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Metals X reported on 28 October that the Renison operation produced 2,663 tonnes of tin contained in concentrate during the September quarter, compared with 2,809 tonnes in the June quarter. Metals X holds a 50% participating interest, and its reported share of production was 1,332 tonnes. The full operation’s output should not be presented as wholly attributable to Metals X.
Renison shipped 2,603 tonnes of tin in concentrate, compared with 2,827 tonnes in the preceding quarter. Metals X received 50.57% of the shipped tonnes during the period, reflecting a different allocation measure from its 50% project interest. Production and shipment quantities also represent different points in the operating and sales cycle.
Metals X’s cash and cash equivalents rose by A$60.87 million to A$434.87 million at quarter-end. The report also presents imputed financial measures based on an assumption that all quarterly tin production was sold and paid for by the end of the period. Such modelled measures should not be confused with actual company cash receipts.
Completion of the Rentails front-end engineering design is now expected in the first half of 2027, rather than late 2026, because of resource constraints affecting the concentrator package. A final investment decision will follow the study and environmental approvals, both expected in that half-year. The revised timetable remains a company expectation, with the investment decision still outstanding.