Metals X Limited Stock Market Press Releases and Company Profile
Quarterly Activities Report
Quarterly Activities Report

Perth, Jan 24, 2014 AEST (ABN Newswire) - It seems old dogs can teach the new dogs a few tricks!! Veteran miners Peter Newton and Peter Cook ("Talkie and Cookie") who made have made their backers a fortune over the years in gold look set to do it again as their diversified miner released its first quarter as a gold producer. Whilst most Australian gold miners are struggling to make profit and have decimated their backers with tumbling share prices, Metals X (googlechartASX:MLX) has nearly doubled its share price over the past 6 months. There has been no 'rant and rave' no big undelivered promises, in fact all we have heard from Cook following the acquisition of the Australian gold assets of Alacer Gold has been "I think we've brought well. Lets see what we can do when we give these assets some love".

Metals X has stunned with its first quarter back in gold with an output of 51,287oz of gold produced with a reported total cash cost of sales of $817/oz. Metals X classifies itself as a diversified miner, it's also Australia's largest Tin Producer and has a large portfolio of development and growth assets across base and precious metals. It carries no debt and has reported cash and working capital of $50m. Find its quarterly report attached in link below:

http://media.abnnewswire.net/media/en/docs/ASX-MLX-665012.pdf


About Metals X Limited

Metals X Limited (ASX:MLX)Metals X Limited (ASX:MLX) (OTCMKTS:MTXXY) is a Diversified Resource Company. Australia's largest tin and one of Australia's top 10 gold producers. Considerable cashflow is generated from its two operating gold mines at South Kalgoorlie and Higginsville in WA and from its 50% owned high grade tin mine in Tasmania which is also one of the largest hard rock tin mines in the world. The company boasts resources of over 14 Moz of gold, 140,000 tonnes of contained tin and over 2 million tonnes of contained nickel. The company also has a considerable portfolio of growth assets, including one production ready and one development ready gold project and one of the world's largest undeveloped nickel and cobalt projects.

The Central Murchison Gold Project consists of a fully refurbished 2.0Mtpa gold plant and resource containing over 8.6 Mozs of gold in a combination of high grade underground mines and lower grade open pits, expected to be in production in early 2015. The Company's Rover 1 iron-oxide-copper-gold discovery contains 1.2Moz of gold equivalence which is targeted for production in 2016.

The 100% owned world class Wingellina Nickel and Cobalt Project hosts a global resource of over 180Mt at 1% nickel that includes 167Mt as a probable reserve.  Metals X has joined with one of the World's largest companies, Samsung C and T, to work together to finance and develop the Wingellina project.

abnnewswire.com 


Contact

Metals X Limited
T: (08) 9220 5700
F: (08) 9220 5757
WWW: www.metalsx.com.au



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