Company Interview / Market Update | Mineral Resources, Pilbara Resources, IGO, Capricorn Metals, Droneshield, Appen

A raft of quarterly updates have been released -- with Mineral Resources reporting quarterly volumes hit a record 83 million tonnes driven by a ramp-up of its Onslow Iron mine and external volume growth. The company's FY25 production volumes hit 280 million tonnes, at the lower end of the guidance range.

Pilbara Resources has reported a jump of 77% in its June quarter production to around 220,000 tonnes. The lithium miner exceeded its FY25 production guidance and says it sees FY26 as a pivotal year where it will unlock the full value of recent investments. It expects to produce 820,000 to 870,000 tonnes of spodumene concentrate in FY26 - up from around 755,000 in this financial year.

And IGO has reported spodumene production of 340,000 tonnes in the June quarter. Underlying earnings came in at $62 million. IGO has indicated full year production finished below guidance due to continued operational issues at its Kwinana refinery in Western Australia.

Meanwhile Capricorn Metals is guiding FY26 production between 115 to 125 thousand ounces with prices between $1530 to $1630 an ounce. After its fourth quarter gold production came in just over 32-thousand ounces at an average cost of $1,381 per ounce.

Droneshield has reported a 210% increase in first half revenue to $72.3 million, which was a record. Second quarter revenue was up 480% on the prior period to $38.8 million and Droneshield's highest quarter of revenue to date. Droneshield has also received $5 million in orders under the federal government's Land156 project.

Appen has revealed its Fy25 revenue guidance is tracking towards the low end of its $235 to $260 million range. Appen reported second quarter revenue of just under $52 million.