Ben Wood's questions to MAC Copper (MTAL) leadership • Q1 2025
Question
Ben Wood from Wilsons Advisory asked for clarification on the 2026 production guidance, questioning if a reference to 'copper equivalent' signaled a greater emphasis on zinc. He also sought confirmation on the remaining budget for the ventilation project.
Answer
CEO Michael James McMullen clarified that while the guidance now incorporates zinc due to the Polymetals agreement, the outlook has not become more conservative and, in fact, has upside risk from the Merrin mine. He confirmed the ventilation project's budget of approximately AUD 42 million is still on track, noting that the cost per meter of development has been decreasing as activity ramps up.