| | | | | | | Six months ended 30 June | US$thousand | | 2025 | | 2024 | | | | | | Loss after tax | | (76,686) | | (102,169) | Income tax (benefit)/expense | | (2,514) | | 7,066 | Net finance costs | | 51,830 | | 31,799 | Net change in fair value of financial instruments | | 57,298 | | 109,323 | Operating profit | | 29,928 | | 46,019 | Depreciation and amortisation | | 37,882 | | 38,365 | Organisational restructuring expenses | | — | | 988 | IPO and transaction costs1 | | 2,717 | | 2,615 | Other significant expenses2 | | 10,693 | | 2,582 | Adjusted EBITDA | | 81,220 | | 90,569 |
1 related to the ASX IPO, acquisition of the CSA Copper Mine, refinancing and other investment decisions 2 includes discretionary bonuses and share based payments that would be due if the Scheme is implemented
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