29Metals Limited (29M) Earnings Call Transcripts

29Metals Limited's Latest Earnings Call - May 21, 2026

In the Q1 2026 earnings call for 29Metals Limited, the company reported a revenue of $567 million and an EBITDA of $176 million, reflecting a significant increase of 200% year-over-year. Management highlighted the resilience of operations despite challenges, particularly seismic activity affecting the Xantho Extended ore source. Guidance for copper production was maintained at over 50,000 tonnes per annum, with expectations to ramp up as operational disruptions are resolved. The company remains optimistic about its long-term growth potential, particularly in copper, driven by increasing demand in the energy transition sector.

Reported metrics

Guidance from management

Management maintained guidance for copper production at over 50,000 tonnes per annum, with expectations to ramp up as operational challenges are resolved. They emphasized a low capital intensity pathway for the restart of Capricorn Copper.

What management said

Nor in advance. Okay. A couple more minutes. Any final questions that might be being typed out and being tapped out there at home for us any final. Whilst we wait, are there any question shareholders wish to ask via the phone?

Yes, great. No, certainly point well made. You mentioned particularly there with Capricorn Copper, we're kicking off drilling again, we haven't done any drilling for a couple of years, we haven't had anything to crawl about too loudly. Lucas has kicked off, the head geo, kicked off that program, I will have some more data to talk about, also, as you said, potentially just a bit more on video or otherwise showing what...

What analysts pressed on

Analysts expressed concerns regarding the impact of seismic activity on production and the company's ability to manage operational risks effectively. There were also questions about the timeline for the restart of Capricorn Copper and the adequacy of current liquidity to fund future growth initiatives.

Main topics on the call

• Revenue and EBITDA Growth — 29Metals reported a revenue of $567 million, up from the previous year, with EBITDA increasing to $176 million, a 200% rise. CEO James Palmer noted, "Despite this, we continued to make solid progress across the business,...
• Operational Challenges and Seismic Activity — The company faced operational interruptions due to seismic activity at Golden Grove, particularly affecting the Xantho Extended ore source. However, management emphasized that copper production remained within guidance a...
• Future Production Guidance — Management maintained guidance for copper production at over 50,000 tonnes per annum, with expectations to ramp up as operations stabilize. Palmer mentioned, "As Xantho returns, we expect to return to that level," indica...
• Gossan Valley Development — The Gossan Valley project is progressing well, with the first blast of the portal completed ahead of schedule. Palmer stated, "we're on track for first ore by the end of 2026," highlighting the potential for increased pr...

Read the full 29Metals Limited transcript (May 21, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 28 29Metals Limited earnings call transcripts on record, spanning January 24, 2022 to July 15, 2026. Based on this history, 29Metals Limited reports quarterly. The most recent call on file is dated July 15, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

29M

Exchange

ASX

Country

AU

Sector

Materials

Industry

Metals and Mining

Calls on record

28

First call

January 24, 2022

Most recent

July 15, 2026

Reporting cadence

quarterly