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An update from Group 6 Metals Limited ( (AU:G6M) ) is now available.
Group 6 Metals has signed a binding underground mining contract with HMR Drilling Services to deliver development and production services for the Dolphin Tungsten Project on King Island, securing a long‑term framework for underground operations. The three‑year deal, valued at about $110 million to $120 million with options to extend, locks in fixed rates to mid‑2027, standard termination rights and robust payment security, underpinning a measured ramp‑up of underground output while existing ore stockpiles continue to be processed.
The appointment of experienced contractor HMR, which expects to employ up to 95 people at peak activity, is described by the company as a major de‑risking step that strengthens execution capability and supports safe, efficient mine development. With critical long‑lead capital items already ordered or on site, the contract is expected to accelerate the transition to sustained underground production, bolstering Group 6 Metals’ operational performance and long‑term value creation strategy for shareholders.
More about Group 6 Metals Limited
Group 6 Metals Limited is an Australian resources company focused on developing and operating the Dolphin Tungsten Mine on King Island, Tasmania. The company aims to supply tungsten, a critical industrial metal, through underground mining and processing operations, positioning itself as a significant player in the tungsten market.
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$25.1M
See more data about G6M stock on TipRanks’ Stock Analysis page.