Ann: Quarterly Activities Report - March 2022, page-141

Spid

You don't get it, they are wasting time mining northern beaches and blending it with mined material from the Tormin beaches to keep the wheels turning and appearances with mining/processing statistics, whilst barely making money during a period of time where the costs of fuel are at historical highs. If you take a moment you will be able to see what the price of diesel is in SA, on par with Australia.

If they have the resource as you stated above, why is this not reflected in the March 2022 quarterly results?
To me it looks like the Ilmenite, Zircon/Rutile grades are like tailings figures, when compared to the resource you have posted from the December 2021 resource statement.

Why would they even bother with time wasting and money relocating the primary processing facility from Beach 10 near Beaches 1-5 for a short term campaign if you intend on going back to Beach 7-10 now that it has replenished?
Or is it one of the options below regarding Beaches 1-5;
1. to haul the mined material from Beach 1-5, transport it north to Beach 10 to go through the primary process and then haul it again back past Beach 1-5 and complete the process at the plant on site? (Count the kilometres of haulage and watch the cash vanish)
2. to haul mined material straight from Beach 1-5 direct to the plant on the mine which is over twice the distance from the furthest beaches at Tormin itself? (hauling a lot of waste for nothing is just a waste of time and money)
Seems like a lot of wasted time, energy & money regardless of the "likely" grade as you stated above that Beaches 1-5 might have.

Being a small company they cannot absorb waste like larger companies with bigger balance sheets, which is why i said they should shut it down until they are given the go ahead with the inland strand.
The company is not in a financial position with only 2.2M in the bank to waste funds any further.

Please don't refer to the material processed at Tormin as finished as you did in your post earlier to Harris541.
This is a misrepresentation of the material that MRC sell which is concentrates only, which is sold to companies that reprocess the concentrates into finished products.
The links below for all readers to get an understanding of what MRC produces, you will see they are all concentrates.

Its interesting to read the composition of the ilmenite concentrates being sold from the product specification sheet.
Ilmenite 45-55%, and a rather large content of Garnet 45 – 54%

If MRC does build an MSP then they will have the ability to produce finished products, which should be a future goal for them if economically feasible in the long term.

https://www.mineralcommodities.com/wp-content/uploads/2019/07/MSR-OHS-PSS-0004_0-Product-Specification-Sheet-LG-Ilmenite.pdf
https://www.mineralcommodities.com/wp-content/uploads/2019/07/MSR-OHS-PSS-0007_1-Product-Specification-Sheet-Zircon.pdf
https://www.mineralcommodities.com/wp-content/uploads/2019/07/MSR-OHS-PSS-0009_2-Product-Specification-Sheet-Garnet.pdf


IMO
DYOR