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Highlights

  • AMI’s H1FY25 revenue increased by 10.25% YoY to AUD 162 million.
  • The company confirmed high-grade zinc-lead extensions at Federation West and progressed mine development 38% ahead of plan.
  • AMI to commence commercial production at Federation Mine in July 2025, with the Great Cobar Project targeted to commence in FY28.
  • FY26 guidance projects up to 45 Koz gold, 4,000 t copper, and 32,000 t zinc.

Aurelia Metals Limited (ASX:AMI) is an Australian gold and base metals mining and exploration company focused on the Cobar Basin in New South Wales, operating 100%-owned Peak and Federation mines, with its Great Cobar copper project under development and targeted for production by FY28.

In the first half of the financial year FY25 (H1FY25), the company’s revenue increased by 10.25% YoY to AUD 162.40 million. The operational growth was driven by higher gold prices and the first sales of Federation concentrate, offsetting the closure of the Dargues mine. During the reported period, statutory net profit after tax surged by 984.00% YoY to AUD 18.00 million, compared to a loss of AUD 2.00 million in H1FY24. Gold production reached 21.5 Koz in H1FY25 with a steady AISC of AUD 2,136/oz. The basic earnings per share surged by 983.33% YoY to 1.06 cents, compared to a loss of 0.12 cents in H1FY24.

Business Update

AMI reported progress across its Federation operations, with drillhole FDD222 at Federation West confirming a high-grade down-dip extension intersecting 3.0m at 25.3% zinc and 11.0% lead, indicating multiple high-grade lenses near planned mining areas, while the Federation mine development advanced 38% ahead of schedule, achieving first stope ore mining in September 2024 and processing 16.5kt of ore at the Peak plant.

The company reported that at Nymagee, Stage 2 drilling and electromagnetic surveys identified significant copper, zinc, and lead mineralisation, including 5.2m at 3.0% copper and 4.1m at 9.9% zinc, supporting future resource upgrade.

Company Outlook

AMI expects to commence commercial production at the Federation Mine in July 2025, with mined tonnes projected to increase from nearly 100kt in FY25 to 320-340kt in FY26 and 600ktpa in FY27, while the high-grade Great Cobar Project is scheduled to commence in FY28.

In FY26, the company targets group operating costs between AUD 275–315 million and sustaining capital of AUD 50–60 million.

Share performance of AMI

AMI shares ended 2.50% lower at AUD 0.195 per share on 25 June 2025. Despite recent declines of 36.07% over one week, 32.76% in the past month, and 23.53% over three months, the stock has advanced 14.71% over the last six months and is up 5.41% on a yearly basis. Year-to-date, the share price has increased by 14.71%.

The 52-week high for AMI is AUD 0.345, recorded on 5 June 2025, while the 52-week low is AUD 0.138, recorded on 9 September 2024.

Support and Resistance Summary

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 25 June 2025. The reference data in this report has been partly sourced from EODHD/Others.

 

Technical Indicators Defined:

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.