Key points
- Revenue of $160.8M, net profit of $51.3M
- Net cash from operating activities of $89.8M
- Transition to predominantly underground operation in FY27
Full summary
Meeka Metals Limited reported its financial and operating activities for the year ending 30 June 2026, marking its first full year as a gold producer following the first gold pour at the Murchison Gold Project on 1 July 2025. The company reported a revenue of $160.8M, net cash from operating activities of $89.8M, and an initial net profit after tax of $51.3M. Meeka also produced 28.8koz of gold at an All-in Sustaining Cost of $2,956/oz. The company closed the year with $37.9M in cash and no debt, except for mining equipment finance. Meeka's Managing Director and CEO, Tim Davidson, highlighted the company's transition to a predominantly underground operation in FY27, which is expected to increase head grade and recovered ounces.
Guidance
FY27 will see Meeka transition to a predominantly underground operation.
Outlook
FY27 is expected to see Meeka transition to a predominantly underground operation, with higher-grade underground ore from Andy Well and the commencement of portal development at Turnberry. The company expects cash to build as higher-margin underground production flows through.