Ann: Results of Annual General Meeting 2016-MDL.AX, page-3

I attended the AGM as I was visiting Melbourne last week.
A few things I found of interest. MDL is driving the project - Tizir is more focusssed on day to day running.
There have been 2 price rises (?chloride slag) since Dec 2015 - confirming my own information.
A lot of supply side HMC production is ceasing. Rio ?smelter in Canada having serious approvals issues for tailings dam and production restraints in Mozambique mine, plus others.
Nic Limb thinks the price cycle should turn in 2 to 5 years.
Work has started early on refinancing the $300m Tizir debt which mature in 18 months. Nic Limb doesn't see any major issues with a deal but he thinks that may be a factor in the current low share price. The project is making money at the bottom of the commodity cycle. Still some institutional investor moving out of the register but more retail investors are seen as a benefit for the share price. All parts of the plant are now working without major issues and improvements will continue.

Josef Patrizza the COO is working /driving the improvement project. If you are a metallurgists I would contact him for more detail about improvements focus.
Dredge working well - up to 10000 tons / hour at times - above 7000 t / h design rate.
The dredge will turn once a year for the next five years.
Improving zircon recovery is now a priority.
My view is there should be steady progress in improving the Grand Cote operation during 2016 and we can hope for a gradual improvement in share price to reflect this. The Tyssedal smelter improvements are working well without any issues.