Metals X Ltd shares surged 5.84% during intraday trading on Monday, fueled by the release of robust quarterly operational results.
The company reported that its Bluestone Mines Tasmania joint venture, Renison Tin Operations, achieved total tin production of 2,809 tonnes of tin-in-concentrate in the June quarter, up from 2,724 tonnes in the prior quarter. Metals X's 50% share of production rose to 1,405 tonnes. Additionally, tin-in-concentrate shipments increased to 2,827 tonnes, generating imputed revenue of AU$207.4 million and imputed EBITDA of AU$125.9 million.
The company also highlighted a strong cash position of AU$374 million at quarter-end, after paying AU$28.1 million in income tax, further bolstering investor confidence.