Tietto Minerals Ltd (ASX:TIE)’s Post

March 2024 Quarterly Report: https://loom.ly/x4kLbGc ✅ Gold production of 127,471 oz in the March 2024 quarter, with FY to date gold production of 389,048 oz ✅ March quarter weighted average AISC of US$1,091/oz ✅ Strong operating performance expected to continue for the remainder of the June 2024 HY with gold production and AISC guidance unchanged at 226,000-254,000 oz at an AISC of US$1,180 to US$1,340 ✅ Average quarterly cash margin of US$934/oz of gold resulted in notional operating cashflow of US$119m in the quarter or US$373m for the nine-month period to 31 March 2024 ✅ Available cash and bullion balance of US$702m, plus US$74m of listed securities at quarter-end. Zero debt and US$300m of undrawn debt capacity available ✅ Cooperation Agreement signed with Ajlan & Bros Mining & Metals Company, the mining division of a Kingdom of Saudi Arabia based investment conglomerate company, Ajlan & Bros ✅ Takeover offer for OreCorp advanced materially during the quarter with the OreCorp Board endorsing the offer. Subsequent to quarter end, Perseus’s ownership of OreCorp advanced beyond 90%, enabling compulsory acquisition of outstanding shares to begin. Our Chairman and CEO Jeff Quartermaine will host an investor webinar at 9am AEST to discuss the March quarter results. Join here: https://loom.ly/VXxl3PY

Today, Hudbay released its Q4 and full-year 2023 results. Among the highlights are full-year consolidated copper production of 131,691 tonnes, gold production of 310,429 ounces and silver production of 3,575,234 ounces, with the Company achieving its 2023 consolidated production guidance for all metals. Hudbay achieved record quarterly and annual revenues of $602.2 million and $1,690.0 million, with robust consolidated copper production of 45,450 tonnes and record consolidated gold production of 112,776 ounces in the fourth quarter. These results were driven by sustained higher grades in Peru and Manitoba, along with contributions from the newly acquired Copper Mountain mine in British Columbia. In Peru, the mining of higher-grade material at the Pampacancha pit led to significant increases in copper (12%), gold (96%), silver (8%), and molybdenum (14%) production, compared to 2022. Moreover, the Constancia mill achieved record copper recoveries in Q4 2023. Manitoba achieved record gold production, finishing 16% higher than in 2022. In British Columbia, Hudbay released its first technical report for the Copper Mountain mine in December 2023, with Q4 2023 operations performance meeting the 2023 post-acquisition guidance range. Dedicated to sustained financial discipline in the coming year, including reducing discretionary spending with total growth capital expenditures for 2024 projected to be 23% lower than in 2023, Hudbay anticipates advancing and unlocking value from its leading organic pipeline of brownfield expansion and greenfield exploration and development opportunities. For 2024, Hudbay has also commenced its largest annual exploration program in Snow Lake, testing the newly acquired Cook Lake claims, former Rockcliff properties and near-mine exploration at Lalor.   Read the full release here: https://shorturl.at/fQR48

