September marked the first full year of gold production for the company, with 180,361 ounces produced at costs of $A999/oz for the year.

The 12 month performance beat the 150,000oz guidance provided on acquisition of Alcer Corporation’s Western Australian gold assets last year by 20.2%, with costs edging slightly below the $1000/oz forecast.

Gold metal produced for last three months came in at 42,293oz, up 10% on the previous quarter, beating the 35,000oz guidance by 20.8%.

A total 207,385 tonnes was mined at 5.96 grams per tonne, with 394,252t processed at 3.46gpt.

Higher head grades allowed a quarterly record for tin production at Renison, which mined 173,332t at 1.56% to produce 1831t tin.

Total cash and working capital at the end of the quarter came in at $133.3 million, with the gold division lifting earnings before interest, tax, depreciation and amortisation 4% to $22.2 million.

EBITDA for the tin sector came in 11% lower at $4.3 million due to lower commodity prices.

Total cash cost of sales for the gold division were 4% higher than the previous quarter at $878/oz, while the higher tin output dropped that division’s costs 3.2% to $18,910/t.

Taking stock of other developments over the quarter, Metals X closed the Chalice underground mine in WA, as previously flagged, while gold exploration continued in a number of areas.

Scaled-down development work also continued on the large undeveloped Wingellina nickel project in WA’s remote Central Musgrave region.

Metals X shares were last trading steady at 21.5c.