Record-Breaking Revenue and Growth
Revenue increased by 30% to $65 million, net profit attributable to shareholders up by 147% to just over $20 million, and adjusted earnings per share increased by 155%.
Strong Operating Cash Flows
Operating cash flows rose to $28 million, and the company ended the quarter with $8 million in net cash and another $18 million in fixed term deposits.
Production Milestone at Blanket Mine
Blanket Mine achieved a record production of over 21,000 ounces in the quarter, leading to an increase in full-year guidance to 77,500 to 79,500 ounces.
Successful Sale of Solar Plant
The sale of the solar plant realized $22.4 million, securing a long-term supply contract for Blanket and releasing capital for core business use.
Improved Safety Performance
The total injury frequency rate improved for the quarter and half year, with lost time injuries reduced from 4 to 1.
Positive Developments in Zimbabwe
The company noted improvements in Zimbabwe's physical security, foreign exchange stability, and ranking in the Fraser Institute survey.