Board Change • May 20
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Ying Chen was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Duyuru • Mar 03
MMG Limited, Annual General Meeting, May 28, 2026 MMG Limited, Annual General Meeting, May 28, 2026. Duyuru • Jan 22
MMG Limited Provides Production Guidance for the Full Year 2025 MMG Limited provided production guidance for the full year 2025. For the year, the company expects Las Bambas is targeting 400,000 tonnes of copper production, with a guided range of 380,000 tonnes 400,000 tonnes. C1 Costs for 2026 are anticipated to range between USD 1.20/lb and USD 1.40/lb. Copper production at Kinsevere is expected to range between 65,000 tonnes and 75,000 tonnes, with a focus on stabilising operations and implementing a Battery Energy Storage System (BESS) to reduce the impacts from the frequent power trips. C1 costs for 2026 are guided at USD 2.50/lb USD 2.90/lb. Copper production at Khoemacau is expected to range between 48,000 tonnes and 53,000 tonnes in copper concentrate, supported by planned access to higher-grade zones in Zone 5 North and enhanced mine development. C1 costs for 2026 are expected to be USD 2.00/lb USD 2.30/lb. Zinc production at Dugald River is expected to range between 170,000 tonnes and 180,000 tonnes in zinc concentrate, slightly below the record production set in 2025 due to the mine's progression at depth and weather-related challenges. C1 costs for 2026 are projected at USD 0.80/lb USD 0.95/lb. Zinc production at Rosebery is expected to range between 45,000 tonnes and 55,000 tonnes in zinc concentrate, with zinc equivalent production expected at 125,000 tonnes 140,000 tonnes. The mine's C1 costs for 2026 are forecast to range from negative USD 0.60/lb to negative USD 0.10/lb. Reported Earnings • Aug 18
First half 2025 earnings released: EPS: US$0.028 (vs US$0.002 in 1H 2024) First half 2025 results: EPS: US$0.028 (up from US$0.002 in 1H 2024). Revenue: US$2.82b (up 47% from 1H 2024). Net income: US$340.0m (up US$318.9m from 1H 2024). Profit margin: 12% (up from 1.1% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Duyuru • Jun 06
MMG Limited to Report First Half, 2025 Results on Aug 12, 2025 MMG Limited announced that they will report first half, 2025 results on Aug 12, 2025 Duyuru • Mar 28
MMG Limited to Report Fiscal Year 2024 Results on Apr 24, 2025 MMG Limited announced that they will report fiscal year 2024 results at 4:00 PM, China Standard Time on Apr 24, 2025 Duyuru • Mar 04
MMG Limited, Annual General Meeting, May 22, 2025 MMG Limited, Annual General Meeting, May 22, 2025. Duyuru • Jan 23
MMG Limited to Report Fiscal Year 2024 Results on Mar 04, 2025 MMG Limited announced that they will report fiscal year 2024 results on Mar 04, 2025 Reported Earnings • Sep 20
First half 2024 earnings released: EPS: US$0.002 (vs US$0.007 loss in 1H 2023) First half 2024 results: EPS: US$0.002 (up from US$0.007 loss in 1H 2023). Revenue: US$1.92b (up 1.2% from 1H 2023). Net income: US$21.1m (up US$79.9m from 1H 2023). Profit margin: 1.1% (up from net loss in 1H 2023). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Duyuru • Sep 13
MMG Limited to Report First Half, 2024 Results on Sep 19, 2024 MMG Limited announced that they will report first half, 2024 results on Sep 19, 2024 Duyuru • Aug 23
MMG Limited Appoints Jing Zhao (Ivo) as Executive General Manager Americas, Effective 1 September 2024 The board of directors of MMG Limited (Company) refers to the announcement made on 31 May 2024 with regard to the resignation of Mr. Jianxian Wei as Executive General Manager Americas (EGM Americas) and the appointment of Mr. Jing Zhao (Ivo) (Mr. Zhao) to the position of Interim EMG Americas with effect from 1 June 2024. The Board announced that Mr. Zhao has been appointed as the EMG Americas with effect from 1 September 2024. Prior to his appointment as the EGM Americas, Mr. Zhao was the Vice President of Sustainability & Corporate Affairs at Minera Las Bambas S.A., a non-wholly owned subsidiary of the Company since 2022. Mr. Zhao was also the Deputy Director of the International Cooperation Division of China Minmetals Corporation from 2020 to 2021. He has nearly 20 years extensive practical experience in international management and is proficient in dealing with stakeholder relations in the mining industry. Mr. Zhao holds a Bachelor's Degree in Spanish Language from the Beijing Language Culture University and a Master's Degree in Business Administration from Université du Québec à Montréal. Reported Earnings • Aug 16
