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29 Metals June 2021 Quarterly Report 29Metals Limited ( '29 Metals ' or , the ' Company ' ) today reported results for the June 2021 quarter , its first quarterly report as an ASX - listed company . Highlights Both sites continue to operate in a COVID - safe manner and are effectively managing the challenges associated with interstate border travel restrictions and logistics . Strong improvement in production across both Golden Grove and Capricorn Copper relative to the Mar - Qtr as expected , with increased metal production quarter - on - quarter for all metals . C1 Costs and AISC unit costs reduced in the Jun - Qtr , driven by increased copper production and increased gold , zinc and silver by - products . Golden Grove triple sequential flotation installed in the Mar - Qtr was ramped up in the Jun - Qtr . Capricorn Copper's paste fill plant was successfully recommissioned and performing ahead of plan . Exploration drilling returned encouraging preliminary results from the resource extension program at Golden Grove's Cervantes orebody ( assays pending ) . Extension drilling continued at Gossan Valley in parallel with the Feasibility Study . Commenting on the June quarter , Managing Director & Chief Executive Officer , Peter Albert , said : " 29Metals delivered a strong June quarter relative to the March quarter , as expected , with improved production performance across all metals at both operating sites . Improvements in grade and metallurgical recovery also improved unit costs relative to the March quarter . June quarter performance , combined with progress against our pipeline of organic growth opportunities , has positioned the Company for a successful year in 2021 and beyond . It was important to demonstrate delivery of our plan following our listing and successful completion of the IPO at the beginning of July , tremendous milestones for 29Metals after many months of hard work . We are committed to delivering against our plans and driving sustainable value for our shareholders , and we thank all of our investors who supported the listing of 29Metals for putting their trust in the 29Metals team . " This quarterly report is authorised for release by the Managing Director & Chief Executive Officer . Unit Mar - Qtr 2021 Jun - Qtr 2021 2021 YTD 2021 Full Year Forecast¹ TRIFR 2 / mmhrs 8.7 9.8 9.8 N / a Copper produced Tonnes 7,205 10,330 17,535 36,775 Gold produced Ounces 5,093 12,927 18,020 40,894 Zinc produced Tonnes 7,720 12,392 20,112 54,453 Silver produced Ounces 237,027 586,203 823,230 1,914,164 Cu - eq production 3 Tonnes 11,565 18,236 29,801 67,353 C1 Costs 45 US $ / lb Cu sold $ 3.71 $ 1.87 $ 2.70 N / a AISC 45 US $ / lb Cu sold $ 5.02 $ 3.16 $ 4.00 N / a Average copper price US $ / lb Cu sold $ 3.886 $ 4.366 $ 4.156 4.28 1. 2021 Full Year Forecast ( ' 2021 Forecast ' ) information as set out in the 29Metals Prospectus dated 21 June 2021 ( the ' Prospectus ' ) . 2. TRIFR is shown as the 12 - month moving average for the period ending Mar - Qtr 2021 and Jun - Qtr 2021. Recordable injuries sustained at Capricorn Copper resulted in the company's TRIFR increasing for the quarter . 3. Cu - eq production is copper equivalent contained metal . Cu - eq . production for the Mar - Qtr 2021 , the Jun - Qtr 2021 , and 2021 YTD is based on average LME metal prices for the relevant period ( source : Bloomberg ) and actual metal recovery . Cu - eq . production for 2021 Full Year Forecast is based on Cu US $ 7,442 / t , Au US $ 1,776 / oz , Zn US $ 2,878 / t , Ag US $ 26 / oz , Pb $ 2,063 / t and recovery assumptions set out in the Prospectus . 4. Refer to Appendix 2 for the build of C1 Costs and AISC . C1 Costs and AISC have been converted to US $ at the average rate for the period ( Mar - Qtr 2021 : Mar- Qtr 2021 : 0.773 , Jun - Qtr 2021 0.770 , 2021 YTD 0.771 . Source : Bloomberg ) . 5. For C1 Costs and AISC , corporate costs shown for the Mar - Qtr 2021 and the Jun - Qtr 2021 are the costs incurred at Golden Grove and Capricorn Copper which will be reported as 29Metals corporate costs commencing in the Sep - Qtr . From the Sep - Qtr 2021 corporate costs will also include 29Metals head office costs . 6. Average copper price excludes final invoice and unrealised quotational pricing adjustments ( " QP " ) and hedging . 1