Australia's Orion Minerals annual operating loss narrows

By Reuters News


Overview

  • Australia base metals developer's annual operating loss narrowed yr/yr

  • Basic and headline loss per share both narrowed compared to prior yr


Outlook

  • Orion Minerals is focused on advancing project execution at Prieska Copper Zinc Mine and Okiep Copper Project

  • Company aims to bring Okiep Copper Project to updated development case to define next stage and construction pathway

  • No specific financial or production guidance provided for the current or upcoming periods in the press release


Result Drivers

  • PROJECT DEVELOPMENT COSTS - Operating loss was primarily driven by contractor and advisor expenses related to advancing project development

  • EXPLORATION EXPENSES - Exploration expenditure of AUD2.65 million was expensed under the Group’s deferred exploration, evaluation and development policy

  • FINANCE INCOME OFFSET - Finance income of AUD4.90 million, mainly from interest receivable, partially offset operating loss


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

FY EBIT

-A$12.69 mln


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  • Sept 15 - Australia's Santos signs two separate LNG agreements with POSCO Steel and Western LNG


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