down with better cost control
initiatives implemented. September 2024 mining rates decreased
further with additional capital development metres achieved (64%
increase as seen in Figure 7), resulting in increased mining
development costs being capitalised in Q3 2024. Additional capital
metres have been completed in the quarter with a focus on the North
decline and both the return and fresh air drives.
Figure 6 - CSA Mining Development Costs US$/metre
Figure 7 - CSA Copper Mine Capital Development metres
Processing costs per tonne milled decreased in the September
2024 quarter after the June 2024 quarter was negatively impacted by
the plant shutdown in April 2024. Tonnes processed for the
September 2024 quarter were 261kt at a copper recovery rate of
97.2%.
G&A unit rates increased slightly during the current quarter
after the June 2024 quarter included a once-off re-allocation of
stock consumables to mining and processing previously allocated to
G&A, reducing the G&A unit rate.
Figure 8 - CSA Copper Mine Processing Unit Rate
US$/t
Figure 9 - CSA Copper Mine Site G+A Unit Rate US$/t
As seen in Figure 10, capital spend (including capitalized
development) decreased slightly over the quarter, largely driven by
diamond drilling and vent expansion drilling. MAC continues to
spend capital in accordance with its previous guidance of
approximately US$52 million for FY 2024.
Figure 10 - CSA Copper Mine Site Capital US$m
MAC raises ~A$150 million (~US$103 million) through
successful placement
As announced on 9 October 2024, MAC raised approximately A$150
million (approximately US$103 million) (before costs) at an issue
price of A$18.00 per New CDI.
The placement was well supported with support from new and
existing institutional and sophisticated investors both in
Australia and offshore, which is testament to the high-quality
nature of the CSA Copper Mine and the significant work that has
been undertaken by management to deliver on a range of operational
improvements over the past year.
Proceeds of the Placement, together with existing cash, will
enable MAC to optimise its balance sheet and de-lever following the
acquisition of the CSA Copper Mine from Glencore plc in mid-2023,
while also providing additional flexibility to pursue strategic
inorganic growth opportunities.
Cash position, liquidity and debt facilities
The Company’s unaudited cash holding at the end of Q3 2024 was
~US$81 million for an unaudited net debt17 position of ~US$232
million. Post the equity raise noted above, the pro-forma net debt
as at 30 September 2024 amounted to ~US131 million, which
represents a pro-forma net gearing of 16%.
The reduction in the underlying cash position (before the equity
raise) at quarter end is largely driven by the reduced pre-sales in
the September quarter of ~US$13 million as compared to the June
quarter of ~US$37 million resulting from a timing difference in
cash receipts in the September quarter. Copper tonnes sold in Q3
2024 reduced by 2,741 as a result of the additional pre-sales in
June.
The unaudited cash position also reflects outgoings of ~US$8.1
million repaid on the Senior Debt Facility at the end of the
quarter, ~US$8.9 million in interest payments for the Senior debt
(US$3.9 million) and Mezzanine facility (US$5.0 million) and
~US$4.6 million in Silver and Copper stream payments.
As of 30 September 2024, the pro-forma liquidity was ~US$226
million which includes cash of ~US$81 million, US$25 million
undrawn revolving facility, ~US$103 million equity raised
subsequent to quarter-end, ~US$17 million of outstanding
Quotational Period receipts, unsold concentrate and the strategic
investment held in POL at valuation of ~A$2.918 million.
Figure 11 – Q3 2024 Cash flow waterfall (US$M)
Exploration
During the September quarter, US$2.1 million was invested in
exploration.
Investors are directed to the separate September quarterly
exploration update released dated 21 October 2024 for the detailed
results.
