# December 2025 Quarterly Activities Report Source Brief: https://evesgoldminers.com/research/source-briefs/aurelia-metals-ltd-2026-01-21-december-2025-quarterly-activities-report-76c324c7 Original source: https://aureliametals.com/wp-content/uploads/2026/01/ASX-Announcement_December-Quarter-2025-Activities-Report.pdf Original published: 2026-01-21 EGM generated: 2026-09-04 Company: Aurelia Metals Ltd (AMI) ## Use Note This is the Eve's Gold Miners normalized Markdown copy of an official or regulatory public source. It is provided for readability, search discovery, and research resilience. The original source remains authoritative for legal, regulatory, and investment decisions. ## Extracted Document Text # December 2025 Quarterly Activities Report Source: https://aureliametals.com/wp-content/uploads/2026/01/ASX-Announcement_December-Quarter-2025-Activities-Report.pdf Published: 2026-01-21T00:00:00+00:00 Fetched: 2026-05-12T14:11:43.742+00:00 Source artifact: 76c324c7-e945-41cd-be25-d5628bb78d12 Normalizer input: text ## Content # December 2025 Quarterly Activities Report ASX ANNOUNCEMENT 21 January 2026 | ASX: AMI QUARTERLY ACTIVITIES REPORT FOR THE PERIOD ENDED 31 DECEMBER 2025 Aurelia Metals Limited (ASX: AMI) (Aurelia or the Company) is pleased to advise the release of its quarterly activities report for the period ended 31 December 2025. All amounts are expressed in Australian dollars unless stated otherwise. Highlights Significant cash flow generated from strong production • Group quarter metal production of 11.7koz gold, 0.6kt copper, 7.2kt zinc, and 4.3kt lead. • Cobar Region operating cash flow of $42.9M (SepQ: $8 .3M) after all sustaining capital. • Cash balance of $85.6M (SepQ: $88.1M) after investment of $10.5M in growth projects, tax payment of $12.2M related to the FY25 tax year, and a further $7.9M to restricted cash for performance bonding. • FY26 production, cost and capital guidance reaffirmed. Gold production tracking to upper end of guidance range during a period of strong prices. Federation ramp up continues ahead of plan for FY26 • Mine development of 1,417 metres (m) completed (SepQ: 1,481m). • Ore mined increased to 76kt (SepQ: 63kt). • Grades increasing as mining advances. Zinc grade increased to 8.18% (SepQ: 6.53%), lead to 4.61% (SepQ: 3.17%) and gold to 1.23g/t (SepQ: 0.67g/t). Peak processing plant performing extremely well at increased throughput • Total tonnes processed 187kt (SepQ: 191kt) which is towards limit of current capacity. • Recoveries continue to be excellent to maximise metal production . Gold was 94.0%, zinc was 84.0%, lead was 89.6% and copper was 88.2%. Growth projects executing in line with plan • Great Cobar mine development increased to 506m (SepQ: 448m), with total of 954m developed to date. • Process plant expansion projects on track to increase throughput capacity from 800ktpa to 1.1- 1.2Mtpa in H1 FY27. For more information, contact us at: Level 10, 10 Felix Street GPO Box 7 07 3180 5000 Brisbane QLD 4000 Brisbane QLD 4001 aureliametals.com office@aureliametals.com.au ABN: 37 108 476 384 ASX ANNOUNCEMENT 2 Commenting on the quarterly performance, Managing Director and Chief Executive Officer, Bryan Quinn, said: “Aurelia delivered a strong metal production in the second quarter of FY26 and remains on track to deliver full year guidance, highlighted by production of 11.7k ounces of gold. The performance generated robust cashflows, supporting our growth journey towards 40kt of copper equivalent production in FY28. The strength of the operational result this quarter enabled us to once again fund all growth capital, tax and rehabilitation bond cash backing requirements. “We are making significant progress on our growth projects in this quarter, with our Great Cobar Copper Project executing on schedule. The processing plant thickener and ball mill expansions also remain on track against the project plan. These plant projects are key components of our strategy to increase throughput capacity at Peak from 800ktpa capacity to 1.1-1.2Mtpa capacity during H1 FY27. “The teams at Peak Mine remain focused on delivering the productivity projects and Federation Mine remains focused on the ramp-up of the operations, which are on track to deliver a