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Metals X Provides Quarterly Activities Report

25 Jan 2017  |  09:18:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Quarterly Activities Report

Metals X Provides quarterly activities report. Copper production for the quarter was 7,909t of copper contained in concentrates, equivalent to an annualised production rate of over 31,000t of contained copper. Operating costs continued to improve with all-in-costs of $6,272/t Cu (A$2.84/lb Cu). The average LME copper price for the quarter was $7,044/t Cu ($3.19/lb Cu) resulting in an imputed net cashflow of $7.2m and an EBITDA of $10.1m for the operation. Operating costs for the quarter were slightly higher than the previous quarter (8.5%) which is within expected operating and timing variability in consideration of the reduction in C1 cost of 37% in the September quarter. Balance sheet with closing cash and working capital at the end of the quarter of $112m plus investments of $15.3m.

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