JSE-listed Concord Gold has delivered a stable working efficiency for the 9 months to March 31, reflecting a wonderful third quarter with enhancements throughout all key operational metrics.
In an operational replace for the 9 months, CEO Beyers Nel notes that the Mponeng and Tshepong North mines, in South Africa, and the Hidden Valley mine, in Papua New Guinea, delivered notable performances throughout the quarter.
The corporate stays firmly on monitor to attain full‐12 months manufacturing, value and grade steering for each gold and copper, supporting sturdy returns.
“It will mark Concord’s eleventh consecutive 12 months of assembly manufacturing steering, underpinned by operational excellence, larger‐high quality property, sturdy grade management and resilient margins,” says Nel.
Gold and copper income elevated by 34% to R68.39-billion, or $4.02-billion, pushed by a 39% enhance within the common gold value obtained to R2.02-million a kilogram, or $3 691/oz.
Nel explains that leveraged publicity to the gold value helped drive a 12 months‐on‐12 months enhance of 87% in free money stream at an operational degree.
He notes that value inflation stays properly managed and according to plan, whereas manufacturing is supported by means of ongoing high quality mineral reserve substitute.
Sturdy money era, bolstered by Concord’s excessive‐margin gold operations, enabled the group to return to a internet money place of R1.33-billion, or $78-million, from a internet debt place of R5.55-billion, or $335-million, as at December 31, 2025.
Nel says the corporate’s stability sheet power stays central to the corporate’s technique, offering the flexibleness to fund development, shield margins and ship sustainable shareholder returns.
“We proceed to evaluate our capital construction to take care of an environment friendly stability sheet that’s appropriately matched to each our funding wants and the power of our money stream era.
“We allocate capital in a disciplined and balanced method, prioritising security and orebody improvement whereas delivering high quality development in each gold and copper,” he says.
Concord notes that gold manufacturing elevated by 5% from the prior quarter, with recoveries and grades normalising as anticipated. For the 9‐month interval, gold manufacturing decreased by 3% to 33 393 kg, or 1.07-million ounces, according to plan.
The corporate notes that underground recovered grade was above steering at 5.85 g/t for the 9‐month interval.
All‐in sustaining value for gold property elevated by 14% to R1.17-million a kilogramme, or $2 133/oz, from R1.03-million a kilogramme, or $1 765/oz.
The corporate says operational prices stay a core focus space and are properly‐managed with minimal impression from larger oil and diesel costs.
The typical gold value obtained (together with hedge) had been up 39% to R2.02-million a kilogramme, or $3 691/oz, from R1.45-million a kilogramme, or $2 497/oz.
Moreover, Nel says execution excellence on Concord’s key development tasks over the following 24 months is vital as the corporate establishes a transparent pathway to larger‐margin gold manufacturing and about 100 000 t/y of copper.
He provides that this funding programme is properly sequenced to handle capital depth and keep a sturdy and versatile stability sheet.
“Margin safety and enhancement stay core priorities, supported by ongoing funding in a mixture of larger‐grade orebodies and different excessive‐margin tasks that ship sturdy returns on capital, serving to to maintain resilient money flows by means of the cycle”.
As anticipated, Nel says the excessive‐grade Moab Khotsong mine, in South Africa, is coming into a 5‐12 months interval of deliberate decrease manufacturing as the corporate advances the Zaaiplaats extension venture.
Nel says Concord’s CSA copper mine, in Australia, was a strategic acquisition to mitigate this, including that its integration and optimisation is progressing according to plan.
Nel says mining flexibility at CSA stays constrained however is bettering following the re‐institution of an acceptable mining sequence, whereas the air flow venture is on schedule to assist lengthy‐time period efficiency.
He notes that ongoing drilling continues to ship distinctive outcomes, reinforcing the standard and potential of this excessive‐grade copper orebody.
Shareholder returns are anticipated to stay sustainable and aggressive alongside the corporate’s development technique. Beneath Concord’s new dividend coverage, the bottom dividend was elevated to 30% of internet free money.
As well as, Nel says an upside dividend of as much as 20% could also be paid, primarily based on internet debt to earnings earlier than curiosity, taxes, depreciation and amortisation ranges.
Subsequently, a complete of fifty% of internet free money could be returned to shareholders, topic to the discretion of the board and leverage.
A document interim dividend of R3.38-billion, or $204-million (530c or $0.32 a share), was paid on April 28.
