Meeka Metals $(MEK.AU)$ said its gold sales and revenue declined sequentially in the June quarter as issues related to productivity continued to hamper open-pit mining performance and delay access to high-grade ore, according to a Wednesday filing with the Australian bourse.

The company's gold sales hit 6,242 ounces in the June quarter, down from 8,460 ounces in the previous three-month period, while sales revenue declined to AU$38.8 million from AU$56.9 million, per the filing.

Gold production of 6,424 ounces in the June quarter increased from 6,083 ounces in the March quarter but was well below the 9,174 ounces recorded in the December 2025 quarter.

The company said higher grade underground stope ore started entering the processing blend late in the June quarter, with underground ore expected to account for roughly 40% of the blend at the Murchison gold project in Western Australia in the September quarter.

"Open pit mining was impacted by materially lower contractor mining productivities than planned, a problem which first presented in the March quarter and which has not improved," Meeka Metals said, adding that it will conclude open-pit mining this month.

The company's shares fell nearly 9% in recent Wednesday trade and earlier hit their lowest since December 2024.