Copper 360 has reported a transformative financial year ended 28 February 2026, successfully concluding a recapitalisation in December 2025 that extinguished R715 million ($44.1 million) of legacy debt and raised R400 million ($24.7 million) in fresh equity, fundamentally reshaping the group’s balance sheet.
Total borrowings were reduced by 63% to R304 million ($18.7 million) from peak levels of R824 million ($50.8 million) prior to recapitalisation.
The company reported revenue of R143 million ($8.8 million), unchanged from the prior year, with a gross loss of R157 million ($9.7 million).
Operating loss decreased by 42% to R213 million ($13.1 million), while loss after tax fell 17% to R265 million ($16.3 million).
Post year‑end, Copper 360 completed an operational restructure, simplifying its mining strategy, selectively outsourcing specialist functions, and rightsizing the organisation. The debt‑to‑equity ratio improved to 0.40 from 2.92, and the current ratio to 1.36 from 0.36.
No dividend was declared as the company focuses cash resources on the development of the Rietberg Mine.
Meanwhile, the company said copper metal equivalent production remained broadly flat at 1,067 tonnes, while concentrate copper production increased by 44% to 1,067 tonnes, with plant recovery improving to 71.8% in the second half of the financial year.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
