Ivanhoe Mines Ltd (OTCPK:IVPAF)
$ 14.07 0.9 (6.83%) Market Cap: 18.99 Bil Enterprise Value: 17.76 Bil PE Ratio: 127.91 PB Ratio: 3.99 GF Score: 45/100
Back to the Transcripts List

Q2 2024 Ivanhoe Mines Ltd Earnings Call Transcript

Jul 31, 2024 / 02:30PM GMT
Release Date Price: $13.08 (+3.32%)

Key Points

Positve
  • Ivanhoe Mines Ltd (IVPAF) reported a record EBITDA of $547 million for Q2 2024, driven by increased production and higher copper prices.
  • The company successfully commissioned the Phase 3 plant, boosting annualized copper production to approximately 600,000 tonnes.
  • Ivanhoe Mines Ltd (IVPAF) maintained a low cash cost of $1.52 per pound of copper produced, close to the bottom of their guidance.
  • The company has secured additional power supply from Zambia, improving operational stability and supporting future growth.
  • Ivanhoe Mines Ltd (IVPAF) announced its first dividend distribution, amounting to $98 million, with 20% payable to the DRC government.
Negative
  • The company recorded a fatality in Q2 2024 due to a breach in safety protocol, highlighting ongoing safety challenges.
  • Kipushi concentrator faced operational challenges, struggling to achieve desired concentrate grades and stable production.
  • Ivanhoe Mines Ltd (IVPAF) increased its capital guidance at Kamoa-Kakula by $300 million for Project 95, indicating higher-than-expected capital expenditures.
  • The company deferred some Phase 2 spending at Platreef, potentially delaying future production increases.
  • Ivanhoe Mines Ltd (IVPAF) continues to face power stability issues in the DRC, requiring significant investments in diesel generation and imported power solutions.
Operator

Good day, and thank you for standing by. Welcome to the Ivanhoe Mines' second quarter 2024 final results conference call. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to turn the conference over to Matt Keevil, Director of Investor Relations, Corporate Communications. Please go ahead.

Matthew Keevil
Ivanhoe Mines Ltd - Director, Investor Relations & Corporate Communications

Thank you, operator and it's my pleasure, everyone, to welcome you to the Ivanhoe Mines second quarter 2024 financial results conference call. My name is Matthew Keevil. I'm the Director of Investor Relations and Corporate Communications with Ivanhoe Mines.

On the line today, from the company, we have Founder and Executive Co-Chairman, Robert Friedland; President, Marna Cloete; Chief Financial Officer, David van Heerden; Chief Operating Officer, Mark Farren; Executive Vice President, Corporate Development and Investor Relations, Alex Pickard; and Executive Vice President-Project, Steve Amos.

We will finish today

Already have an account? Log in
Get the full story
Start 7-Day Free Trial
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot
Research Tools
All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board
Product
Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Mobile App 中文
Education
Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation
Company
About GuruFocus Career Contact Us Advertise Site Map Term of Use Privacy Policy Referral Program Partner Program
Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey
Follow Us
download GuruFocus on Apple store download GuruFocus on Google Play
Disclaimers
GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.
© 2004-2024 GuruFocus.com, LLC. All Rights Reserved.