How Aurelia Metals Plans to Hit 40kt Copper Equivalent by FY28
Aurelia Metals delivered a robust FY25 with a $48.9 million net profit and strong operational execution, advancing key projects like Federation and Great Cobar while maintaining a solid balance sheet.
- Net profit after tax of $48.9 million and EBITDA of $121.9 million
- Production guidance met across gold, zinc, copper, and lead
- Great Cobar project approved and underway, Federation ramp-up progressing
- 54% reduction in injury frequency rate and zero environmental incidents
- Strong cash position of $110.1 million with no drawn debt
Strong Financial Performance Amid Growth
Aurelia Metals Limited (ASX, AMI) has reported a solid full-year financial performance for 2025, posting a net profit after tax of $48.9 million, a significant turnaround from the prior year’s loss. EBITDA reached $121.9 million, reflecting a healthy margin of 35.5%. The company successfully met its production targets across key metals including gold, zinc, copper, and lead, underpinning its operational strength.
The company’s all-in sustaining cost margin for gold remained steady at around $2,024 per ounce, supporting improved profitability despite volatile commodity markets. This performance was driven by the ramp-up of the Federation project and ongoing optimisation at the Peak Plant, both of which are central to Aurelia’s growth strategy.
Advancing Growth Projects and Exploration
FY25 saw significant progress on Aurelia’s growth pipeline. The Great Cobar project received board approval and is now in execution, with development work already underway. This project is expected to contribute substantially to production from FY28 onwards, targeting a mining rate of 500,000 tonnes per annum and an estimated 33% post-tax internal rate of return.
Federation production commenced during the year and is steadily ramping up, while exploration efforts at Federation and Nymagee continue to uncover promising mineralisation. The company’s disciplined capital allocation ensured that growth capital expenditure of $71.6 million was fully funded by operating cash flow, maintaining a strong balance sheet with $110.1 million in cash and no drawn debt.
Safety, Sustainability, and Community Engagement
Aurelia Metals also reported a 54% reduction in its Total Recordable Injury Frequency Rate (TRIFR), reflecting a strong commitment to workplace safety. Environmental stewardship remains a priority, with zero reportable environmental incidents recorded in FY25. The company enhanced its community engagement through initiatives such as opening the Cobar Community Hub and local procurement spending of $88 million, alongside donations totaling $237,000.
Looking Ahead, Pathway to 40kt Copper Equivalent
Looking forward, Aurelia is targeting approximately 40,000 tonnes of copper equivalent production by FY28, driven by the ramp-up of Federation, Peak Plant optimisation, and the commencement of Great Cobar production. The company plans to maintain strict capital discipline while focusing on organic growth options and operational productivity improvements to maximise cash flow.
With a strong foundation in place, Aurelia Metals is well positioned to capitalise on its growth projects and exploration upside, while maintaining a robust financial position and commitment to sustainability.
Bottom Line?
Aurelia Metals’ FY25 results set a confident stage for growth, but execution on ramp-ups and exploration will be key to sustaining momentum.
Questions in the middle?
- How will commodity price fluctuations impact Aurelia’s projected copper equivalent production by FY28?
- What are the key risks to the Great Cobar project’s timeline and capital expenditure?
- Can the company sustain its safety and environmental performance as production scales up?
