29Metals Ltd Releases 2026 Half-Year Financial Results
Key points
- Copper and zinc production increased by 16% and decreased by 89%, respectively.
- Total revenue rose by 12% to $305 million.
- Cash flows from operating activities surged by 148% to $66 million.
Full summary
29Metals Ltd announced its 2026 Half-Year Financial Results for the period ending June 30, 2026. The company reported a 16% increase in copper production to 11.2kt, while zinc production dropped by 89% to 3.2kt due to mining suspension at Xantho Extended. Total revenue rose by 12% to $305 million, and cost of sales increased by 21% to $279 million. Cash flows from operating activities surged by 148% to $66 million. The company's liquidity position stood at $202 million, sufficient to fund ongoing growth commitments and risk mitigation for the recommencement of mining at Xantho Extended in December 2026.
Guidance
Revenue: $305 million; Cost of sales: $279 million; Cash flows from operating activities: $66 million
Outlook
The progressive ramp-up of mining from high-grade ore sources is expected to provide flexibility and support metal production growth at Golden Grove from the end of 2026.
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