Freehill Mining's strategic moves in Chile

Freehill Mining (ASX:FHS) has outlined its strategic achievements and future ambitions at the 2024 Annual General Meeting. The company has successfully recapitalized and resumed trading on the ASX, while making significant strides in the Chilean market by transitioning to a supplier of premium waste material products for local cement and construction companies.

Freehill Mining's future outlook and goals

Freehill Mining (ASX:FHS) has made notable progress in the past year by becoming a trusted supplier in the Chilean market. The company's sales have seen substantial growth, driven by strong market demand and strategic contracts. Despite facing operational challenges, Freehill received regulatory approval to resume operations and has maintained strong customer support. The board remains committed to restarting magnetite mining operations and is exploring new opportunities in future-facing commodities like copper. Freehill aims to establish cash-generating operations with minimal capital expenditure, leveraging its strategic position in Chile to explore unique project opportunities and maximize shareholder value.

Executive insights from Freehill Mining

Over the past year, Freehill has focused on recapitalizing and resuming trading on the ASX after delays at its Yerbas Buenas (YB) magnetite mine in Chile. The transition to supplying premium waste material products was facilitated by regulatory changes in Chile. We have seen significant growth in sales with an 84% increase in quarterly sales and a 176% increase in cash receipts. Despite challenges, including a tragic accident at the YB site, we are committed to restarting magnetite mining operations and continue to explore new opportunities.