Metals X quarterly activities report

Metals X (ASX: MLX) reported its quarterly activities for the period ending 30 September 2024. The company achieved record tin production at its Renison Tin Operation. Operational improvements contributed to this success. The quarter also saw strategic investments and project advancements, enhancing revenue and cash flow.

Metals X quarterly achievements and future outlook

Metals X Limited achieved record quarterly tin production, with a production increase of 15.70% to 2,899 tonnes of tin-in-concentrate. The company reported improved safety measures and operational advancements. Financially, Metals X saw a 22.80% rise in EBITDA to $71.10 million and an increase in cash reserves to $197.54 million. Strategic actions included acquiring a 23.07% stake in First Tin Plc and progressing with the Rentails project. Metals X remains focused on strategic growth, maintaining strong cash management, and exploring acquisition opportunities to support future developments in the tin mining sector.

Executive insights on Metals X performance

The quarter marked the highest tin production on record, contributing to increased revenue and cash flow. We continued strategic investments and capital projects, including acquiring shares in First Tin Plc and advancing the Rentails project.