In the December Quarter, we increased cash, bullion, and VAT receivables (unaudited) to A$82.8 million (US$54.6 million), an 84% increase compared to the previous quarter.   We achieved higher gold production at our Abujar Gold Project of 35,553oz following record monthly gold production of 13,781oz from just 26 days of milling operations in December 2023. Mining rates increased to 508,000 tonnes of ore, up from an average of 349,000 tonnes in the previous six months (June to November 2023) due to additional equipment mobilised to Abujar.   Record monthly production at Abujar in December 2023 supports the view of the Board that Zhaojin Capital’s Offer materially undervalues Tietto and was opportunistically timed ahead of our share price being able to fully reflect improved operational performance. Our Board continues to advise shareholders to 𝗥𝗘𝗝𝗘𝗖𝗧 Zhaojin Capital's opportunistic, unsolicited, and conditional offer for shares that it does not already own.   Tietto Managing Director and CEO Matthew Wilcox said: “Strong monthly performance in December from only 26 days of milling at Abujar, enabled Tietto to achieve record gold production of 13,781 ounces and a head grade of 1.16 grams per tonne gold resulting in quarterly records across all metrics, including 35,553 oz gold production.   Mobilisation of additional large excavators enabled us to mine a record 508,000 tonnes of ore in December, up more than 45% on the monthly average of 349,000 tonnes over the prior six months (June to November 2023) of ramp up. With ore mined exceeding ore milled for the first full month in December, we are now for the first time in a position to be able to select higher grades at the mill while beginning to stockpile lower grade ore.   Increasing familiarity with mining the orebody has also improved explosive charge sizing and placement in late 2023 which has significantly reduced mining dilution and optimised ore fragmentation.   Tietto was able to achieve AISC guidance of US$1311/oz during the half despite advancing the tailings dam life of mine footprint earthworks and lining ahead of schedule, a mill reline originally forecast for 2024, with lower processed grades than forecast. This is a testament to the hard work and skill of the operations team on the Abujar site.   Higher production in December as we continue to resolve mining and processing bottlenecks enabled us to end the quarter with A$82.8M (unaudited) of cash, bullion and VAT receivable following further debt repayments of A$10.2M. We are confident of continuing to generate strong cashflow as we achieve full production at Abujar in H1 2024 following substantial and continuing improvements across mining, milling and production in Q4 2023.”   Read the full Quarterly Activities Report here: bit.ly/48Q8uB7 #TIE #Tietto #Gold #WestAfrica #ASX #ASXNews #quarterlyreport #quarterlyresults

Metals & Mining Marvel: Adani Enterprises Ltd's Financial Journey Unveiled. Adani Enterprises Ltd Financial Performance: Revenue: Adani Enterprises has seen significant revenue growth in recent years. From FY2019 to FY2022, revenue jumped from ₹40,379 crore to ₹136,978 crore, representing a growth of over 238%. However, the first half of FY2023 witnessed a decline compared to the same period in FY2022, with revenue at ₹479,557.8 million compared to ₹790,194.8 million. Profit: From FY2019 to FY2022, PAT increased from ₹2,541 crore to ₹10,025 crore, representing a growth of over 292%. However, similar to revenue, the first half of FY2023 saw a decline in PAT to ₹9,017.5 million compared to ₹9,304 million in H1 FY2022. Debt: Adani Enterprises' debt has also risen significantly in recent years. Total debt increased from ₹32,201 crore in FY2019 to ₹3,21,020 crore in FY2022, a staggering growth of over 900%. Debt levels in H1 FY2023 remained high at ₹2,80,263 crore. 2023-24 Trends: Revenue: While overall revenue for FY2023 is yet to be reported, the first half results indicate a potential slowdown compared to FY2022. However, individual segments like Ports & Terminals and Data Centers continue to show strong growth. Profit: Similar to revenue, PAT in H1 FY2023 declined compared to the same period in FY2022. However, improved performance in specific segments like Ports & Terminals could potentially counterbalance this decline in the latter half of the fiscal year. Debt: No significant change in debt levels is expected in the near future, as the company continues to invest heavily in expansion projects. Important Data & Figures: FY2023 H1 Revenue: ₹479,557.8 million FY2023 H1 PAT: ₹9,017.5 million FY2022 Total Revenue: ₹136,978 crore FY2022 PAT: ₹10,025 crore FY2022 Debt: ₹3,21,020 crore Debt-to-equity ratio: (as of March 31, 2023) 2.11 Metals & Mining Sector Analysis: To understand Adani Enterprises' performance in the Metals & Mining sector, we need to look at AMPL's financials and activities: Data and Facts: Revenue: AMPL contributed ₹11,230 Crore to Adani Enterprises' total revenue in FY23, reflecting a 112% increase year-on-year. (Source: Adani Enterprises FY23 Annual Report) EBIDTA: AMPL's EBIDTA stood at ₹2,180 Crore, representing a 218% increase from the previous year. (Source: Adani Enterprises FY23 Annual Report) Key Services: Logistics and infrastructure development for mining projects Exploratory drilling and resource evaluation Regulatory and compliance support Mine closure and rehabilitation Projects: AMPL is currently involved in several key mining projects in India, such as the Carmichael coal mine in Australia and the Talabira coal mine in Odisha. #FinancialAnalysis #AdaniEnterprises #MetalsAndMining #CompanyPerformance #SectorAnalysis With deep appreciation, I thank Dr. Amrita Tatia Karnawat for their invaluable guidance and mentorship.

