Vault Minerals has reported a strong first full year of operations, driven by robust cashflow and operational efficiency.
Strong Financial Results for FY25
The company achieved operating cashflow of $560.2 million for the 2024–25 financial year (FY25). Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) reached $619.4 million, while net profit after tax (NPAT) was $237 million.
EBITDA surged 221 per cent compared with the previous year, delivering an impressive EBITDA margin of 43 per cent.
Gold Production and Sales Performance
They recorded group gold production of 380,985 ounces. Gold sales reached 385,232 ounces at an all-in sustaining cost (AISC) of $2422 per ounce.
Group sales revenue totalled $1.43 billion, with an average realised gold price of $3684 per ounce. Cash and bullion holdings ended at $685.9 million, with no debt.
The company said the result demonstrated the strong cash generation capacity of Vault’s diversified portfolio of operations.
Leonora Operation Reset
“FY25 saw a significant re-set program implemented at the long-life Leonora operation, culminating in … a targeted 20 per cent increase in peak output on FY25 levels,” the company said.
Vault Minerals highlighted that the reset strengthened Leonora’s long-term potential, creating a more resilient and productive asset.
“The work completed through FY25 has resulted in a stronger and more resilient business which has provided the board with the confidence to announce the first buy-back in Vault’s short history.”
What is the Share Buy-Back Program Vault Minerals Announced?
Vault Minerals confirmed the launch of its maiden share buy-back scheme. The decision reflects confidence in the company’s balance sheet and future outlook.
“The buy-back is a disciplined mechanism to return capital and reflects the board’s confidence in the strong balance sheet and cash generation outlook of the group,” the company said.
What is the Vault Minerals Leadership Transition?
Alongside the financial update, Vault Minerals announced that CEO and managing director Luke Tonkin will step down within 12 months.
Tonkin became managing director following Vault’s merger with Silver Lake Resources in June 2024. He had served as Silver Lake’s managing director since 2014.
Recognition of Leadership Contribution
Vault chair Russell Clark praised Tonkin’s long-term contribution.
Clark said Tonkin had provided “dedicated and inspirational leadership” and “introduced a discipline to the business that has seen it grow and prosper”.
“In the past 12 months he has overseen the successful integration of Red 5 and Silver Lake to form Vault,” Clark said.
“Re-engineering the KOTH mine site as a lower grade bulk open pit operation with mine life now stretching out almost 20 years is a significant achievement with increased reserves, better mining practices, renewed exploration and the expansion of the processing plant to treat 50 per cent more ore annually.”
Tonkin will remain in his role until a successor is appointed and the leadership handover is completed.