19 April 2022
March 2022 Quarterly Trading Report
The March 2022 quarter was very positive, with all divisions making a strong contribution to the result. The
results were driven by mining production, high levels of sample testing in mining exploration and industrial
markets internationally.
Consumable sales have continued to strengthen and were $2.9m during the quarter compared to $2.7m in
the Previous Corresponding Period (PCP). Both the mining and exploration sectors continue to drive large
volumes of sample testing, with long lead times for results being reported by commercial laboratories. As
expected, rising lithium prices have increased our consumable production inventories, and no impact has
been experienced on margins.
Sales of capital equipment products have been strong at $2.8m compared to $2.0m in the PCP, with orders
at record levels through the quarter. Demand has been particularly robust from the mining industry, which
has generated sales for new and replacement machines. Our order book remains at high levels, with a full
production book for the June 2022 quarter.
As part of capital equipment sales, Orbis Mining laboratory crushers delivered revenue of $1.06m during the
quarter. The forward order book is robust and growing, with production booked out for the June quarter.
The OM100 laboratory crusher is developing a significant reputation for its unique ability to take drill core
samples of 110mm down to 2mm in a single pass. The Orbis product line has been integrated into XRF’s
existing sales network, which has started to contribute to sales.
Precious Metals sales have been performing well and were $3.7m during the quarter compared to $3.5m in
the PCP. We are seeing a high level of platinum labware remanufacturing orders, as well as new product
sales related to expansion in the mining sector. Our market share in the industrial platinum markets
continues to grow, with new customers being added on a regular basis. New customers recently added
included platinum components for manufacturers of bioactive medical glass and quartz glass.
We expect the June 2022 quarter to be a strong trading period across all divisions. During this period our
key focus areas are new product developments, international sales growth, and M&A opportunities.
Please direct any inquiries to:
Vance Stazzonelli
Managing Director
+61 8 9244 0600