First half 2024 earnings released: EPS: US$0.002 (vs US$0.007 loss in 1H 2023) First half 2024 results: EPS: US$0.002 (up from US$0.007 loss in 1H 2023). Revenue: US$1.92b (up 1.2% from 1H 2023). Net income: US$21.1m (up US$79.9m from 1H 2023). Profit margin: 1.1% (up from net loss in 1H 2023). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. New Risk • Aug 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 10.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.7x net interest cover). Share price has been highly volatile over the past 3 months (10.0% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (0.2% net profit margin). Shareholders have been diluted in the past year (40% increase in shares outstanding). Duyuru • Jul 24
MMG Limited Provides Production Guidance for the Full Year 2024 MMG Limited provided production guidance for the full year 2024. The previous production guidance for Las Bambas, set at 280,000 to 320,000 tonnes of copper in 2024, remains unchanged. Actual production is expected to be towards the higher end of this range. Kinsevere copper cathode production guidance for 2024 remains unchanged within the range of 39,000 to 44,000 tonnes. In line with prior guidance, Khoemacau copper production for the full year of 2024 is expected to be between 40,000 and 50,000 tonnes (30,500 40,500 tonnes from 23 March 2024). Rosebery's zinc production guidance for 2024 remains within 50,000 to 60,000 tonnes, with zinc equivalent production projected between 115,000 to 130,000 tonnes. New Risk • Jul 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 40% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.7x net interest cover). Minor Risks Share price has been volatile over the past 3 months (9.5% average weekly change). Profit margins are more than 30% lower than last year (0.2% net profit margin). Shareholders have been diluted in the past year (40% increase in shares outstanding). Duyuru • Jun 13
MMG Limited to Report First Half, 2024 Results on Aug 13, 2024 MMG Limited announced that they will report first half, 2024 results on Aug 13, 2024 New Risk • Jun 12
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 40% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.7x net interest cover). Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (0.2% net profit margin). Shareholders have been diluted in the past year (40% increase in shares outstanding). Board Change • Apr 29
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Peter Chan was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 25
Full year 2023 earnings released: EPS: US$0.001 (vs US$0.02 in FY 2022) Full year 2023 results: EPS: US$0.001 (down from US$0.02 in FY 2022). Revenue: US$4.35b (up 34% from FY 2022). Net income: US$9.00m (down 95% from FY 2022). Profit margin: 0.2% (down from 5.3% in FY 2022). Production and reserves: Copper Production: 0.303 Mt (0.256 Mt in FY 2022) Proved and probable reserves (ore): 787.2 Mt (852.1 Mt in FY 2022) Number of mines: 3 (2 in FY 2022) Zinc Production: 0.203 Mt (0.225 Mt in FY 2022) Proved and probable reserves (ore): 24.5 Mt (27.5 Mt in FY 2022) Number of mines: 2 (2 in FY 2022) Lead Production: 39,054 t (38,946 t in FY 2022) Proved and probable reserves (ore): 24.5 Mt (27.5 Mt in FY 2022) Number of mines: 2 (2 in FY 2022) Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Duyuru • Mar 06
MMG Limited, Annual General Meeting, May 23, 2024 MMG Limited, Annual General Meeting, May 23, 2024. Reported Earnings • Mar 05
Full year 2023 earnings released: EPS: US$0.001 (vs US$0.02 in FY 2022) Full year 2023 results: EPS: US$0.001 (down from US$0.02 in FY 2022). Revenue: US$4.34b (up 34% from FY 2022). Net income: US$9.00m (down 95% from FY 2022). Profit margin: 0.2% (down from 5.3% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.9% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Duyuru • Jan 08
MMG Limited to Report Fiscal Year 2023 Results on Mar 05, 2024 MMG Limited announced that they will report fiscal year 2023 results on Mar 05, 2024 Duyuru • Nov 23
