Ann: 17% Increase in May Production, page-26

With our current mine plan returning an annual FCF of $94m (using only 40% of the plants capacity) and the company spending $26m (from a standing start) to get all the development done plus a little bit from the latest $10m cap raise, You would think the company can build on this development momentum to keep us on the track to operating at full production capacity and pay dividends this coming financial year.

@VYR with your figure above FCF of $94m for the current mine plan, I would assume this $94m will be attained in FY25 (if Cu prices and FX stay favourable, the figures you used are conservative IMO) . A dividend of 2 cps in FY25 ($42m returned to shareholders) is a 44% payout ratio and still leaves FCF of $52m for additional exploration drilling, resource definition and some breathing space on the balance sheet (which has no debt).

I expect the second half of FY25 we will be operating at a throughput above the current mine plan, at little incremental increase in cost, hence a payout of 2 cps in FY25 should be very easy for the company to achieve while we work toward your figure of FCF being $250m in FY26. If the company adopts a 50% payout ratio in FY26 @InvadorSubziro that gives shareholders a dividend of 6 cps in FY26.

This is what I am planning my future personal expenses around.

GLTAH and DYOR