29Metals (ASX:29M) said that its group ore reserves as of Dec. 31, 2024, were unchanged year-over-year, but its group mineral reserves fell over the same period, according to a Wednesday Australian bourse filing.
The firm's group ore reserves came in at 35.7 million tonnes, unchanged from the prior year after depletion from production. Meanwhile, its group mineral resources tonnes totalling 122.4 million tonnes, fell from 128.3 million tonnes in the previous year, primarily due to depletion from production and increases to net smelter return cut-off
values at the Golden Grove project in Western Australia.
Contained metal in the group ore reserves came in at 587,000 tonnes of copper, 819,000 tonnes of zinc, 366 thousand ounces of gold, 21,9 million ounces of silver, and 42,000 tonnes of lead.
Contained metal in the group mineral resources were estimated at 2.2 million tonnes of copper, 2.3 million tonnes of zinc, 1.2 million ounces of gold, 74.8 million ounces of silver, 140,000 tonnes of lead, and 25,000 tonnes of cobalt.
The firm's shares rose 3% in recent trading on Wednesday.
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