en.Wedoany.com Reported - Group 6 Metals achieved a record processing quarter at the Dolphin Tungsten Mine on King Island, Tasmania, Australia, with underground mining now underway as the company prepares to feed high-grade ore into the processing plant.

In the June quarter, the company processed 77,953 tons of ore, setting a new record, up from 72,351 tons in the previous quarter, producing 21,297 metric ton units (MTU) of tungsten trioxide (WO3). The production figures reflect that the material used during the quarter came from lower-grade stockpiles, but the commencement of underground mining at the end of the quarter marks a new phase for the Dolphin mine.

Executive Chairman Kevin Pallas stated that despite the planned reliance on low-grade stockpiles during the quarter, operations continued to make progress. "In the June 2026 quarter, Group 6 Metals continued to build operational and financial momentum at the Dolphin Tungsten Mine," Pallas said. "The company achieved another quarterly record for plant throughput... from relatively low-grade stockpile ore, while we transitioned to underground mining."

The company ended the quarter with approximately 295,000 tons of stockpiled ore, with an average grade of 0.26% WO3, containing about 77,000 MTU of tungsten. Group 6 expects production to further strengthen once underground ore begins to be blended with remaining stockpiles by the end of the September quarter. "We have no doubt that when we start blending high-grade underground ore, at around 1% WO3 grade, with the remaining stockpile ore towards the end of the September 2026 quarter, the plant feed grade will increase significantly," Pallas said. "The combination of these two factors is expected to lead to improved plant performance, resulting in another breakthrough in WO3 concentrate production." Alongside operational improvements, the company's financial performance also saw a significant boost. Group 6 sold 25,514 MTU of WO3 in the quarter, achieving sales revenue of A$69.1 million; customer cash receipts increased by 142% quarter-on-quarter to A$61 million. Operating activities generated A$40.5 million in cash, with a net cash inflow of A$35 million. The company ended the quarter with a cash balance of A$49.5 million, plus A$2.5 million in undrawn debt financing, enabling it to continue underground development while advancing its relisting on the Australian Securities Exchange. During the quarter, Group 6 also signed a three-year mining contract with HMR Drilling Services to advance the transition to underground operations, and strengthened long-term customer demand by extending a tungsten concentrate offtake agreement.