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Group 6 Metals Limited (ASX:G6M)

ALERT: Price-sensitive ASX Announcement for G6M
Current share price for G6M : $0.025 -0.003 (-10.71%)+
Announcement
Release
31 Jul 2024 4:32PM
Price at Release
$0.028
Full Release
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Summary
Group 6 Metals Limited (ASX: G6M) reported on its quarterly activities and cash flow for the period ending 30 June 2024. The company achieved significant milestones in the Dolphin Tungsten Mine, including mining the high-grade ore from the C-Lens and setting a production record with 120kt of ore mined. The processing plant's efficiency improved with a 12% increase in average daily ore processing rate, reaching 669 tonnes per day. The company received $5.1 million from shipping 12,290 mtu of tungsten concentrate. Corporate developments include the appointment of Tony Caruso as a Non-Executive Director. The cash position as of 30 June 2024 was $0.8 million, with $8.95 million in undrawn debt facilities. Other highlights include the advancement of a renewable energy integration project and positive results from ore sorting trials, indicating potential improvements in operational efficiency and sustainability.
Key Points
  • No reportable environmental incidents and 3 LTIs recorded during the quarter
  • Production of 14,606 mtu of WO3
  • Record 120kt of ore mined for the quarter
  • 12% increase in average daily ore processing rate to 669 tonnes per day
  • Cash received from customers was $5.1 million for the quarter
  • High-grade C-Lens exposed in Dolphin Open Cut Stage 1 Pit
  • Ore sorting trials delivered encouraging results
  • PPA Agreement progressing with Climate Capital for renewable energy integration
  • Appointment of Tony Caruso as Non-Executive Director
  • APT CIF Rotterdam prices increased to US$335 – 360 per mtu
  • $0.8 million in cash and $8.95 million in undrawn debt facilities as of 30 June 2024
  • Positive developments in ore sorting and renewable energy integration
  • Engineering review identified key improvements for plant stability and performance
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.