MMG Limited (SEHK:1208) entered into the agreement to acquire Cuprous Capital Ltd from Cupric Canyon Capital LP, Missouri Local Government Employees Retirement System, Resource Capital Fund VII L.P., a fund managed by RCF Management, LLC and The Ferreira Family Trust for $1.9 billion. MMG Limited (SEHK:1208) entered into the agreement to acquire Cuprous Capital Ltd from Cupric Canyon Capital LP, Missouri Local Government Employees Retirement System, Resource Capital Fund VII L.P., a fund managed by RCF Management, LLC and The Ferreira Family Trust for $1.9 billion on November 20, 2023. The purchase price of $1.875 billion for Cuprous Capital (the "Enterprise Value") has been calculated on a cash-free and debt-free basis. The Base Consideration is equal to the Enterprise Value less the net debt balance of $268.5 million. The aggregate consideration is also subject to the possible adjustments. MMG will pay the sum of the aggregate consideration and the aggregate debt settlement amount at completion. As at the date of signing the agreement, MMG has secured a commitment for the Shareholder Loan as to the entire sum of the Consideration. Post acquisition, Cuprous Capital will be become an indirect wholly owned subsidiary of MMG. As of December 31, 2022, Cuprous Capital has reported the net profit before and after income tax and extraordinary items was $21,027,629 and $18,898,053, respectively and had a net asset value of $888,346,603. If the agreement is terminated by the Lead Seller solely due to the failure to fulfil any of the conditions by MMG, then MMG shall pay the pro rata portion of the SPA Break Fee, being 5% of the base consideration, to each Seller within thirty Business Days.
The transaction is subject to for all Project Licenses, the approval of the Minister of Minerals of Botswana and Energy to the change in control of Cuprous Capital brought about by the acquisition having been obtained; the approval of the acquisition by the Competition and Consumer Authority of Botswana having been obtained and not withdrawn; the approval of the Acquisition by the State Administration for Market Regulation of the PRC having been obtained and the completion of the notification filing to the National Development and Reform Commission of the PRC in respect of the Acquisition. Completion expected to occur in 1st half of 2024. The transaction has been approved by China Minmetals H.K. (Holdings) Limited, holding directly approximately 67.55% of MMG. The transaction is immediately earnings accretive. Macquarie Capital Limited acted as financial advisor and Deloitte Touche Tohmatsu acted as accountant to MMG. Citigroup acted as financial advisor, Herbert Smith Freehills and Akheel Jinabhai & Associates acted as legal advisors to MMG. BMO Capital Markets and UBS acted as financial advisors to Cupric. White & Case LLP and Bookbinder Business Law acted as legal advisors to Cupric. Duyuru • Oct 27
MMG Limited Provides Production Guidance for the Full Year 2023 MMG Limited provided production guidance for the full year 2023. The company's revised full-year copper production guidance is now anticipated to be in the range of 328,000 to 353,000 tonnes, at the higher end of the previous guidance, primarily due to the stability in operations at Las Bambas since March. The full-year zinc production guidance is now expected to be between 188,000 and 203,000 tonnes, at the lower end of the previous guidance. This is primarily due to challenges faced with mining at depth at Rosebery and its lower than planned milled ore grades resulting from the mining sequence. Duyuru • Aug 19
MMG Limited Appoints Xu Jiqing as Chairman The board of directors of MMG Limited announced that the appointment of Mr. Xu Jiqing, currently a Non-executive Director, as the chairman of the Board with effect from 18 August 2023. Mr. Xu, aged 55, was re-designated from an Executive Director to a Non-executive Director of the Company in January 2020. Prior to his redesignation, he was an Executive Director and Executive General Manager of the Company from May 2013 to December 2019 with responsibility for various areas, most recently China Relations, Marketing and Supply. Mr. Xu was also a Non- executive Director of the Company from May 2009 to May 2013. He is a member of the Company's Audit and Risk Management Committee and the Governance, Remuneration, Nomination and Sustainability Committee. Mr. Xu was appointed as President of China Minmetals Non-ferrous Metals Company Limited (CMN) in January 2020. He has been a director of CMN since February 2016. Mr. Xu holds a Bachelor's degree in Accounting from the