29Metals reports strong performance in June 2024 quarter

29Metals Limited (ASX: $29M) has reported its June 2024 quarterly results, showcasing record copper and zinc production at Golden Grove. The company's safety and sustainability initiatives have led to environmental footprint reductions, while stakeholder engagement has progressed key regulatory approvals for Capricorn Copper. The quarter also saw the appointment of James Palmer as the Chief Executive Officer.

Executive Commentary on June 2024 Quarterly Report

It's clear from my first 90 days that we have a team committed to realizing the enormous potential embedded in the 29Metals portfolio, with the June quarter providing a snapshot of the opportunity ahead for the Company. Mining at Golden Grove's highest-grade ore source, Xantho Extended, is ramping up. Enabled by the significant investment made into mine debottlenecking and surface infrastructure upgrades since the 29Metals IPO. The value in the ground at Capricorn Copper was highlighted by exceptional high-grade copper drill results received post quarter end, with reduction of the water levels on site the first step towards unlocking that value and progressing the site towards a successful and sustainable restart of operations.

Summary of June 2024 Quarterly Report

29Metals' June 2024 quarterly report demonstrates a strong performance, with record copper and zinc production at Golden Grove. The company's safety and sustainability initiatives have led to environmental footprint reductions, while stakeholder engagement has progressed key regulatory approvals for Capricorn Copper. The appointment of James Palmer as the Chief Executive Officer signifies a strategic move for the company. Looking ahead, the company aims to continue its growth capital guidance range, maintain its production and operating cost guidance ranges, and strengthen its balance sheet. The outlook remains positive with ongoing focus on cost reduction, production efficiency programs, and completion of growth projects.