Three Year Production Guidance
The copper production guidance provided to the market covering
2024, 2025 and 2026 remains unchanged:
Table 3 - CSA Copper Mine Production Guidance
Year
2024
2025
2026
Low
High
Low
High
Low
High
Copper Production (t)
38,000
43,000
43,000
48,000
48,000
53,000
This 3-year production guidance is based primarily on Ore
Reserves but also on Measured and Indicated Mineral Resources (as
at 31 August 2023) and, given that all the deposits are open and a
large drill program is underway, we consider it likely that there
will be changes over the relevant period as the Company’s overall
plan to continue operational and production improvement continues
to develop.
Changes to Board of Directors
Appointment of Ms Anne Templeman-Jones
As announced on 22 July 2024, Ms Templeman-Jones has been
appointed as a Non-Executive Director of the Company’s Board of
Directors, effective 22 July 2024. Ms Templeman-Jones, is an
accomplished listed company director with substantial financial,
operational risk, regulatory, governance and strategy experience
from a number of industries, including banking and finance,
engineering services in the energy sector, consumer goods and
manufacturing.
In addition to Metals Acquisition Limited, Ms Templeman-Jones
recently served as a Non-Executive Director, and was responsible
for a diverse range of committee chairs and memberships for
Commonwealth Bank of Australia (Director March 2018 to October
2024) and Trifork Ag (Director since April 2021). From November
2017 until 1 July 2024, Ms Templeman-Jones was a director of Worley
Limited.
Change of Glencore Nominee Director
As announced on 22 July 2024, Mr Mohit Rungta will replace Mr
Matt Rowlinson and Mr John Burton as Glencore’s nominee Director to
the Company’s Board of Directors. Glencore is entitled to nominate
one Director for every 10% it holds in the Company. Following
completion of the Company’s ASX listing, warrant redemption and
recent placement Glencore now has a 12.13% interest (entitling it
to one nominee).
Hedging
During the quarter, the Company delivered 3,105 tonnes of copper
into the hedge book at an average price of US$3.72/lb. At the end
of June 2024, the remaining copper hedge book consisted of the
following:
Table 4 – Hedge position
Copper
2024
2025
2026
Total
Future Sales (t)
3,105
12,420
5,175
20,700
Future Sales ($/t)
3.72
3.72
3.72
3.72
Conference Call
The Company will host a conference call and webcast to discuss
the Company’s third quarter 2024 results on Monday, October 21,
2024 at 6:00 pm (New York time) / Tuesday, October 22, 2024 at 9:00
am (Sydney time).
Details for the conference call and webcast are included
below.
Webcast Participants can access the
webcast at the following link
https://event.choruscall.com/mediaframe/webcast.html?webcastid=lgTwEDVD
Conference Call Participants can
dial into the live call by dialing one of the numbers below and
request the operator connect to the Metals Acquisition Limited
call. Toll Free Dial In: +1-844-763-8274 International Dial In:
+1-647-484-8814 Australia: +61-3-8592-6289
Replay A replay of the webcast will
be available for three months via the webcast link above and or by
visiting the Events section of the company’s website.
This report is authorised for release by the Board of
Directors.
About Metals Acquisition Limited
Metals Acquisition Limited (NYSE: MTAL; ASX: MAC) is a company
focused on operating and acquiring metals and mining businesses in
high quality, stable jurisdictions that are critical in the
electrification and decarbonization of the global economy.
Estimates of Mineral Resources and Ore Reserves and
Production Target
This release contains estimates of Ore Reserves and Mineral
Resources as well as a Production Target. The Ore Reserves, Mineral
Resources and Production Target are reported in MAC’s ASX
Announcement dated 23 April 2024 titled ‘Updated Resource and
Reserve Statement and Production Guidance’ (the “R&R
Announcement”). The Company is not aware of any new information
or data that materially affects the information included in the
R&R Announcement, and that all material assumptions and
technical parameters underpinning the estimates or Ore Reserves and
Mineral Resources in the R&R Announcement continue to apply and
have not materially changed. The material assumptions underpinning
the Production Target in the R&R Announcement continue to apply
and have not materially changed. It is a requirement of the ASX
Listing Rules that the reporting of ore reserves and mineral
resources in Australia comply with the JORC Code. Investors outside
Australia should note that while exploration results, mineral
resources and ore reserves estimates of MAC in this release comply
with the JORC Code, they may not comply with the relevant
guidelines in other countries and, in particular, do not comply
with (i) National Instrument 43-101 (Standards of Disclosure for
Mineral Projects) of the Canadian Securities Administrators; or
(ii) the requirements adopted by the Securities and Exchange
Commission (SEC) in its Subpart 1300 of Regulation S-K. Information
contained in this release describing mineral deposits may not be
comparable to similar information made public by companies subject
to the reporting and disclosure requirements of Canadian or US
securities laws.