University of International Business and Economics in the People's Republic of China (PRC), and a Master's degree in Business Administration from Saint Mary's University in Canada. He is a qualified senior accountant in the PRC, a fellowship member of the Certified General Accountants Association of Canada and a chartered professional accountant member of the Chartered Professional Accountants of British Columbia, Canada. Mr. Xu has extensive experience in strategic planning, accounting, marketing and corporate financial and risk management. Mr. Xu joined the China Minmetals Corporation Group in 1991, holding a number of management roles from 1997 in various Finance departments. He was the Vice President and Chief Financial Officer of CMN between 2005 and 2013. Reported Earnings • Aug 17
First half 2023 earnings released: US$0.007 loss per share (vs US$0.009 profit in 1H 2022) First half 2023 results: US$0.007 loss per share (down from US$0.009 profit in 1H 2022). Revenue: US$1.90b (up 35% from 1H 2022). Net loss: US$58.8m (down 174% from profit in 1H 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Duyuru • Jul 14
MMG Limited Provides Exploration Update for the Las Bambas and Rosebery Mines The board of directors (Board) of MMG Limited provided the exploration update for the Las Bambas and Rosebery mines. The report is annexed to this announcement. By order of the Board. MMG Limited. MMG operates the Las Bambas copper mine in Peru and the Rosebery Mine in Tasmania, Australia. Las Bambas is a joint venture project between the operator MMG (62.5%), a wholly owned subsidiary of Guoxin International Investment Co. Ltd. (22.5%) and CITIC Metal Co. Ltd. (15.0%). Rosebery is 100% owned and operated by MMG Limited. MMG wishes to provide an update to the Hong Kong Stock Exchange on progress with exploration activities on both Las Bambas and Roseberry. This report of exploration results is voluntary and is made in accordance with the JORC Code (2012). The complete report including the "Table 1 Checklist of Assessment and Reporting Criteria" required by the JORC Code (2012) can be found on the MMG website at the following address. Ferrobamba Deeps, Las Bambas. Deep drilling below the current Ferrobamba pit has been successful at defining the depth extension and continuity of skarn and porphyry mineralisation beneath the 2022 Ore Reserve pit design. It is now recognised that potential for large tonnage 0.4% to 0.6% Cu, 200 to 500 ppm Mo, 2g/t to 4g/t Ag and 0.04g/t to 0.08g/t Au grade deposit may exist at Ferrobamba Deeps. The positive drill results received in the 2022 program are supporting ongoing studies and further drilling is planned for 2023 and 2024 to evaluate the mineralisation and determine potential mining methods including expansion of the open pit and /or an underground development. Mineralisation at Ferrobamba occurs in semicontinuous zones which are distributed around the central porphyry stocks. The Ferrobamba Deeps mineralisation, which has been intersected up to 700m below the Ore Reserve pit, has been divided into five zones. Duyuru • Jun 16
MMG Limited to Report First Half, 2023 Results on Aug 15, 2023 MMG Limited announced that they will report first half, 2023 results on Aug 15, 2023 Reported Earnings • Mar 09
Full year 2022 earnings released: EPS: US$0.02 (vs US$0.079 in FY 2021) Full year 2022 results: EPS: US$0.02 (down from US$0.079 in FY 2021). Revenue: US$3.25b (down 24% from FY 2021). Net income: US$172.4m (down 74% from FY 2021). Profit margin: 5.3% (down from 16% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 1.1% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 01
MMG Limited Provides Production Guidance for the Year 2023 MMG Limited provided production guidance for the year 2023. For the year 2023, Las Bambas copper production for 2023 is expected to be in the range of 265,000 and 305,000 tonnes. Kinsevere copper cathode production for 2023 is expected to be in the range of 40,000 and 48,000 tonnes. Dugald River zinc production for 2023 is expected to be in the range of 170,000 and 185,000 tonnes of zinc in zinc concentrate. Rosebery zinc production for 2023 is expected to be in the range of 55,000 and 65,000 tonnes of zinc in zinc concentrate. Duyuru • Jan 20
MMG Limited to Report Fiscal Year 2022 Results on Mar 07, 2023 MMG Limited announced that they will report fiscal year 2022 results on Mar 07, 2023 Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Cheuk Yan Leung was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Duyuru • Oct 08