strong result for the year. I remain confident in our ability to deliver excellent cash flow in FY26 and set up our business to deliver value to shareholders into FY27 and beyond. “Disappointingly, there were four recordable injuries across our sites over the quarter. Management has implemented clear and targeted actions, working closely with our teams to address the key causes identified – namely hand injuries, slips, trips and falls – with the objective of preventing recurrence.” GROUP QUARTERLY PERFORMANCE SepQ DecQ YTD FY26 FY26 FY26 FY26 Guidance Gold produced koz 10.4 11.7 22.1 35 – 45 Copper produced kt 0.5 0.6 1.0 3.0 – 4.0 Zinc produced kt 6.5 7.2 13.8 24 – 32 Lead produced kt 3.8 4.3 8.2 14 – 22 Group Operating Costs # $M 70.0 73.8 143.8 275 – 315 Sustaining Capital $M 15.5 15.6 31.1 50 – 60 Growth Capital $M 10.9 10.5 21.4 60 – 75 Exploration $M 4.8 3.7 8.5 13 – 18 # Group Operating Cost includes mining, processing, site admin, transport and logistics, TCRCs, royalties, corporate costs and care and maintenance. For more information, contact us at: Level 10, 10 Felix Street GPO Box 7 07 3180 5000 Brisbane QLD 4000 Brisbane QLD 4001 aureliametals.com office@aureliametals.com.au ABN: 37 108 476 384 ASX ANNOUNCEMENT 3 Sustainability Group TRIFR increased to 9.62 (SepQ: 6.58) with four recordable injuries in the quarter. Injuries during this period were mainly hand injuries, and a rolled ankle all involving short term contractors. The actions for management include rolling out a behavioural based safety program in February, and ongoing focus on field leadership with short term contractors to ensure our workforce is taking the time to assess work using Take 5 and Job Hazard assessments. Pleasingly, the Group Recordable Environmental Incident Frequency Rate (REIFR) has remained at zero for the quarter with no recordable environmental incidents during the past 18 months. Figure 1: Group TRIFR – 12 month moving average 9.62 Figure 2: Group REIFR – 12 month moving average 0.00 (SepQ: 6.58) (SepQ: 0.00) 12.0 1.2 9.0 0.9 6.0 0.6 3.0 0.3 - - Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-25 Jun-25 Jul-25 Feb-25 Mar-25 Apr-25 May-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 For more information, contact us at: Level 10, 10 Felix Street GPO Box 7 07 3180 5000 Brisbane QLD 4000 Brisbane QLD 4001 aureliametals.com office@aureliametals.com.au ABN: 37 108 476 384 ASX ANNOUNCEMENT 4 Cobar Region, NSW (100%) Peak Mines (South Mine and New Cobar) Peak Sep 25 Q Dec 25 Q YTD FY26 Development metres m 1,379 1,547 2,926 Ore mined kt 132 107 239 Mine development during the quarter was 1,547m (SepQ: 1,379m), with increased metres achieved both in the current production areas in Peak South and New Cobar, and at Great Cobar. Ore mined was 107kt (SepQ: 132kt). Volumes mined in October were lower than planned, driven by low production drilling rates due to ground conditions in the Peak South Mine, issues with explosive product performance that delayed the blasting sequence, and several days lost for compassionate leave for some of our workforce following a fatal mining incident nearby in the Cobar region. Mining rates improved in November and December, and the development metres achieved year to date means there is sufficient contingency to ramp up mining rates in H2 FY26. The operation continues to focus on recruitment to fill vacant roles to improve equipment utilisation. The mining sequence at Peak is currently prioritising areas that maximise gold production and cash flow. This ore is reported as part of copper ore, which was the dominant ore type mined at Peak this quarter at 66kt (SepQ: 52kt). The copper ore had a higher average gold grade of 2.61g/t (SepQ: 2.15g/t) but a lower average copper grade of 0.95% (SepQ: 1.13%). Lead-zinc ore mined totalled 41kt (SepQ: 80kt). Zinc grade was 3.06% (SepQ: 4.91%) and lead grade was 1.55% (SepQ: 3.14%). Gold grade increased materially to 3.34g/t (SepQ: 2.41g/t). As a result of this mining sequence, our forecasts indicate that FY26 gold production is likely to be towards the top end of the guidance range, and FY26 copper production is forecast to be at the lower end of the guidance range. Federation Mine Federation Sep 25 Q Dec 25 Q YTD FY26 