Ten Sixty Four Limited (ASX:X64) Provides Tigerway Decline Update
Operations Update
Ten Sixty Four Limited and its Philippine affiliate Philsaga Mining Corporation have progressed the Tigerway decline project, reaching a total of 4,217 meters by December 31, 2024. Development efforts have shifted to Levels 11 through 14 to improve ore transportation and ventilation. Production at the Co-O Mine declined due to ore transportation challenges and a temporary shutdown following a regional earthquake. The remaining 482 meters of the Tigerway Decline are scheduled to resume in late June 2025, with completion projected for December 2025.
Financial Performance
Expenditures on the main access decline reached US$43.4 million by the end of December 2024, below the initial budget of US$54 million. An additional US$6.6 million was invested in equipment, ventilation, and integration linkage drives.
Motley Fool contributor Lianne Eastty 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.