All-in Cost Breakdown
1 Adjusted operating costs include production costs such as mining production and maintenance costs, royalties, and operating costs such as storage, net of by-product credits. These costs may vary depending on seasonal or cyclical factors, including among others, rainy season and grade of gold extracted from the ore.
2 All-in sustaining costs include adjusted operating costs and sustaining capital expenditure, corporate general and administrative expenses, exploration expense, reflecting the full cost of gold production from current operations.
3 Include all-in sustaining costs and non-sustaining costs. Non-sustaining costs are costs incurred for new operations and costs related to construction of the additional production facility for the existing operations where these projects are expected to materially increase production in future.
In 2H2024, the all-in costs per ounce increased by 41% compared to 2H2023. This was primarily due to higher adjusted operating costs, including increased mining-related costs and royalty and tribute expenses. General administrative costs also rose due to higher performance-based bonuses and expanded operational activities during the period.
For FY2024, the all-in costs per ounce increased by 17% compared to FY2023. The rise was largely driven by the same factors as in 2H2024, but to a lesser extent, as economies of scale and operational efficiencies from increased production volumes over the full year helped mitigate the overall cost increase.
For the avoidance of doubt, the information provided above is intended to provide additional information to shareholders and should not be considered in isolation, nor as a substitute for measures of performance prepared in accordance with FRS.