MMG Limited Announces Executive Changes MMG Limited announced that Ms Leung Suet Kam Lucia (Ms Leung) has tendered her resignation as the company secretary of the Company and an authorised representative of the Company (Authorised Representative) under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (Stock Exchange) with effect from 8 October 2022. The Board further announced that Ms Wong Lok Wun (Ms Wong) has been appointed as the Company Secretary and the Authorised Representative with effect from 8 October 2022. Ms Wong has over 15 years of experience in the corporate secretarial field and has been providing professional corporate services to Hong Kong listed companies and private companies. Ms Wong is a chartered secretary, a chartered governance professional and an associate member of The Hong Kong Chartered Governance Institute (HKCGI) (formerly known as The Hong Kong Institute of Chartered Secretaries). Duyuru • Sep 23
MMG Limited Provides Production Guidance for the Full Year 2022 MMG Limited provides production guidance for the full year 2022. For the period, the company, expect copper production at Las Bambas and Kinsevere is now expected to be around 290,000 tonnes. Zinc production guidance is maintained in the range of 225,000 tonnes to 255,000 tonnes. Reported Earnings • Aug 20
First half 2022 earnings released: EPS: US$0.009 (vs US$0.049 in 1H 2021) First half 2022 results: EPS: US$0.009 (down from US$0.049 in 1H 2021). Revenue: US$1.41b (down 42% from 1H 2021). Net income: US$79.5m (down 80% from 1H 2021). Profit margin: 5.6% (down from 16% in 1H 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 29%, compared to a 4.8% growth forecast for the Metals and Mining industry in Germany. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Duyuru • Jul 26
MMG Limited Provides Production Guidance for the Year 2022 MMG Limited provided production guidance for the year 2022. Copper cathode production guidance for 2022 is now expected to be at the higher end of the guidance range of 45,000 to 50,000 tonnes, with improved mining rates, grades, and plant performance in the second half of the year. Production guidance for Dugald River in 2022 remains at 170,000 and 190,000 tonnes of zinc in zinc concentrate. In line with prior guidance, Rosebery is expected to produce between 55,000 and 65,000 tonnes of zinc in zinc concentrate in 2022. Duyuru • Jun 17
MMG Limited to Report First Half, 2022 Results on Aug 18, 2022 MMG Limited announced that they will report first half, 2022 results on Aug 18, 2022 Reported Earnings • Apr 28
Full year 2021 earnings released: EPS: US$0.079 (vs US$0.008 loss in FY 2020) Full year 2021 results: EPS: US$0.079 (up from US$0.008 loss in FY 2020). Revenue: US$4.26b (up 40% from FY 2020). Net income: US$667.1m (up US$731.8m from FY 2020). Profit margin: 16% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Production and reserves: Copper Production: 0.292 Mt (0.313 Mt in FY 2020) Proved and probable reserves (ore): 866.1 Mt (885 Mt in FY 2020) Number of mines: 2 (2 in FY 2020) Zinc Production: 0.25 Mt (0.245 Mt in FY 2020) Proved and probable reserves (ore): 30.1 Mt (32.6 Mt in FY 2020) Number of mines: 2 (2 in FY 2020) Lead Production: 45,414 t (47,119 t in FY 2020) Proved and probable reserves (ore): 30.1 Mt (32.6 Mt in FY 2020) Number of mines: 2 (2 in FY 2020) Over the next year, revenue is forecast to grow 8.5%, compared to a 33% growth forecast for the mining industry in Germany. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Cheuk Yan Leung was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Duyuru • Jan 25
MMG Limited Provides Production Guidance for the Year 2022 MMG Limited Provided Production Guidance for the Year 2022. Copper cathode production at Kinsevere for 2022 is expected to be in the range of 45,000-50,000 tonnes. Las Bambas production for 2022 is expected to be in the range of 300,000 to 320,000 tonnes of copper in concentrate. Dugald River is expected to produce between 170,000 and 190,000 tonnes of zinc in zinc concentrate and Rosebery is expected to produce between 55,000-65,000 tonnes of zinc in zinc concentrate in 2022. Board Change • Dec 04
