Aurelia’s Shares Substantially Decreased After An Update On September Quarter’s Operations

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On 12 October 2018, Aurelia Minerals Ltd (ASX: AMI) released its September quarter’s operations update. Following which, the share price of the company decreased by 14.379 percent as on 12 October 2018.

In September quarter of 2018, the company’s gold production is 35,499 oz out of which Hera contributed 13,746 oz of gold and Peak contributed 21,753 oz of gold. The September quarter’s gold production is substantially less than the 54,746 oz of June quarter. The Peak gold production was lower than the last quarter, however, the Hera gold production was strong with 129,338 tonnes processed for the quarter. The North Pod will be in full production by the December quarter of 2018. To improve productivity and cost, the company has decided to implement contract mining at Peak which is expected to happen during the December quarter of 2018. The Pre-feasibility Study for the Nymagee project is due for completion in June 2019 and it requires an additional drilling at Nymagee to provide fresh material for comminution and flotation testing. 

11 new drill holes which include 3 wedges and 8 parent holes were completed recently and these holes were designed to return various copper and lead/zinc mineralization styles in different grade ranges. Selected intervals from all 11 drill holes have been transmitted to ALS Metallurgy in Perth for the next stage of the PFS. Metallurgical test work will examine several processing options to maximize the value from the polymetallic mineralization.

The company’s net profit after tax increased by 431 percent to $99.1 million as compared to $19.3 million in the previous year. The company’s Sales revenue increased by 127 percent to $248.6 million as compared to previous year and it was derived from approximately 70 percent of gold sales and 30 percent copper, lead, zinc, and silver sales. Hera contributed $155.8 million and Peak contributed $92.8 million in the total revenue of the company. The EBITDA of the company increased by 182 percent to $137 million in FY 2018. The Earning per share of the company increased by 223 percent to 15.5 cents in FY 2018 as compared to the EPS of last year. The Company’s depreciation and amortization expense increased to $36.6 million in FY 2018 due to increased asset base and higher production. The net operating cash flow of the company increased by 229 percent from $46.12 million in FY 2017 to $151.75 million in FY 2018. Due to $23.2 million expenditure on mine development and $6.9 million on property, plant, and equipment, the capital expenditure of the company increased to $30.1 million in FY 2018.

In the past three-six months, the share price of the company increased by 39.09 percent as on 11 October 2018. AMI’s shares traded at $0.655 with a market capitalization of circa $662.4 million as on 12 October 2018 (AEST 4:00 PM).

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