Development metres M 1,481 1,417 2,898 Ore mined Kt 63 76 139 Mine development rates were maintained this quarter with 1,417m completed (SepQ: 1,481m). Underground infill diamond drilling totalled 9,607m (SepQ: 13,206m), which continues to increase ore- body knowledge. Ore mined increased to 76kt (SepQ: 63kt). The operation remains ahead of budget for FY26 but mining rates were impacted in December from labour shortages in our mining contractor loading and hauling crews. Given that sufficient broken stocks are available, plans are underway to catch up that lost volume in H2 FY26. Mined grades increased across the board this quarter as mining ramped up and ore was accessed further into the ore body. The mined zinc grade increased to 8.18% (SepQ: 6.53%), lead increased to 4.61% (SepQ: 3.17%) and gold increased to 1.23g/t (SepQ: 0.67g/t). At 31 December 2025 the Federation run of mine (ROM) stockpile had 19kt of ore ready for hauling to the Peak processing plant (SepQ: 23kt). The focus for FY26 remains on advancing the decline further to establish additional drilling platforms deeper in the mine to further define the lower levels, while also ramping up mining tonnes. For more information, contact us at: Level 10, 10 Felix Street GPO Box 7 07 3180 5000 Brisbane QLD 4000 Brisbane QLD 4001 aureliametals.com office@aureliametals.com.au ABN: 37 108 476 384 ASX ANNOUNCEMENT 5 Peak Processing Peak Sep 25 Q Dec 25 Q YTD FY26 Ore processed kt 191 187 378 Gold produced oz 10,396 11,671 22,067 Copper produced t 451 584 1,035 Zinc produced t 6,537 7,231 13,768 Lead produced t 3,848 4,303 8,151 The ore processing strategy in FY26 has been focussed on maximising throughput up to the current plant capacity of 800ktpa, with ore processed this quarter in line with the prior quarter at 187kt (SepQ: 191kt). Lead-zinc ore remained the dominant ore feed in the quarter with 107kt processed (SepQ: 140kt). Overall grades benefited from the higher proportion of Federation ore processed, with zinc grade higher at 8.03% (SepQ: 5.45%), lead grade higher at 4.48% (SepQ: 3.10%), and a gold grade higher at 1.75g/t (SepQ: 1.66g/t). Copper ore processed increased to 80kt (SepQ: 51kt). Reported within the copper ore was ore high in gold grade, resulting in a gold grade of 2.48g/t (SepQ: 2.20g/t) and an average copper grade of 0.83% (SepQ: 1.01%). Metal recoveries achieved continue to maximise metal production which is a priority focus. Gold recovery remained high at 94.0% (SepQ: 93.9%). Zinc recovery was 84.0% (SepQ: 85.5%), and lead recovery also remained strong at 89.6% (SepQ: 88.4%). Copper recovery was maintained at 88.2% (SepQ: 88.4%) despite the lower coper grade. As mining rates ramp up, particularly at Federation, our plan is to continue to build a stockpile in front of the Peak plant. This will provide feed once the plant expansion projects are fully commissioned in H1 FY27. As at the end of December there was a combined ROM stockpile of 36kt, with 19kt on the ROM at Federation and 17kt on the ROM at Peak. Peak Plant Projects Peak plant projects Sep 25 Q Dec 25 Q YTD FY26 Growth capital $M 1.1 3.2 4.3 The plant upgrade projects at Peak are on track in accordance with their project schedules to increase the Mill throughput from 800kt to 1.1-1.2Mtpa, and approvals for the throughput increase are progressing with the Cobar Shire Council. For the water management project, the concrete pad for the new thickener has now been poured. All of the main steel fabrication for the thickener has arrived and is ready to assemble post the concrete works being completed. The project is expected to be commissioned in Q4 FY26. The tertiary ball mill project is progressing with the ball mill to be removed from the plant at Dargues in Q3 FY26 and transported to Peak along with the substation. The ball mill will be commissioned in Q1 FY27. Both projects contribute to improved metal recoveries with the water management project also reducing cyanide consumption. The final of the three plant projects is the crushing and materials handling project, which enables the higher processing rate. It remains on track for commissioning in Q2 FY27. For more [Excerpt trimmed for readability. Open the original source for the complete filing or document.]