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Metals Acquisition Limited (symbol: MTAL) is an innovative company focused on the operation and acquisition of metals and mining businesses in high-quality, stable jurisdictions. With a strategic emphasis on electrification and decarbonization, the company plays a crucial role in supporting the global transition to a more sustainable economy.
Metals Acquisition Limited primarily operates in the mining and production sector, focusing on extracting copper and silver from the renowned CSA Mine. The CSA Mine is known for its high-grade deposits, making it a significant asset for the company. Through its dedicated efforts in this single segment, Metals Acquisition Limited ensures a reliable supply of these critical metals, contributing to various industries, including technology, renewable energy, and manufacturing.
In recent achievements, Metals Acquisition Limited has demonstrated robust financial performance, reflecting its efficient operations and strategic acquisitions. The company has successfully formed key partnerships that enhance its mining capabilities and expand its market reach. These collaborations enable the company to stay ahead in the competitive mining sector.
Current projects at the CSA Mine involve advanced extraction techniques and sustainable practices to minimize environmental impact while maximizing yield. The company is committed to implementing cutting-edge technologies and adhering to stringent industry standards to ensure safe, efficient, and eco-friendly operations.
Overall, Metals Acquisition Limited's focused approach, strong financial health, and commitment to sustainability position it as a leader in the mining industry. Investors and stakeholders can rely on the company's expertise and strategic direction for consistent growth and value creation.
MAC Copper (NYSE: MTAL) reported record quarterly production for Q4 2024, achieving 11,320 tonnes of copper at a grade of 4.1% Cu, representing an 11% increase QoQ. The company achieved a significant reduction in C1 costs to US$1.66/lb, down 12% from Q3 2024.
Key financial highlights include operational free cash flow of ~US$30M for Q4 2024, successful capital raising of US$103M, and improved liquidity position with cash and equivalents of ~US$172M. The company's total copper production for 2024 reached 41,128 tonnes, exceeding mid-point guidance and showing a 14% increase from 2023.
The company is targeting copper production of >50ktpa by 2026, representing a ~23% growth. Major projects including the Ventilation project and QTS South Upper development are progressing as planned. Safety performance improved with TRIFR reducing to 10.9 in Q4 from 14.2 in Q3 2024.
MAC Copper (NYSE:MTAL; ASX:MAC) has announced it will release its fourth quarter 2024 financial results on Tuesday, January 28, 2025, after market close in New York, which corresponds to Wednesday, January 29, 2025, before market open in Sydney.
The company will host a conference call and webcast to discuss these results on January 28, 2025, at 5:00 pm (New York time) / January 29, 2025, at 9:00 am (Sydney time). Participants can join through a webcast link or register for expedited access to avoid call queues. The conference call is accessible via toll-free and international dial-in numbers, including a dedicated Australian line.
A replay of the webcast will be available for three months through the provided link or the Events section of the company's website.
MAC Copper (NYSE:MTAL) has reached an agreement with Sprott to amend its mezzanine debt facility, allowing for early loan repayment between January 1, 2025, and June 16, 2025. The amendment provides MAC with greater financial flexibility in optimizing its capital structure. As of October 31, 2024, the outstanding principal was US$145,338,650. If MAC opts for early repayment, it must pay the full principal, a 4% prepayment interest premium, remaining cash interest payments through June 16, 2025, and Sprott's legal expenses. The amendment has received consent from all secured financiers, including Senior Lenders, Osisko Bermuda , and Glencore, though additional Senior Lender approval will be needed at the time of early repayment.
Metals Acquisition (NYSE: MTAL; ASX: MAC) announced the results of its 2024 Annual General Meeting, where all resolutions were passed by poll. The company will change its name to MAC Copper and expects its ordinary shares to begin trading under the new name on the New York Stock Exchange starting December 3, 2024. The company will release an amended consolidated set of Articles of Association alongside this announcement.
Metals Acquisition (NYSE: MTAL; ASX: MAC) announced its 2024 Annual General Meeting, scheduled for 5:00pm New York time and 9:00am Sydney time on November 22, 2024. Chair Patrice Merrin will deliver the Chair address, while CEO Mick McMullen will present the CEO presentation during the meeting. The announcement was authorized by Joint Company Secretaries Chris Rosario and Trevor Hart.
