Grange Resources Limited ( (AU:GRR) ) has provided an announcement.
Grange Resources Limited has released its Annual Mineral Resource and Ore Reserve Statement for December 2024, indicating that its mineral resources and ore reserves at the Savage River Operation in Tasmania remain largely consistent with the previous year. The company reported a slight decrease in mineral resources by 0.1% and a more significant 8% reduction in ore reserves due to mining depletion and updates to mine designs and production schedules. Notably, underground ore reserves in the North Pit reduced by 3.8 million tonnes, but the grade improved to 45.9% DTR. The completion of 3.0 kilometers of underground development in 2024 has enhanced geological and geotechnical confidence, potentially de-risking future production rates and project cost estimates.
More about Grange Resources Limited
Grange Resources Limited is Australia’s most experienced magnetite producer, focusing on its Savage River Operation in Tasmania. The company specializes in the production of magnetite, a type of iron ore, and is a significant player in the mining industry.
YTD Price Performance: -33.82%
Average Trading Volume: 19,560
Technical Sentiment Signal: Buy
Current Market Cap: $153.2M
Find detailed analytics on GRR stock on TipRanks’ Stock Analysis page.