EX-99.1 2 tm2510638d2_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

  

 

 

28 March 2025

 

MAC Copper Limited - 2024 Annual Report

 

ST. HELIER, Jersey - (BUSINESS WIRE) – MAC Copper Limited (NYSE: MTAL; ASX:MAC)

 

MAC Copper Limited ARBN 671 963 198 (NYSE: MTAL; ASX: MAC), a private limited company incorporated under the laws of Jersey, Channel Islands (“MAC” or the “Company”) is pleased to provide its FY24 Annual Report, which includes the audited consolidated financial statements.

 

The Company is not an Australian incorporated entity and, accordingly, its 2024 Annual Report has been prepared in a form that complies with its regulatory obligations in the US, Jersey and Australia.

 

The Company will also file the 2024 Annual Report on Form 20-F with the United States Securities Exchange Commission today (“SEC”), Friday, March 28, 2024, which will be substantially identical in content to this 2024 Annual Report, except all disclosure of mineral resources and mineral reserves in that filing will be reported in accordance with subpart 1300 of Regulation S-K, as issued by the SEC.

 

The financial statements included in this Annual Report, for the financial year ended 31 December 2024, will also be filed with the Jersey Financial Services Commission today, Friday, March 28, 2024.

 

The final audited consolidated financial statements have been updated in note 30 to reflect the subsequent event relating to the amendments to MAC’s debt structure which occurred on 13 March 2025. In addition, the final audited consolidated financial statements have been updated from the preliminary financial report issued on 25 February 2025 upon the finalisation of the audit and tax calculations. Income tax expense and net loss after tax have increased by US$11.5 million. This has increased the loss per ordinary share by US$0.16.

 

The 2024 Annual Report can be found at www.maccopperlimited.com.

 

This announcement is authorised for release by the Board.

  

 

Contacts 

 

Mick McMullen  

Chief Executive Officer  

MAC Copper Limited  

investors@metalsacqcorp.com  

Morné Engelbrecht  

Chief Financial Officer 

MAC Copper Limited  

 

    

 

 

 

 A logo with text on it

Description automatically generated

MAC Copper Limited
maccopperlimited.com

3rd Floor, 44 Esplanade,
St Helier, Jersey, JE4

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About MAC Copper Limited

 

MAC Copper Limited (NYSE:MTAL; ASX:MAC) is a company focused on operating and acquiring metals and mining businesses in high quality, stable jurisdictions that are critical in the electrification and decarbonization of the global economy.

 

Forward Looking Statements

 

This release has been prepared by MAC Copper Limited (“Company” or “MAC”) and includes “forward-looking statements.” The forward-looking information is based on the Company’s expectations, estimates, projections and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Assumptions have been made by the Company regarding, among other things: the price of copper, continuing commercial production at the CSA Copper Mine without any major disruption, the receipt of required governmental approvals, the accuracy of capital and operating cost estimates, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used by the Company. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate.

 

MAC’s actual results may differ from expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward- looking statements. These forward-looking statements include, without limitation, MAC’s expectations with respect to future performance of the CSA Copper Mine. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside MAC’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the supply and demand for copper; the future price of copper; the timing and amount of estimated future production, costs of production, capital expenditures and requirements for additional capital; cash flow provided by operating activities; unanticipated reclamation expenses; claims and limitations on insurance coverage; the uncertainty in Mineral Resource estimates; the uncertainty in geological, metallurgical and geotechnical studies and opinions; infrastructure risks;; and other risks and uncertainties indicated from time to time in MAC’s other filings with the SEC and the ASX. MAC cautions that the foregoing list of factors is not exclusive. MAC cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. MAC does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

 

More information on potential factors that could affect MAC’s or CSA Copper Mine’s financial results is included from time to time in MAC’s public reports filed with the SEC and the ASX. If any of these risks materialize or MAC’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that MAC does not presently know, or that MAC currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect MAC’s expectations, plans or forecasts of future events and views as of the date of this communication. MAC anticipates that subsequent events and developments will cause its assessments to change. However, while MAC may elect to update these forward-looking statements at some point in the future, MAC specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing MAC’s assessment as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

  

 

 

 

 A logo with text on it

Description automatically generated

MAC Copper Limited
maccopperlimited.com

3rd Floor, 44 Esplanade,
St Helier, Jersey, JE4

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