March quarter activities report

On 23 April 2024, we announced our March quarter FY24 results to the market.

Highlights included a strong balance sheet to progress growth, continuing improvements in our operating performance, ensuring Federation remains on track for first stope ore in Q1 FY25, and exciting results from our exportation programs.

Managing Director and Chief Executive Officer, Bryan Quinn spoke about our quarter performance.

“The March quarter continued our goal of sustainably increasing our productivity as we focus on filling our mills in the future,” Bryan said.

“At Peak, ore tonnes mined were 10% higher and ore tonnes processed 13% higher. At Dargues, ore tonnes mined were also 2% higher and ore tonnes processed were on target.

“The Federation Project team continued to focus on decline development and infill drilling. These activities are the highest priority and are critical path items for first stope ore in Q1 FY25, and to enable the ramp-up in production thereafter.

“It is a significant milestone for the Project to have reamed two of the three shafts incident free, completed the Burthong road construction and sealing, and commenced many other non-critical path projects on site.

“And finally, our exploration programs produced exciting drilling results during the quarter. The results at Nymagee and Federation further demonstrate the prospectivity of our Cobar Basin exploration tenure. These results, along with additional results at Chesney and Perseverance Deeps, continue to support our vision to be a developer and operator of choice in critical base metals,” Bryan concluded.

Visit the Investor Centre to see the full report and presentation.