MTAL - Metals Acquisition Limited (MTAL) Q1 2024 Earnings Call Transcript
2024-04-30 00:13:09 ET
Metals Acquisition Limited (MTAL)
Q1 2024 Earnings Conference Call
April 29, 2024 07:00 PM ET
Company Participants
Sandy Noyes - Head, IR
Mick McMullen - CEO
Morne Engelbrecht - CFO
Conference Call Participants
Daniel Morgan - Barrenjoey
Sam Catalano - Wilsons
Eric Windmill - Scotiabank
David Radclyffe - Global Mining Research
Tim Hoff - Canaccord
Jackie Przybylowski - BMO
Presentation
Operator
Hello and welcome to the Metals Acquisition First Quarter 2024 Results Conference. At this time, all parties are in a listen-only mode. Later, you will have an opportunity to ask questions. [Operator Instructions] Please note that this call is being recorded and I will be standing by should you require any assistance.
I would now like to the call over to CEO, Mick McMullen. Please begin.
Mick McMullen
Thank you, and thank you, everyone, for joining. I'll be speaking to these presentation slides today along with Morne Engelbrecht, our CFO. We're going to give an update on our Q1 2024 results as well as a bit of an update on the business up until now.
So, CSA, obviously, we own is a very high-grade copper mine sitting in a Tier 1 jurisdiction in Western New South Wales. And as most of the people on the call would know, it's been operating for a very long period of time. And so it's sort of a known quantity in terms of infrastructure and great relationships with local stakeholders and a very stable regulatory taxable royalty regime, which in day and age is becoming increasingly rare.
The company has got just under 70 million shares in issue. We, as everyone would know, we're listed on the New York Stock Exchange as well as the ASX. And the enterprise value is near -- about $1.1 billion. We have a very strong register, large institutional banking, not a lot of retail in the company. And we view CSA as a great foundational asset for us in terms of a phenomenal resource in the ground with a lot of excess infrastructure.
We thought we'd put in a bit of a scorecard for us to sort of mark how we've progressed along our journey since acquiring the mine back in June of last year. And I think overall, we've delivered on many of the things that we said to people we would do. Obviously, closing the mine with the first of those, operate the mine safely and in a fully permitted fashion.
We managed to deliver on several key permits since we got the mine, including the Tailings [ph] M Stage 10 lift. We said we'd deliver a large resource increase. We always believe that the mineral resource and reserve have potential for significant expansion and as with our call last week, we've delivered on that....
Metals Acquisition Limited (MTAL) Q1 2024 Earnings Call Transcript