Metals Acquisition (NYSE: MTAL) (ASX:MAC) has reported significant drill results from its CSA Copper Mine exploration program. Key highlights include:
- 19.8m @ 10.9% Cu from 177.1m in UDD23021
- 27.3m @ 8.7% Cu from 126.0m in UDD23019
- 3.8m @ 17.1% Cu from 214.3m in QSDD061
- 23.6m @ 5.2% Cu from 98.7m in UDD24017
The results, which will be incorporated into the 2024 Resource and Reserve Estimate update, demonstrate high-grade copper mineralization across various deposits, including QTS North, QTS Central, and QTSS Upper A. CEO Mick McMullen noted the CSA deposits continue to deliver high-grade intervals, with core deposits grading over 8% Cu providing flexibility throughout the mining cycle. The company also reported promising zinc mineralization in the upper portions of the East and West lenses.
Metals Acquisition (NYSE: MTAL; ASX: MAC) reported strong Q3 2024 results with significant copper production and reduced cash costs. The company produced 10,159 tonnes of copper at the CSA Copper Mine, marking the second-highest production under MAC's ownership. The C1 cash cost improved to US$1.90/lb, a 6% decrease from the previous quarter. Key growth projects aim to increase annual production by 25% by 2026. MAC raised A$150 million (~US$103 million) in equity to retire high-cost debt and pursue growth opportunities. Pro-forma liquidity as of September 30, 2024, stands at ~US$226 million. Safety metrics showed a slight improvement with a TRIFR of 14.2. The company's strategic investment in Polymetals has increased by 21%, and MAC aims to become a +50ktpa copper producer by 2026. Operational free cash flow for the quarter was ~US$30 million, with an average realized copper sales price of US$4.18/lb. The company plans to change its name to MAC Copper to better reflect its business focus.
Metals Acquisition (NYSE: MTAL; ASX: MAC) has announced the release of its third quarter 2024 results on Monday, October 21, 2024 after market close (New York time) / Tuesday, October 22, 2024 before market open (Sydney time). The company will host a conference call and webcast to discuss the results on Monday, October 21, 2024 at 6:00 pm (New York time) / Tuesday, October 22, 2024 at 9:00 am (Sydney time).
Participants can access the webcast at https://event.choruscall.com/mediaframe/webcast.html?webcastid=lgTwEDVD. For expedited access to the call, registration is available at https://dpregister.com/sreg/10193849/fdcbf69714. Alternatively, participants can dial in using the provided toll-free and international numbers. A replay of the webcast will be available for three months via the webcast link or by visiting the Events section of the company's website.
Metals Acquisition (NYSE: MTAL; ASX:MAC) has successfully raised approximately A$150 million (US$103 million) through a placement of 8,333,334 new CHESS Depositary Interests (CDIs) at A$18.00 per CDI. The placement was oversubscribed and well-supported by institutional investors globally.
The proceeds will be used to optimize MAC's balance sheet, retire the Mezzanine Debt Facility, and provide flexibility for strategic growth opportunities. The issue price represents a 13.0% discount to the closing price and 5-day VWAP of A$20.70 on October 8, 2024.
New CDIs are expected to settle on October 14, 2024, and commence trading on the ASX on October 15, 2024. Barrenjoey Markets Pty is acting as the sole Lead Manager and Bookrunner, with Sternship Advisers Pty as Co-Manager.
Metals Acquisition (NYSE:MTAL; ASX:MAC) has announced a A$140 million (~US$96 million) institutional placement of approximately 7.8 million new Chess Depositary Interests (CDIs) at A$18.00 per CDI. The offer price represents a 13% discount to the last closing price and 5-day VWAP on the ASX. Proceeds will be used to optimize the balance sheet and retire the existing US$145 million Mezzanine Debt Facility. Upon settlement, MAC will have a pro-forma cash balance of ~US$177 million and net debt of ~US$134 million. The company reported strong Q3 2024 performance at the CSA Copper Mine, with 10,159 tonnes of copper production at 4% grade and C1 cash costs expected between US$1.90-2.00 per pound. MAC remains on track to meet its full-year 2024 copper production guidance of 38,000-43,000 tonnes.
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