Aurelia metals: reach the peak, page-71

Yes that's right. Jim is at the Sydney Mining Club 4 October @ 12:30. I expect we will see the slides released early tomorrow.

Aurelia Metals begun 2016 staring down Glencore’s double barrels of debt, owing the giant $125M with a meagre market cap of $12M. Today the company has $60M in the bank and a market cap of $550M, a transformation driven by mining engineer Jim Simpson.

The secret? A war on waste. Beginning as a consultant in 2016 for the Hera operation then quickly appointed Managing Director, Simpson has fought to save every dollar, targeting the double-handling of waste and utilisation of a smaller development drive. Simpson says, ‘There is really only one thing you can control in mining … it's your costs. You have to fight for every dollar. Because that's another dollar that doesn't go to the bottom line!’

The recent acquisition of Peak Mines and strong production from Hera has resulted in a four-fold increase in profit for 2017-18, the best in the company’s 8-year history. With an ambitious to-do list already written, including upgrading milling circuits at Peak and Hera, Aurelia’s Simpson-lead success has only just begun.

All the best.

KKR