MAC Copper Ltd Stock Price, News & Analysis

Metals Acquisition (NYSE: MTAL) (ASX:MAC) has reported significant drill results from its CSA Copper Mine exploration program. Key highlights include:

• 19.8m @ 10.9% Cu from 177.1m in UDD23021
• 27.3m @ 8.7% Cu from 126.0m in UDD23019
• 3.8m @ 17.1% Cu from 214.3m in QSDD061
• 23.6m @ 5.2% Cu from 98.7m in UDD24017

The results, which will be incorporated into the 2024 Resource and Reserve Estimate update, demonstrate high-grade copper mineralization across various deposits, including QTS North, QTS Central, and QTSS Upper A. CEO Mick McMullen noted the CSA deposits continue to deliver high-grade intervals, with core deposits grading over 8% Cu providing flexibility throughout the mining cycle. The company also reported promising zinc mineralization in the upper portions of the East and West lenses.

Metals Acquisition (NYSE: MTAL; ASX: MAC) reported strong Q3 2024 results with significant copper production and reduced cash costs. The company produced 10,159 tonnes of copper at the CSA Copper Mine, marking the second-highest production under MAC's ownership. The C1 cash cost improved to US$1.90/lb, a 6% decrease from the previous quarter. Key growth projects aim to increase annual production by 25% by 2026. MAC raised A$150 million (~US$103 million) in equity to retire high-cost debt and pursue growth opportunities. Pro-forma liquidity as of September 30, 2024, stands at ~US$226 million. Safety metrics showed a slight improvement with a TRIFR of 14.2. The company's strategic investment in Polymetals has increased by 21%, and MAC aims to become a +50ktpa copper producer by 2026. Operational free cash flow for the quarter was ~US$30 million, with an average realized copper sales price of US$4.18/lb. The company plans to change its name to MAC Copper to better reflect its business focus.

Metals Acquisition (NYSE: MTAL; ASX: MAC) has announced the release of its third quarter 2024 results on Monday, October 21, 2024 after market close (New York time) / Tuesday, October 22, 2024 before market open (Sydney time). The company will host a conference call and webcast to discuss the results on Monday, October 21, 2024 at 6:00 pm (New York time) / Tuesday, October 22, 2024 at 9:00 am (Sydney time).

Participants can access the webcast at https://event.choruscall.com/mediaframe/webcast.html?webcastid=lgTwEDVD. For expedited access to the call, registration is available at https://dpregister.com/sreg/10193849/fdcbf69714. Alternatively, participants can dial in using the provided toll-free and international numbers. A replay of the webcast will be available for three months via the webcast link or by visiting the Events section of the company's website.

Metals Acquisition (NYSE: MTAL; ASX:MAC) has successfully raised approximately A$150 million (US$103 million) through a placement of 8,333,334 new CHESS Depositary Interests (CDIs) at A$18.00 per CDI. The placement was oversubscribed and well-supported by institutional investors globally.

The proceeds will be used to optimize MAC's balance sheet, retire the Mezzanine Debt Facility, and provide flexibility for strategic growth opportunities. The issue price represents a 13.0% discount to the closing price and 5-day VWAP of A$20.70 on October 8, 2024.

New CDIs are expected to settle on October 14, 2024, and commence trading on the ASX on October 15, 2024. Barrenjoey Markets Pty is acting as the sole Lead Manager and Bookrunner, with Sternship Advisers Pty as Co-Manager.

Metals Acquisition (NYSE:MTAL; ASX:MAC) has announced a A$140 million (~US$96 million) institutional placement of approximately 7.8 million new Chess Depositary Interests (CDIs) at A$18.00 per CDI. The offer price represents a 13% discount to the last closing price and 5-day VWAP on the ASX. Proceeds will be used to optimize the balance sheet and retire the existing US$145 million Mezzanine Debt Facility. Upon settlement, MAC will have a pro-forma cash balance of ~US$177 million and net debt of ~US$134 million. The company reported strong Q3 2024 performance at the CSA Copper Mine, with 10,159 tonnes of copper production at 4% grade and C1 cash costs expected between US$1.90-2.00 per pound. MAC remains on track to meet its full-year 2024 copper production guidance of 38,000-43,000 tonnes.

Metals Acquisition (NYSE: MTAL; ASX: MAC) has announced key details for its 2024 Annual General Meeting (AGM). The AGM is scheduled for November 21, 2024 (New York/Jersey time) or November 22, 2024 (Sydney time). Shareholders must submit proposed business or board nominations by October 4, 2024. The record date for voting eligibility is October 11, 2024 at 8:00 PM (New York time).

Additionally, MAC plans to propose a special resolution at the AGM to change the company name from "Metals Acquisition " to "MAC Copper ". This change aims to better reflect the company's focus on becoming a high-quality copper miner of scale. Full meeting details will be provided in the upcoming Notice of Meeting.

Metals Acquisition (NYSE: MTAL; ASX: MAC) has announced its inclusion in the S&P/ASX 300 Index, effective September 23, 2024. This milestone, achieved shortly after the company's ASX listing, reflects the market's recognition of MAC's foundational asset, the CSA Copper Mine. CEO Mick McMullen highlighted the importance of this inclusion for broader market access, increased global visibility, and enhanced liquidity.

The S&P/ASX 300 Index is designed to provide investors with broader exposure to the Australian equity market, covering large-cap, mid-cap, and small-cap components. MAC's inclusion is expected to potentially increase institutional ownership. The company was also recently added to the Russell 3000® Index and the Solactive Copper Miners Index in North America during 2024.

Metals Acquisition (NYSE: MTAL; ASX: MAC) has announced the release of its half year accounts 2024 results on Wednesday, August 28, 2024, after market close (New York time) / Thursday, August 29, 2024, before market open (Sydney time). The company will host a conference call and webcast to discuss the results on Wednesday, August 28, 2024, at 7:00 pm (New York time) / Thursday, August 29, 2024, at 9:00 am (Sydney time).

Participants can access the webcast through a provided link, and there are options for both expedited access and operator-assisted dial-in for the conference call. A replay of the webcast will be available for three months via the webcast link or by visiting the Events section of the company's website.

Metals Acquisition (NYSE:MTAL; ASX:MAC) has reported significant drill results from its CSA Copper Mine, including high-grade copper intersections in QTS North (QTSN) and QTS Central (QTSC). Notable results include 22.1m @ 9.8% Cu and 24.2m @ 7.8% Cu from QTSN. The company also reported promising zinc-lead-copper results from the Upper Pb-Zn Eastern and Western Lenses.

CEO Mick McMullen highlighted that these results confirm and expand known mineralization, potentially upgrading Inferred resources to Measured and Indicated categories. The drilling program aims to extend resources beyond current mining levels and prepare shallow areas like QTSS Upper for future mining. These results will be incorporated into the 2024 Resource and Reserve Estimate update.