Fortress Minerals earnings down 27.3% y-o-y for 3QFY2024

The company’s revenue was down 3.4% y-o-y to US$10.9 million in 3QFY2024, while its cost of sales increased by 3.6% y-o-y to US$3.7 million. The decrease in revenue in 3QFY2024 was due to lower volume of iron ore sold, amounting to 116,106 dry metric tonnes (DMT), representing a 11.7% decrease from 3QFY2023.