Metro Mining Limited (AU:MMI) has released an update.
Metro Mining Limited reports a strong first half of 2024, with a record 1.5 million wet metric tonnes shipped, an 18% increase year-over-year, and a 30% revenue boost compared to the previous year. Despite a net operating loss due to seasonal shutdowns and one-off costs, the company completed a successful $45 million funding round, allowing for early debt repayment and targeting a $15/WMT EBITDA site margin for the year-end. With all expansion components now operational and demand for their product high in a robust pricing environment, Metro anticipates further debt reduction in the second half of the year.
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