Tribune Resources Ltd (ASX:TBR) Quarterly Report Released
Gold Production and Processing Highlights
Tribune Resources Ltd (ASX:TBR) reported substantial gold production for the December 2024 quarter. The company, in collaboration with Rand Mining, processed 49,715 tonnes of ore from the East Kundana Joint Venture (EKJV) operations, achieving a head grade of 3.77 g/t. The output resulted in a total of 5,369 ounces of gold produced for the quarter. Tribune’s share amounted to 4,027 ounces.
Ore Stockpiles and Mine Development
As of the quarter’s end, Tribune held entitlement to 68,446 tonnes of ore grading 1.31 g/t, containing 2,880 ounces of gold across various stockpiles. Significant developments were reported from the Raleigh Underground and the Rubicon-Hornet-Pegasus underground mines, with extensive lateral and vertical development work accomplished. Tribune’s mine production entitlement reached 42,557 tonnes at a grade of 3.4 g/t, yielding 4,611 ounces, an increase over the previous quarter.
Exploration Activities
During the quarter, two drill holes were completed at Seven Mile Hill to further investigate gold mineralisation. The Hornet deposit underwent a successful reverse circulation (RC) drilling campaign of 4,158 metres, indicating high-grade mineral zones that will contribute to a forthcoming Mineral Resource update.
Financial Overview
Tribune recorded cash and cash equivalents of $12.328 million at the end of December 2024, demonstrating an uptick from $12.031 million in September. The company’s operating cash inflow for the quarter was $19.97 million, substantially higher than previous performance. Revenue receipts from customers increased by $21.054 million, reflecting higher gold sales.
Share Buy-Back Notice
Tribune informed shareholders that a buyback program was in operation; however, no shares have been repurchased during this quarter. The current buyback is scheduled to expire on 20 February 2025, unless extended.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.