Forward Looking Statements
This release includes “forward-looking statements.” The
forward-looking information is based on the Company’s expectations,
estimates, projections and opinions of management made in light of
its experience and its perception of trends, current conditions and
expected developments, as well as other factors that management of
the Company believes to be relevant and reasonable in the
circumstances at the date that such statements are made, but which
may prove to be incorrect. Assumptions have been made by the
Company regarding, among other things: the price of copper,
continuing commercial production at the CSA Copper Mine without any
major disruption, the receipt of required governmental approvals,
the accuracy of capital and operating cost estimates, the ability
of the Company to operate in a safe, efficient and effective manner
and the ability of the Company to obtain financing as and when
required and on reasonable terms. Readers are cautioned that the
foregoing list is not exhaustive of all factors and assumptions
which may have been used by the Company. Although management
believes that the assumptions made by the Company and the
expectations represented by such information are reasonable, there
can be no assurance that the forward-looking information will prove
to be accurate.
MAC’s actual results may differ from expectations, estimates,
and projections and, consequently, you should not rely on these
forward-looking statements as predictions of future events. Words
such as “expect,” “estimate,” “project,” “budget,” “forecast,”
“anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,”
“believes,” “predicts,” “potential,” “continue,” and similar
expressions (or the negative versions of such words or expressions)
are intended to identify such forward- looking statements. These
forward-looking statements include, without limitation, MAC’s
expectations with respect to future performance of the CSA Copper
Mine. These forward-looking statements involve significant risks
and uncertainties that could cause the actual results to differ
materially from those discussed in the forward-looking statements.
Most of these factors are outside MAC’s control and are difficult
to predict. Factors that may cause such differences include, but
are not limited to: the supply and demand for copper; the future
price of copper; the timing and amount of estimated future
production, costs of production, capital expenditures and
requirements for additional capital; cash flow provided by
operating activities; unanticipated reclamation expenses; claims
and limitations on insurance coverage; the uncertainty in Mineral
Resource estimates; the uncertainty in geological, metallurgical
and geotechnical studies and opinions; infrastructure risks; and
other risks and uncertainties indicated from time to time in MAC’s
other filings with the SEC and the ASX. MAC cautions that the
foregoing list of factors is not exclusive. MAC cautions readers
not to place undue reliance upon any forward-looking statements,
which speak only as of the date made. MAC does not undertake or
accept any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements to reflect
any change in its expectations or any change in events, conditions,
or circumstances on which any such statement is based.
More information on potential factors that could affect MAC’s or
CSA Copper Mine’s financial results is included from time to time
in MAC’s public reports filed with the SEC and the ASX. If any of
these risks materialize or MAC’s assumptions prove incorrect,
actual results could differ materially from the results implied by
these forward-looking statements. There may be additional risks
that MAC does not presently know, or that MAC currently believes
are immaterial, that could also cause actual results to differ from
those contained in the forward-looking statements. In addition,
forward-looking statements reflect MAC’s expectations, plans or
forecasts of future events and views as of the date of this
communication. MAC anticipates that subsequent events and
developments will cause its assessments to change. However, while
MAC may elect to update these forward-looking statements at some
point in the future, MAC specifically disclaims any obligation to
do so, except as required by law. These forward-looking statements
should not be relied upon as representing MAC’s assessment as of
any date subsequent to the date of this communication. Accordingly,
undue reliance should not be placed upon the forward-looking
statements.
