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Group 6 Metals Limited ( (AU:G6M) ) just unveiled an announcement.
Group 6 Metals reported continued ramp-up at its Dolphin Tungsten Mine, producing 24,146 MTUs of WO3 in the March quarter as processing volumes rose to 72,351 tonnes of ore. The company has now fully ceased open pit mining and is transitioning operations to underground, supported by stockpiles of 362,000 tonnes of ore grading 0.30% WO3 and a strong safety record with 365 days LTI-free achieved before one incident late in the quarter.
Financially, the miner generated WO3 sales of 24,555 MTUs for $32.2 million, delivering $13.2 million in cash from operations and net cash inflows of $10.9 million, ending the period with $14.4 million in cash and modest near-term debt repayments. The update comes against a backdrop of sharply higher ammonium paratungstate prices driven by robust demand and Chinese export and mining restrictions, which enhance the strategic value of Group 6 Metals as one of the few dependable Western tungsten suppliers.
More about Group 6 Metals Limited
Group 6 Metals Limited is an Australian resources company focused on producing tungsten concentrate from the Dolphin Tungsten Mine on King Island, Tasmania. The company operates in the critical minerals sector, supplying tungsten for defence, aerospace, electronics and electrification markets, positioning itself as a reliable Western producer amid tightening Chinese supply.
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$25.1M
Learn more about G6M stock on TipRanks’ Stock Analysis page.