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 5 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Non-Executive Director Jiaqiang Chen was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Duyuru • Jul 20
MMG Limited Provides Earnings Guidance for the Half Year Ended June 30, 2021 MMG Limited provided earnings guidance for the half year ended June 30, 2021. For the half year, the Company is expected to record a net profit after tax attributable to equity holders for the half year ended 30 June 2021 of approximately USD 400 million, as compared to the net loss after tax attributable to equity holders of USD 158 million recorded for the half year ended 30 June 2020. Duyuru • Jun 09
MMG Limited has completed a Follow-on Equity Offering in the amount of HKD 2.34475 billion. MMG Limited has completed a Follow-on Equity Offering in the amount of HKD 2.34475 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 565,000,000
Price\Range: HKD 4.15
Transaction Features: Subsequent Direct Listing Duyuru • Apr 24
MMG Limited Provides Production Guidance for the Year 2021 MMG Limited provided production guidance for the year 2021. For the period, the company expects Las Bambas Copper production to be between 310,000 tonnes to 330,000 tonnes. Dugald River Zinc production to be between 180,000 tonnes to 190,000 tonnes. Kinsevere Copper production to be between 50,000 tonnes to 60,000 tonnes. Rosebery Zinc production to be between 60,000 tonnes to 70,000 tonnes. Duyuru • Mar 04
MMG Limited to Report Fiscal Year 2020 Results on Apr 19, 2021 MMG Limited announced that they will report fiscal year 2020 results on Apr 19, 2021 Duyuru • Feb 10
MMG Limited, Annual General Meeting, May 20, 2021 MMG Limited, Annual General Meeting, May 20, 2021. Duyuru • Jan 12
MMG Limited Announces Las Bambas Update MMG Limited update regarding Las Bambas that was released on 24 December 2020. The company welcomes the removal of roadblocks in the Velille district in the Chumbivilcas province in Peru, which had disrupted logistics transport. Concentrate transport from Las Bambas will now progressively resume while dialogue continues with relevant parties. With the resumption of concentrate transport, work to reduce a stockpile of copper concentrate held at site can also continue. The stockpile is a result of historical and recent community actions, together with COVID-19 related government restrictions on transport. As at 31 December 2020, the balance of copper contained in concentrate held at site was approximately 65,000 tonnes. This represents an 18,000 tonne net increase on the previously disclosed 30 September balance of approximately 47,000 tonnes. The increase is directly attributable to the actions at Velille, which did not ultimately impact production. Steps are being taken to clear the stockpile as soon as possible. This is expected to extend into the second quarter of 2021. As a result of the Velille road block, in late December the Company provisionally sold concentrate containing approximately 18,000 tonnes of copper. This remains warehoused at site and is included in the quoted stockpile balance, however no longer forms part of Las Bambas' inventory as ownership has passed to customers. Final pricing for these sales will be determined in accordance with customary quotational period arrangements once shipped. Duyuru • Jan 07
MMG Limited to Report Fiscal Year 2020 Results on Mar 03, 2021 MMG Limited announced that they will report fiscal year 2020 results on Mar 03, 2021 Duyuru • Jul 24
MMG Limited to Report First Half, 2020 Final Results on Aug 19, 2020 MMG Limited announced that they will report first half, 2020 final results on Aug 19, 2020 Duyuru • Jul 22
MMG Limited Provides Earnings Guidance for the Half Year Ended 30 June 2020 MMG Limited provided earnings guidance for the half year ended 30 June 2020. The board of directors of the Company informed the shareholders and potential investors of the Company that the Company is expected to record a net loss after tax attributable to equity holders for the half year ended 30 June 2020 of approximately USD 158 million, as compared to the net loss after tax attributable to equity holders of USD 81 million recorded for the half year ended 30 June 2019. The expected first half of 2020 result represents a deterioration in underlying operating conditions from first half of 2019 with lower commodity prices and lower sales volumes due to the impacts of the COVID-19 pandemic and community disruption at Las Bambas.