Metro Mining, Quarterly Activities Report - June 2018 | Finance News Network

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Metro Mining, Quarterly Activities Report - June 2018

Highlights

- The Bauxite Hills Mine was successfully commissioned during the June quarter.

- Bauxite sales totalled 399kt generating A$25.2m of revenue.

- The Bauxite Hills Mine was profitable in the month of June.

- Six Ocean Going Vessels (“OGVs”) were loaded and departed the Port of Skardon with a seventh partially loaded at financial year-end.

- By the end of the quarter, the Mine was achieving daily production required for the 2Mtpa targeted production.

- Metro remains on track to meet its production and shipping guidance of 1.980M – 2.075M Wet Metric Tonnes (WMT) for 2018 Calendar Year.

- Metro’s available cash on hand and trade receivables as at 30 June 2018 was A$30.6M.


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