Mineral testing technology company Chrysos Corporation has booked September-quarter revenue of A$5.1 million and deployed two more of its unique PhotonAssay units during the period, bringing the number of these in the field to 13.
Chrysos said sample volume processed by the units was up 14% on the fourth quarter of FY22 at 740,000, which translated into deployed-unit utilisation of 59%.
The ASX-listed company has a total of 49 PhotonAssay machines contracted or already installed and it expects to have 21 units in operation by the end of June next year (end of its FY23).
The Q1 revenue was up 9% on the previous three months. Chrysos says its total contract value stands at A$703 million.
“Our balance sheet and cash position both remain strong, with cash at $82m, supporting the company’s accelerating rollout of PhotonAssay units around the world,” CEO Dirk Treasure said.
“We continue to progress discussions with debt financiers to provide future funding capacity for further international growth into FY24.”
PhotonAssay offers a non-destructive alternative to fire assay for gold, silver and other minerals. Chrysos says it’s faster, safer, and more accurate and environmentally friendly than the age-old standard method.
Chrysos’ share price is up more than 7% in the past month to $3.34, capitalising the company at $211m.