130 BWA | JUL 2026 The 2025 financial results showed why that reset matters. In February 2026, 29Metals reported group EBITDA of $176 million and NPAT of $24 million for the year ended 31 December 2025, with drawn debt reduced by $74 million to $188 million and total revenue rising to $566.6 million. The company noted that both EBITDA and NPAT included $54 million of insurance proceeds, but the overall result still reflected a much stronger operational footing than the year before. Golden Grove is central to that improved footing. The company describes it as a world-class VHMS geological system with a 2024 mining rate of 1.47 Mtpa, mine life of more than 10 years and ore reserves of 16.5 Mt as at 31 December 2024. Its history stretches back to the 1971 discovery of the district by an unincorporated joint venture between Aztec Mining and AMAX Mining Limited, with underground mining commencing in 1989 and subsequent expansion through Scuddles and Gossan Hill.
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