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Highlights

  • AMI posts 53% YoY EBITDA growth in H1FY25 to AUD 49.7 million, supported by Federation and Peak mines.
  • The company meets FY25 cost and production targets, producing 45.4koz gold.
  • AMI sets FY26–FY28 growth plan, with Federation starting in July 2025 and Great Cobar by FY28.

Aurelia Metals Limited (ASX:AMI) is an Australian gold and base metals mining and exploration company that operates the Peak and Federation mines in New South Wales, is targeting production at its Great Cobar copper project by FY28.

In the first half of the financial year 2025 (H1FY25), AMI reported a 53% YoY increase in underlying EBITDA to AUD 49.70 million, up from AUD 32.5 million in H1FY24. Net profit after tax (underlying) turned positive in H1FY25 to AUD 15.6 million, compared to a loss of AUD 1.8 million in the prior year period, reflecting a 949% improvement. Meanwhile, basic earnings per share rose to 1.06 cents from a loss of 0.12 cents, up 983%. During the March quarter and H1FY25, AMI performance was driven by ramp-up mining at the Federation mine, continued cash generation from the Peak mine, disciplined spending, and maturing operational efficiency initiatives.

Business Update

In FY25, AMI met or exceeded its production and cost guidance across all key metals, producing 45,400oz gold, 2,700t copper, 16,800t zinc, and 15,700t lead. This performance was supported by a successful ramp-up at Federation mine and consistent output from the Peak mine.

The company ended FY25 with AUD 110 million in cash, reflecting increased operational cash flow. Safety outcomes also improved significantly, with recordable injury rates falling 54% year-on-year, enhancing operational reliability.

Company Outlook

AMI expects commercial production at the Federation mine by July 2025, with FY26 mined tonnes are expected to touch 320–340kt and 600ktpa by FY27. Peak mine will remain the primary ore source until FY27, with the New Cobar and Great Cobar projects anticipated to commence in FY28.

FY26 production guidance includes 35–45koz of gold, 3.0–4.0kt of copper, 24–32kt of zinc, and 14–22kt of lead. Operating costs are projected to rise due to increased development activities and the inclusion of Federation, with further output growth expected in FY27 and FY28.

Share performance of AMI

AMI shares closed 2.70% higher at AUD 0.190 per share on 30 June 2025. In one year, the stock has gained 11.76%, despite a sharp decline of 35.59% in the past three months. It has remained flat over the past month but is up 2.70% over six months and 5.56% over nine months.

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 30 July 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.