Australia's 29Metals posts $305M revenue in FY26
· 29Metals delivers revenue growth in the half-year report.
· Operating cash flow surges to $66 million.
· Company targets higher production from Xantho Extended.
Mining firm 29Metals (ASX:29M) reported total revenue of $305 million for the half year ended June 30, representing a 12% increase.
The top-line revenue growth compares to $271 million recorded during the same six-month period in 2025.
"The team continues to make progress towards strengthening the foundations of the business and an optimised mine plan at Golden Grove, underpinned by investment in high-grade ore sources of Xantho Extended, Oizon and Gossan Valley," said 29Metals Chief Executive Officer James Palmer.
Operating cash flows rose 148% to $66 million, while cost of sales climbed to $279 million.
The company stated that recommencement of mining at Xantho Extended is expected during the December quarter of 2026.
Following the announcement, the 29Metals share price was down at $0.34.
The group reported copper production of 11.2kt and zinc production of 3.2kt for the reporting period.
Net drawn debt stood at US$115 million as of June 30, down US$10 million from Dec. 31, 2025.
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