Key highlights of the quarterly report

Ten Sixty Four Limited (ASX: $X64) has released its Quarterly Activities Report for the period ending 30 September 2023, as required by ASX Listing Rule 5.1. The report includes key highlights such as a cash balance of US$10M, Co-O Mine's unhedged gold production of 17,749 OZ, and the Drummond Basin exploration update.

Executive commentary on operational and financial performance

The Company's Co-O Mine reported a decrease in gold production due to lower tonnes mined, while the AISC for the quarter improved to US$1,647 per ounce. The Drummond Basin exploration project experienced a reduction in investment due to a strategic shift within the Company and the appointment of Administrators. The Company's cash balance at the end of the quarter was US$10.0 million, excluding cash and gold inventory held by the PMHI Group of companies.

Quarterly report summary and outlook

Ten Sixty Four's Co-O Mine faced challenges in gold production but managed to improve AISC. The Drummond Basin exploration project saw reduced investment and operational activities due to a strategic shift and appointment of Administrators. The Company's cash balance remained stable at US$10.0 million, excluding cash and gold inventory held by the PMHI Group of companies. Looking ahead, the Company's focus may involve addressing the challenges in gold production and reassessing the strategic direction for the Drummond Basin exploration project.