Broken Hill Mines Reports 118,500t Ore Mined and US$25m Financing Secured

Operational Breakthrough at Rasp

Broken Hill Mines (ASX, BHM) has delivered a landmark quarter, marking its first reporting period since relisting on the ASX in July 2025. The September quarter saw the company achieve its strongest mining and development performance at the Rasp Mine since 2022, highlighted by the completion of underground development to access the high-grade Blackwoods orebody within the Main Lode for the first time in over 50 years. This breakthrough unlocks a multi-orebody production profile, positioning BHM for a progressive increase in both production volumes and ore grades through FY26.

Record Production and Development Metrics

BHM mined a record 118,500 tonnes of ore and completed 1,157 metres of underground development during the quarter, both the highest since 2022. The processing plant milled 117,000 tonnes at a zinc equivalent grade of 4.4%, with grades expected to improve as Blackwoods ore feed ramps up. The company is transitioning from reliance on the Western Min orebody to a diversified feed from multiple sources, aiming to restore Rasp’s nameplate capacity of 750,000 tonnes per annum through infrastructure upgrades including a tailings dewatering facility.

Exploration Success at Rasp and Pinnacles

Drilling results have reinforced BHM’s growth potential. At Rasp, exceptional intercepts include 4.3 metres grading 57% zinc equivalent with high silver and lead content. Meanwhile, the Pinnacles Mine drilling program, now underway with 5,000 metres completed, has returned outstanding polymetallic results featuring significant silver, lead, zinc, gold, and copper credits. These results support plans for a near-term open pit restart and future underground mining, with an updated Mineral Resource Estimate targeted for the first half of 2026.

Financial Strength and Leadership

Financially, BHM strengthened its position with a successful A$20 million IPO and a US$25 million silver-lead concentrate offtake financing facility with Hartree Metals LLC, providing a solid funding runway for expansion. The company ended the quarter with A$36.7 million in cash and undrawn financing facilities. Leadership was bolstered by appointing Jason Morin as Chief Operating Officer, bringing extensive international mining experience, and promoting Brent Slattery to Chief Executive Officer to steer the company through its next growth phase.

Looking Ahead

With approvals underway for key expansion projects including Blackwoods stoping and infrastructure upgrades, BHM is well positioned to accelerate production growth and resource development. The company’s strategic focus on regional consolidation and multi-orebody mining at Broken Hill signals a transformative period ahead, with drilling and operational activities ramping up through FY26.