Another quarterly very light on details.No new update regarding...

Another quarterly very light on details.

No new update regarding July production. Are they processing ore currently?

In the quarterly they say:

“The process plant achieved 70% runtime, processing over 10,000t of low to medium-grade ore at an average grade of 0.3% WO3, producing approximately 10 tonnes of saleable tungsten concentrate in late June/ early July 2023. Preliminary site assays indicate that the concentrate had achieved an average grade of 55% WO3 and a maximum of 68% WO3. The concentrate was loaded into a container in mid-July 2023 and dispatched for the Company’s first concentrate sales, marking another significant milestone for Group 6 Metals”

On the 19th of July they said

“The shipment of approximately thirteen (13) tonnes of tungsten concentrate, with an average grade of 69% WO3, was loaded at the Port of Grassy, King Island.”

This raises a few questions.

Was it 10t or 13t that was shipped?

How do you get a grade of 69% from an average grade of 55%

What ore are they currently processing? Both the 31st and 19th state they have processed over 10,000t of ore. Surely they are processing ore right now? Why was there no update to the number of tonnes they have now processed and how much concentrate they produced in the second half of July?

Where is the second shipment? Again are they processing ore??

We know blasting and ROM ore has not started flowing yet and is still a week or two off. They are either not processing ore right now or they didn't bother to comment on it. Either are atrocious moves by management. I have to imagine they are processing ore and just didn't comment on it which would indicate the news wasn’t good.

I thought it was strange that they would ship out 13t of concentrate when a full container is 20t. Why wouldn’t they wait a week for a full container to save on costs? Is it because they are waiting for new ore? I thought they had months worth of previous ore stock piled ready to feed the plant. If they are not currently processing that is very poor planning.

Either way. An operational spend of $14.579m with a resulting $0.0m of revenue for the quarter.

Raising funds shortly.