Focus Minerals Smashes June Gold Record, Accelerates Coolgardie Growth

Operational Highlights at Coolgardie

Focus Minerals Limited (ASX, FML) delivered a robust quarterly performance at its Coolgardie Gold Operations, marked by a record gold pour in June 2025. The Three Mile Hill processing plant maintained stable and efficient milling, processing over 361,000 tonnes of ore, including both company-owned and toll treatment material. June alone saw a record 3,874 ounces of gold poured, underscoring operational improvements under the owner-operated mining model.

Mining activities progressed steadily across multiple fronts. Open pit operations transitioned from Greenfields to Dreadnought and Alicia, with two fully operational owner-mining fleets deployed. Material movement reached a record monthly volume of nearly half a million bank cubic metres in June, reflecting enhanced productivity. Meanwhile, Bonnie Vale Underground mining development exceeded expectations, with over 900 metres of development completed and stoping activities scheduled to commence earlier than planned.

Infrastructure and Exploration Advances

Significant infrastructure milestones were achieved at Bonnie Vale, including installation of a 72-metre raisebore ventilation shaft, permanent power station, substation, and pump station. These upgrades support the ramp-up of underground mining activities and signal growing operational maturity.

Exploration efforts continued to underpin the resource base, with surface drilling at Bonnie Vale facilitating model updates and underground drilling planned for the next quarter. Grade control drilling was completed at Dreadnought, Alicia, and CNX open pits, enhancing resource confidence ahead of mining. Notably, a new exploration area named Greater Undaunted North was identified, encompassing several deposits and laying groundwork for a centralised mining hub in South Coolgardie.

Corporate and Financial Developments

On the corporate front, Focus Minerals completed the sale of its Laverton Gold Project to Genesis Minerals Limited for $250 million in cash during the quarter. Proceeds from this transaction were strategically deployed to repay approximately $174.8 million in outstanding loans to major shareholder Shandong Gold, significantly deleveraging the balance sheet.

The company reported gold sales of nearly 6,000 ounces at an average realised price of A$5,178 per ounce, supplemented by silver credits. Despite net cash outflows from operating activities, Focus maintained a strong cash position of $74.2 million at quarter-end, supported by the Laverton sale proceeds and disciplined capital management.

Looking Ahead

Focus Minerals is poised to build on this momentum with underground stoping at Bonnie Vale set to commence in the December quarter and ongoing exploration drilling aimed at resource extensions. The integration of new mining fleets and infrastructure upgrades is expected to sustain operational efficiencies, while the company’s strengthened financial position provides flexibility for future growth initiatives.