Austral posts June quarter results and $71.6M cash

• Austral reported $31 million in copper cathode sales for the June quarter, alongside an operating cash outflow of $6.8 million.
• Following the report, the company share price was down at $3.58.
• The business stated that ongoing restarts, new mining operations, and exploration programmes are expected to drive future growth.

Austral (ASX:AR1) reported $6.8 million for the June quarter ended June 30.

The company produced 1,796 tonnes of copper cathode during the period, compared with 1,990 tonnes produced in the March quarter.

"The June quarter marked another period of strong execution across the business," said Austral Chairman David Newling.

The business ended the quarter with $67.7 million in restricted cash held for rehabilitation obligations.

Following the announcement, the Austral share price was down at $3.58.

Austral operates copper mining and processing assets in Queensland, including the Mt Kelly and Rocklands facilities.

The company continues to advance exploration projects across its tenement package while managing care and maintenance at Rocklands.