Non-IFRS financial information
MAC’s results are reported under International Financial
Reporting Standards (“IFRS”), noting the results in this
report have not been audited or reviewed. This release may also
include certain non-IFRS measures including C1, Total Cash costs
and Free Cash Flow. These C1, Total Cash cost and Free Cash Flow
measures are used internally by management to assess the
performance of our business, make decisions on the allocation of
our resources and assess operational management. Non-IFRS measures
have not been subject to audit or review and should not be
considered as an indication of or alternative to an IFRS measure of
financial performance.
C1 Cash Cost
C1 costs are defined as the costs incurred to produce copper at
an operational level. This includes costs incurred in mining,
processing and general and administration as well freight and
realisation and selling costs. By-product revenue is credited
against these costs to calculate a dollar per pound metric. This
metric is used as a measure operational efficiency to illustrate
the cost of production per pound of copper produced.
Total Cash Cost
Total cash costs include C1 cash costs plus royalties and
sustaining capital less inventory WIP movements. This metric is
used as a measure operational efficiency to further illustrate the
cost of production per pound of copper produced whilst incurring
government-based royalties and capital to sustain operations.
Free Cash Flow
Free cash flow is defined as net cash provided by operating
activities less additions to property, plant, equipment and mineral
interests. This measure, which is used internally to evaluate our
underlying cash generation performance and the ability to repay
creditors and return cash to shareholders, provides investors with
the ability to evaluate our underlying performance.
____________________ 1 See “Non-IFRS financial information” and
refer to Table 2 for reconciliation of C1 Cash Cost 2 See “Non-IFRS
financial information” 3 Realised provisional sales price excluding
hedging impact 4 Valued at close of trading on ASX on 14 October
2024 5 Placement proceeds converted into US$ based on an A$:US$
exchange rate of 0.6869, which represents the average exchange rate
for the week from 30 September 2024 to 4 October 2024 (inclusive) 6
Includes equity raised of ~US103 million gross proceeds of ~A$150
million (~US$103 million) at an issue price of A$18.00 per New CDI
as announced on 9 October 2024 7 See “Non-IFRS Information” and
refer to Table 2 for reconciliation of C1 Cash Cost. 8 Q2 2024
adjusted post finalisation of half year accounts with additional
freight and TCRCs included accrued for recognition of June
pre-sales 9 Excludes corporate costs from parent entity. See
“Non-IFRS financial information” and refer to Table 2 for
reconciliation of Total Cash Cost 10 Senior Debt + Mezzanine
Facility – Cash and cash equivalents (excluding streams) 11
Realised provisional sales price excluding hedging impact 12
Sustainable capex 13 Q2 2024 adjusted post finalisation of half
year accounts with additional freight and TCRCs included accrued
for recognition of June pre-sales 14 Realised provisional sales
price excluding hedging impact 15 Q2 2024 adjusted post
finalisation of half year accounts with additional freight and
TCRCs included accrued for recognition of June pre-sales 16 See
“Non-IFRS Information” and refer to Table 2 for reconciliation of
C1 Cash Cost 17 Net debt is calculated taking senior debt (+)
mezzanine debt (-) cash and cash equivalents excluding streams 18
Valued at close of trading on ASX on 14 October 2024
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241021535643/en/
Mick McMullen Chief Executive Officer Metals Acquisition Limited
investors@metalsacqcorp.com
Morné Engelbrecht Chief Financial Officer Metals Acquisition
Limited
Macerich (NYSE:MAC)
과거 데이터 주식 차트
부터 10월(10) 2024 으로 11월(11) 2024
Macerich (NYSE:MAC)
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부터 11월(11) 2023 으로 11월(11) 2024
