2025 Half-Year Financial Results

• Total revenue up 12% to $271 million
• Cost of sales down 10% to $231 million
• Significantly improved EBITDA of $113 million and NPAT of $35 million
• Debt reduced by $59 million during the half-year

29Metals Limited (ASX:29M) has released its Appendix 4D and Half-Year Financial Report for the half year ended 30 June 2025. The company reported total revenue of $271 million, up 12% from the prior corresponding period, and cost of sales of $231 million, down 10%. This resulted in significantly improved EBITDA of $113 million and Net Profit After Tax of $35 million, compared to an EBITDA of $5 million and Net Loss After Tax of $109 million in the prior corresponding period. The improved financial performance was driven by higher revenue and lower costs, as well as $54 million in insurance proceeds. The company also reduced debt by $59 million during the six-month period, with drawn debt at 30 June 2025 standing at $203 million, down from $262 million at 31 December 2024. Total liquidity at 30 June 2025 was $202 million. At the Golden Grove operations, copper production was 9.7kt, down from 12.2kt, while zinc production increased to 29.3kt from 20.0kt. The company remains focused on ramping up volumes from its highest-grade Xantho Extended orebody and progressing the Gossan Valley project to bring its second highest-grade orebody into the mine plan.