MAC Copper Limited (NYSE:MTAL) Q1 2025 Earnings Conference Call April 29, 2025 7:00 PM ET
Company Participants
Mick McMullen – Chief Executive Officer
Morne Engelbrecht – Chief Financial Officer
Conference Call Participants
Daniel Morgan – Barrenjoey
Ben Wood – Wilsons Advisory
David Radclyffe – Global Mining Research
Timothy Hoff – Canaccord
Eric Winmill – Scotiabank
Operator
Thank you for standing by, and welcome to the MAC Copper Limited Q1 Results Call and Webcast. All participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. [Operator Instructions]
I would now like to hand the conference over to Mr. Mick McMullen, CEO. Please go ahead.
Mick McMullen
Thank you very much, and thanks everyone for joining us on what is a busy reporting schedule given the shortened holiday period in Australia. I’m Mick McMullen, I’m the CEO. I’ll run through the presentation. I’m joined by our CFO, Morne Engelbrecht, who will talk to some of the slides on the financials. This deck has been released on the ASX along with our quarterly report this morning, and as usual, we’ve got the disclaimers and everything at the front that you can all read at your leisure.
So, look, MAC Copper at a glance, we get an enterprise value of around about $940 million. We’re sort of planning to get over 50,000 tonnes of copper in the not-too-distant future on an annual basis, very strong balance sheet. Obviously, we’ve announced the refinancing of the debt that we did during the quarter. Morne will run through that. And just so everyone is clear, we took – to make sure the market understands how many shares we’re going to issue, 82.5 million shares, and issue about 3.18 million warrants at a strike of $12.50 a share.
The gearing under 20%, which
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