Indonesia's Delta Dunia eyes more deals as it completes US coal buy: Reuters Indonesia's Delta Dunia Group plans to grow through acquisitions, backed by strong support from its lenders, after it completed the $122.4 million purchase of Atlantic Carbon Group on Monday, director Iwan Salim said. The Jakarta-listed company has been diversifying beyond its home base of Indonesia where it runs its BUMA coal mining services business. It bought Australia's Downer coal mining contractor business for A$139 million ($92.63 million) in 2021 and has now expanded into U.S. markets and mining anthracite coal, used to make steel. Its latest deal has secured ownership of four producing anthracite mines in Pennsylvania, which will help Delta Dunia to lower its revenue from thermal coal to below 50% of its total revenue by 2028. For the full story: https://lnkd.in/gk6MKhRp

Yesterday, Hudbay released our Q2 2024 results, reaffirming the company’s full-year 2024 consolidated production guidance and improving 2024 consolidated cash cost guidance. Among the highlights, we achieved consolidated copper production of 28,578 tonnes and gold production of 58,614 ounces, which aligns with quarterly production cadence expectations for 2024. - Through accelerated deleveraging efforts and continued cash flow generation, net debt was significantly reduced to $631.8 million in the second quarter of 2024, a decrease of $405.9 million over the first half of 2024. - In Peru, our operations continue to benefit from strong mill throughput with the Pampacancha stripping program progressing as planned to unlock higher grades in Q4 2024. - In Manitoba, the New Britannia mill continued to exceed expectations, operating well above nameplate capacity and budgeted throughput levels. - In British Columbia, the Copper Mountain mine ongoing stabilization initiatives are well underway, focused on ramping up the mining fleet, accelerating stripping activities, and enhancing mill reliability. Hudbay’s diversified operating base uniquely positions us to benefit from higher copper and gold prices while continuing to generate attractive free cash flow. This has led to robust EBITDA generation over the past 12 months, enabling the company to significantly accelerate our deleveraging efforts and transform our balance sheet. We are now even better positioned to continue to advance our many growth initiatives to unlock significant upside potential in our pipeline and further enhance our copper and gold exposure. Read the full release: https://lnkd.in/gSHM7ypg

Navoi Mining and Metallurgical Company (NMMC), operator of the world-renowned Muruntau gold mine—one of the largest gold mines globally—has successfully made its debut in the global debt market, with the successful pricing of its inaugural $1bn dual-tranche Notes offering. The transaction includes $500mn in 4-year notes at 6.70% and $500mn in 7-year notes at 6.95%, marking a landmark achievement for NMMC and Uzbekistan’s corporate finance landscape. Eugene Antonov, NMMC’s First Deputy CEO and Chief Transformation Officer, commented: “This Notes issue is a unique transaction, reflecting the strong demand for NMMC’s strategic growth initiatives. We are focused on improving production, exploring new areas, and implementing digitalisation to become a global mining leader.” This Notes offering is the largest corporate issuance from Uzbekistan since the sovereign debut in 2019, with an impressive orderbook that peaked at $5.5 bn, over 5.5 times oversubscribed. It is also the first corporate issuance in Uzbekistan’s global debt markets since November 2021 and one of the largest corporate deals in the CIS since July 2020. Historic deal! Congratulations to NMMC and all parties involved on the successful placement! #uzbekistan #nmmc #eurobond #fixedincome #frontiermarkets #investments #development

