Iluka Free Kick for MDL, page-4

Unless MDL gets to 100% of nameplate production (NP), they will struggle financially.
At 80% of NP last quarter, they have a long way to go - and most of the 20% increase will be profit!
In the 2016 Business Review, they write about TTI ramp up to NP, but no such comment about a further GCO ramp up. GCO is just "performing strongly"; "delivered to expectations" etc. No hint of when or if they will reach NP? I will assume production has plateaued until they demonstrate improvement. All may be going fine at GCO, but that is not clear from MDL reports, so I wait until the next quarterly before considering buying back in.
This project can't rely on increasing prices alone.