Fiscal 2025 gold production generated gross revenue of $98.64 million, compared to $51.42 million. Net earnings of $37.54 million, or $0.11 per share, up significantly from $6.44 million, or $0.02 per share, in the prior year. The Company's financial position has improved markedly, with cash flow rising to $48.65 million from $14.39 million last year, cash on hand increasing to $45.94 million from $10.86 million, and working capital strengthening to $58.54 million from $20.55 million.
Cathy Zhai, the President and CEO commented: "FY 2025 represents a period of strong progress for the Company, highlighted by sustained gold production at the Selinsing Gold Mine in Malaysia and a strengthened cash position. Development efforts advanced at the Murchison Gold Project in Western Australia, positioning it as a potential second source of cash flow."
Ms. Zhai added: "We continue to advance the development plan at the Murchison Gold Project, with a conceptual economic assessment in progress taken by SRK Consulting Australasia Pty Ltd ("SRK") to support a potential production decision."
Fiscal Year 2025 Highlights:
Net profit of $37.54 million, or $0.11 per share for FY 2025, compared to net income of $6.44 million, or $0.02/share for FY 2024;
Gross margin of $65.11 million for FY 2025, 162% more than $24.83 million in FY 2024;
$45.94 million cash on hand at the end of FY 2025, a $35.08 million increase from $10.86 million during the year, compared to $4.90 million increase during FY 2024;
$58.54 million working capital, $37.99 million or 185% increase from $20.55 million at the end of June 30, 2024;
Production performance:
38,530 ounces of gold produced during the year (FY 2024: 31,542 ounces);
41,183 ounces of gold sold at an average realized price of $2,947/oz for gross revenue of $98.64 million (FY 2024: 30,713 ounces sold at an average realized price of $2,116/oz for gross revenue of $51.42 million);
Cash cost of $814 per ounce sold (FY 2024: $866/oz), including higher royalties based on an increased average realized gold price;
All in sustaining cost of $1,093 per ounce sold for FY 2025, a 7% decrease compared to $1,173/oz in FY 2024.
New filter press successfully commissioned at Selinsing optimized production performance;
Mineral resource drilling programs initiated at Selinsing, targeting an increase in mine-life;
An internal economic assessment was carried out at Murchison for production opportunities.
Fourth Quarter Production Highlights:
The Company achieved a record of 12,315 ounces of gold produced from sulphide flotation plant at an average recovery of 89.50% (Q4 FY 2024: 12,003 ounces at 82.59%);
Q4 FY 2025 revenue from gold concentrate production was $39.63 million, derived from the sale of 14,527 oz gold at a record average realized price of $3,368/oz (Q4 FY2024: 10,413 oz gold sold for $18.60 million);
Cash cost per ounce for gold concentrate sold at $701/oz (Q4 FY2024: $842/oz);
AISC decreased to $853/oz (Q4 FY2024: $1,183/oz).
Fourth Quarter and Fiscal Year 2025 Production and Financial Highlights
Three months ended June 30,
Year ended June 30,
2025
2024
2025
2024
Production
Ore mined (tonnes)
193,481
187,723
726,012
977,987
Waste removed (tonnes)
2,138,118
2,718,199
8,592,126
10,283,519
Gold Sulphide Production
Ore processed (tonnes)
235,264
179,364
786,241
715,553
Average mill feed grade (g/t)
1.82
2.52
1.79
1.84
Processing recovery rate (%)
89.50
82.59
85.32
74.20
Gold produced (oz)
12,315
12,003
38,530
31,542
Gold sold (oz)
14,527
10,413
41,183
30,713
Financial(expressed in thousands of US$)
$
$
$
$
Revenue
39,625
18,602
98,639
51,421
Gross margin from mining operations
29,449
9,835
65,112
24,827
Net Income before other items
24,754
8,072
51,075
13,678
Net income
20,837
6,239
37,536
6,443
Cash flows provided by operations