𝗩𝗮𝘂𝗹𝘁 𝗠𝗶𝗻𝗲𝗿𝗮𝗹𝘀 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟮𝟬𝟮𝟰 𝗤𝘂𝗮𝗿𝘁𝗲𝗿𝗹𝘆 𝗔𝗰𝘁𝗶𝘃𝗶𝘁𝗶𝗲𝘀 𝗥𝗲𝗽𝗼𝗿𝘁    We are pleased to share our September 2024 Quarterly Activities Report, highlighting a strong quarter across production, financials and strategic development.   This quarter, we achieved group production of 97,493 ounces of gold, with sales totalling 102,529 ounces at an average realised price of A$3,162 per ounce. Our All-In Sustaining Cost was A$2,231 per ounce, reflecting our focus on operational efficiency and value creation. Supported by these results, our cash and bullion position rose by $69.7 million to A$523.3 million, and we streamlined our capital structure by repaying the $92.9 million finance facility, leaving Vault debt-free.   Operationally, our Mount Monger site delivered 19,583 ounces of gold with a ramp-up in open pit mining progressing well, ensuring higher ore tonnage and grades in the coming years. In the Deflector Region, record mill throughput led to the production of 30,591 ounces of gold and 188 tonnes of copper, while a significant high-grade discovery south-west of the Deflector South-West lode strengthens our outlook for further exploration success.   At Leonora, Vault produced 47,319 ounces of gold, supported by advanced engineering studies for a plant expansion targeted for investment approval in Q3 FY25. We also initiated a substantial exploration program at King of the Hills, targeting high-grade extensions and long-term growth opportunities.   Financially, we have simplified our capital structure through the successful sale of our treasury shares, yielding $136.8 million. Now debt free and with A$523 million cash and bullion, Vault is focused on delivering FY25 guidance for gold sales of 390,000 - 430,000 ounces at an AISC of A$2,250 - A$2,450 per ounce and advancing the organic growth opportunities in our portfolio.   We encourage all shareholders and stakeholders to review our full quarterly report to gain further insights into our progress and growth potential across our portfolio. Together, we are building a leading, diversified mid-tier gold producer, ready to seize new opportunities and deliver sustainable returns. Read the full Quarterly Activities Report here: https://bit.ly/48oKLsa   #VaultMinerals #VAU #ASX #GoldMining #Gold #QuarterlyReport

This is a weekly 4 year chart of copper prices.Copper started a steep rise in April and completing new highs of $5.20 on May 20. I have little doubt that this is just early days in this new bull market. Copper is up about 38% from the 2023 lows. Today's strong copper market comes as no surprise and I went into much detail on this in my Dr. Copper Shortage report in December 2023. It is a good time to add another advanced copper junior to our list and this one is under valued compared to it's peers. Giant Mining Corp. - - - CSE:BFG - - - OTC:BFGFF total shares outstanding 23.45 million - - Fully Diluted 44 million The companies asset is 100% of the 3,404 hectare Majuba Hill porphyry copper deposit, a copper, silver and gold project located in Pershing county, Nevada, 251 km (156 miles) northeast of Reno. Access by U.S. Highway 80 Interstate/Freeway from Reno. Gravel road access maintained by Pershing County. There is a primary electric power line with substation 22 miles from Majuba. The project contains historic underground mines that produced 2.8 million pounds of copper. BFG is well financed with just over $4.4 million raised in recent financing s. The drill phase is coming soon and based on past results we know with confidence that this drill round will provide some excellent numbers. The market has changed drastically with majors going after copper projects everywhere including early stage. Copper prices have just come off record highs and I am quite certain they will continue much higher. Junior mining stocks have been edging higher and this is only very early stages of their next bull market and it is the same for copper prices. They have only just started. The stock at $0.85 may look like it is expensive but there are only 23.45 million shares out so the market valuation is only about $20 million. I compare with 7 comparable copper discoveries in my full report. The average value of the other 7 companies is $67.6 million. If Giant Mining receives a valuation on average to these it would be $2.88 per share. I am long the stock #copper #mining #Giant #BFG #EVs