SSH Group Posts 31% Revenue Rise to $12M, Boosted by Wagtail Drilling and Strategic Placement
SSH Group Ltd reported a robust December quarter with a 31% revenue increase, driven by strong mining and hire division performances. The company advanced its Wagtail Gold Deposit development and secured a $2.53 million strategic placement with Xinhai Mining Services, positioning itself for growth in 2026.
- 31% revenue growth year-on-year to $12 million in December quarter
- Strategic $2.53 million equity placement with Xinhai Mining Services completed
- Wagtail Gold Deposit drilling confirms grade continuity and supports mine planning
- KMH Hire division achieves high fleet utilisation and workforce deployment
- Strong cash position of $6.65 million with positive operating cash flow
Robust Financial Performance
SSH Group Ltd (ASX – SSH) has delivered a strong December 2025 quarter, reporting a 31% increase in revenue to $12 million compared to the prior corresponding period. This growth was underpinned by solid performances across both its mining and hire divisions, reflecting sustained demand and operational efficiency. The company closed the quarter with a healthy cash balance of $6.65 million and continued positive operating cash flow, reinforcing its financial stability as it advances key projects.
Advancing the Wagtail Gold Deposit
Operationally, SSH made significant progress on its gold development portfolio, particularly at the Wagtail Gold Deposit within the Mt Fisher project area. Infill and grade control drilling confirmed the continuity and coarse-gold nature of the mineralisation, strengthening confidence in the geological model and mine planning assumptions. These technical milestones pave the way for production readiness, supported by ongoing metallurgical test work and engagement with third-party processing providers to establish clear pathways to production.
Strategic Partnership with Xinhai Mining Services
In a notable corporate development, SSH completed a $2.53 million strategic equity placement with Xinhai Mining Services Pty Ltd, a global mining and processing group. This partnership aligns SSH’s vertically integrated Hire | Mine | Own strategy with Xinhai’s global engineering and operational expertise, enhancing SSH’s technical capabilities and balance sheet strength. The collaboration is expected to accelerate SSH’s mining services and project development initiatives, particularly as it seeks to expand its footprint across Western Australia.
Strong Performance in Hire Division
The KMH Hire vertical, part of SSH’s diversified business model, delivered exceptional operational results during the quarter. High fleet utilisation and skilled workforce deployment across mining and infrastructure projects underscored the division’s role as a stable, cash-generating foundation supporting the Group’s growth strategy. This performance highlights the resilience and scalability of SSH’s integrated service offerings amid a competitive market environment.
Looking Ahead to 2026
SSH enters the new year with strong momentum and a robust pipeline of project and contract opportunities. Key priorities include advancing the Mt Fisher and Wagtail projects toward production readiness, securing additional mining services agreements, and progressing major mining tenders currently under evaluation. Managing Director Daniel Cowley-Cooper emphasised the company’s disciplined capital management and focus on value-accretive growth, positioning SSH for an active and productive 2026.
Bottom Line?
With solid financial footing and strategic partnerships in place, SSH Group is poised to translate its development progress into tangible production and contract wins in the year ahead.
Questions in the middle?
- How will the partnership with Xinhai Mining Services influence SSH’s technical capabilities and project timelines?
- What are the expected production milestones and timelines for the Wagtail Gold Deposit in 2026?
- How competitive is SSH’s tender pipeline in Western Australia’s mining sector, and what contracts are most critical?
