Highlights

  • In September 2025 quarter, the company processed 431,346 tonnes or ore, including 371,054 tonnes of company ore.
  • FML’s recorded monthly gold pour of 8,274 oz achieved in August.
  • Cash balance stood at AUD 113.6 million as of 30 September 2025.

Focus Minerals Limited (ASX:FML) released its Quarterly Report for the period ended 30 September 2025, outlining steady operations at its Coolgardie Gold Project in Western Australia. Milling at the Three Mile Hill (TMH) processing plant remained stable, processing 431,346 tonnes of ore — including 371,054 tonnes of company ore and 60,292 tonnes of toll treatment ore.

The company achieved a record month of gold poured in August, delivering 8,274 ounces. Across the quarter, Focus sold 20,014 ounces of gold at an average realised price of AUD 5,288 per ounce, alongside 2,540 ounces of silver credits.

A total of 332,517 tonnes of ore were mined across the CNX, Dreadnought, Alicia open pits, and Bonnie Vale Underground operations. The company’s ore achieved an average grade of 1.68 g/t with metallurgical recovery averaging 94.5%, peaking at 95.3% on higher-grade ore.

Open Pit and Underground Mining Activities

At the open pits, total material mined during the quarter reached 2,886,635 tonnes, with 291,408 tonnes of ore mined at 1.00 g/t for 9,331 ounces. Mining continued at Alicia and Dreadnought, while preliminary work began at CNX.

Bonnie Vale Underground produced 36,366 tonnes of development ore at an average grade of 8.23 g/t Au, for 9,621 ounces. Development was concentrated between the 1285L and 1330L levels, with the addition of a second jumbo and loader to enhance productivity. A total of 1,297 metres of lateral development was completed, including both capital and operating development.

A longhole production drill rig was mobilised in September, with the first stope on 1285L scheduled for firing by the end of October. Equipment availability averaged above 89% across drill, load, and haul fleets.

Exploration and Resource Development

Bonnie Vale underground diamond drilling commenced during the quarter for grade control and to extend mineral resources down dip from current development. Updated pit designs were initiated at Alicia following grade control model updates, reflecting grade improvement as strip ratios improved.

A new grade control model at CNX produced a cohesive and repeatable grade shell, allowing for better estimation of higher-grade cores. Several drilling programs were finalised for the Greater Undaunted area, with continuous drilling expected from early October across the Cookes, Top Tank, Lady Loch, and Adelaide-Friendship deposits.

Corporate and Financial Update

During the quarter, Focus received approximately AUD 112.8 million from gold and silver sales, along with toll milling fees. Exploration expenditure totalled AUD 1.05 million, covering drilling, assays, and consultant costs.

Payments to related parties, including directors’ salaries, fees, and rent, totalled AUD 372,000 in accordance with ASX Listing Rule 5.3.5. As of 30 September 2025, the Company held a cash balance of AUD 113.6 million.

Share performance

Focus’ shares were trading at AUD 2.340 per share, up by 9.86% from its previous close of AUD 2.130.