Metals X Limited (ASX:MLX)

ALERT: Price-sensitive ASX Announcement for MLX

Current share price for MLX : $1.300 0.06 (4.84%)⁺

Announcement

Quarterly Activities Report

Release

28 Jan 2026 12:20PM

Price at Release

$1.240

Full Release

Summary

The quarterly report for Metals X Limited for the period ending 31 December 2025 highlights significant achievements in tin production at the Renison Tin Operation, with production reaching near-record levels. Metals X's share of the production was 1,660 tonnes. The company managed to reduce C1 cash production costs markedly, resulting in improved financial performance, with EBITDA more than doubling from the previous quarter. Metals X also increased its cash and cash equivalents to A$293.6 million, which supports its strategic initiatives, including sustaining investments in Elementos and First Tin. The company continues to focus on safety, with efforts to improve site safety performance, and is actively managing its capital through share buy-backs and maintaining liquidity to support growth opportunities.

Key Points

Renison achieved near record tin production with 3,319 tonnes of tin-in-concentrate.
Metals X's share of production was 1,660 tonnes of tin-in-concentrate.
C1 cash production costs reduced significantly to A$16,598/t Sn.
Imputed EBITDA for the quarter increased to A$112.5 million.
The company participated in equity raisings to maintain interests in Elementos Limited and First Tin Plc.
The company holds significant investments in NICO Resources and Tanami Gold.
Closing cash and cash equivalents increased to A$293.6 million.
The Bluestone Mines Tasmania JV Renison Tin Operation reported two recordable injuries during the quarter.
Metals X maintains a strong cash balance to pursue growth strategies.
Metals X announced an extension to its on-market share buy-back program.

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.