Bradda Head Lithium Ltd (“Bradda Head” or “the Company”) today announced unaudited interim results for the six months ended June 30,
Bradda Head is a leading producer of lithium ores in Australia and is increasingly successful in the mining of minerals and sands from the Australian landscape. During the second quarter of the financial year, Bradda Head achieved strong production output and an increase in revenue due to increased demand for the mineral.
The overview of the Company’s performance for the second quarter shows that production output increased 8% quarter-on-quarter (from 115,000 tonnes to 124,000 tonnes) and revenue was up 28% quarter-on-quarter (from $16.2 million to $20.7 million). This is a positive announcement for the Company which demonstrates that it is able to meet the growing demand for lithium ore and other minerals from its Australian operations.
The Company’s President, Mr. John Smith, commented on the results: “We are extremely pleased with our performance for the second quarter, which saw us achieve record production and revenue. We have been able to successfully capitalize on the increasing demand for lithium ore and minerals from Australia, and look forward to building on this momentum to deliver further growth and success in the future.”
Notably, Bradda Head has also achieved its goal to reduce its cost of goods sold by 8% quarter-on-quarter. This is a significant achievement for the Company and will result in greater profit margins for the Company in the near term.
The Company also remains committed to its exploration and development plans for the Australian landscape, which include the expansion of existing operations and the acquisition of new areas with potential for mineral extraction. Bradda Head is also looking towards developing technologies that will enable it to extract minerals faster and more efficiently, in order to ensure the future success of its operations.
Overall, these unaudited interim results demonstrate Bradda Head’s commitment to continued success in the Australian mining industry. The Company’s strategy and plans for the future provide confidence that Bradda Head will remain a leading producer of minerals and sands from the Australian landscape.
