SSH Group Ltd reports a robust half-year performance with revenue up 25%, operational advances in gold projects, and a new strategic partnership enhancing its mining capabilities.
- Revenue rises 25% to $24.1 million in H1 FY26
- EBITDA grows strongly to $3.9 million, 70% CAGR since H1 FY23
- Hire purchase debt reduced by $3.1 million, net assets reach $13.6 million
- Progress on Mt Fisher and Wagtail gold projects with high-grade drilling results
- Strategic $2.53 million placement to Xinhai Mining Services and new Non-Executive Director appointed
Strong Financial Momentum
SSH Group Ltd has delivered a compelling half-year financial update for the six months ending December 31, 2025, marking a clear inflection point in its transition to a vertically integrated mining company. The group reported a 25% increase in revenue to $24.1 million, supported by improved utilisation of its fleet and workforce across operating divisions. EBITDA climbed to $3.9 million, reflecting an impressive compound annual growth rate of approximately 70% since H1 FY23.
Alongside revenue growth, SSH has strengthened its balance sheet, reducing hire purchase debt by $3.1 million and boosting total net assets to $13.6 million. The company’s cash position of $6.65 million provides a solid foundation for ongoing project development and operational expansion.
Operational Advances in Gold Projects
Operationally, SSH has accelerated its on-ground activities across multiple gold projects, notably within the Mt Fisher portfolio and the Wagtail Gold Deposit. The company’s integrated mining services model is advancing drilling programs, technical studies, and early works, positioning SSH as both a project operator and a long-term development partner.
High-grade reverse circulation drilling at Wagtail has confirmed strong continuity and coarse gold mineralisation, reinforcing the project’s production potential. Approximately 3,000 metres of infill and grade-control drilling were completed, supporting existing resource models and mine design assumptions. Engagement with third-party toll-treatment providers has also progressed, de-risking processing options and paving a direct path toward near-term production.
Strategic Partnership and Leadership Strengthening
In a significant corporate development, SSH completed a $2.53 million strategic placement to Xinhai Mining Services, forging an alliance that enhances the group’s access to global mining, processing, and project development expertise. This partnership is expected to bolster SSH’s technical capabilities and expand future processing options.
Further strengthening its governance, SSH appointed mining veteran Kevin Malaxos as a Non-Executive Director effective July 1, 2025. Malaxos brings extensive operational and corporate experience, poised to guide SSH through its next growth phase.
Looking Ahead
SSH enters the second half of FY26 with a clear strategic focus on disciplined capital management, debt reduction, and advancing its Hire | Mine | Own strategy. With multiple gold projects progressing toward production decisions and a fortified financial position, the company is well placed to generate sustainable cash flow and build long-term shareholder value.
Bottom Line?
SSH’s strong half-year results and strategic moves set the stage for a pivotal second half focused on production and growth.
Questions in the middle?
- When will SSH provide updated timelines for near-term production at Wagtail and Mt Fisher?
- How will the strategic alliance with Xinhai Mining Services translate into operational advantages?
- What are the company’s plans for further debt reduction and capital allocation in H2 FY26?