Rand Mining Ltd (ASX:RND) Quarterly Report Highlights Operational Achievements
Gold Production and Processing
Rand Mining Ltd (ASX:RND) and its joint venture partner Tribune processed 49,715 tonnes of ore during the December 2024 quarter, achieving an average grade of 3.77 g/t at the Mungari processing plant. Rand’s share of the processed ore amounted to 12,429 tonnes, leading to a total production of 5,369 ounces of gold, with Rand’s share equating to 1,342 ounces.
Exploration Activities
Exploration efforts during the quarter included two significant drill holes completed at Seven Mile Hill, totalling 651 metres. The drilling focused on understanding the geology and identifying deeper high-grade gold minerals. Positive results were recorded from infill reverse circulation drilling at the Hornet deposit, which will contribute to future open-pit mining plans. A total of 4,158 metres of drilling were carried out in preparation for this phase.
Financial Performance
The company reported a substantial increase in cash on hand, rising to $4.61 million from $3.99 million as of the previous quarter. Receipts from customers reached $16.68 million, significantly higher than the prior quarter, with overall production up by $786,000. Notably, the group recorded a net cash inflow from operating activities of $7.83 million for the December quarter.
Future Outlook and Corporate Actions
Rand Mining has extended its on-market share buy-back programme to 9 January 2026. This strategic move reflects the company’s commitment to enhancing shareholder value. Furthermore, exploration expenses decreased slightly during the quarter, demonstrating effective cost management.
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.
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