MIN's Quarterly - BCI's should be Good!!!!`

For those not aware, MIN's quarterly was released during trading hours on Friday arvo......

Iron Valley extract from their report follows -

Iron Valley

‘000 wet metric tonnes Q1 FY20 Q4 FY19 Q1 FY19

Mined 1,167 1,263 2,121

Produced 1,409 1,136 1,862

Shipped 2,056 1,945 1,620

Continued strong iron ore prices and high crusher throughputs underpinned the shipping of 2.1 million wmt from Iron Valley in the quarter.

Mining commenced in the C8 pit during the quarter for blended feed with groundwater inflows increasing with depth. Mining in C8 has concentrated on deepening sumps and pumping groundwater to dewater ore ahead of mining. An upgraded pumping arrangement and larger diameter discharge pipe were installed to manage the increasing flows. The improvement in dewatering capacity has facilitated mining high-grade ore from the base of C8 and this has been supplemented by the completion of C1 including a goodbye cut, commencement of C1 Mini and accessing ore in the C8 cutback. C9 pit mining continued to provide low-phosphate ore for blending.

The Iron Valley crushing operations produced 1.4 million wmt of product for the quarter with the change in crusher strategy to feed by source and blend post-crushing enabling optimisation of throughput. The demand for fines continued through the quarter with all produced fines shipped. The 2.1 million wmt of lump and fines product shipped for the quarter exceeded the prior quarter’s shipments by 6%.


Thanks also to the traders dumping stock late on Friday - managed to pick up a few more at .165c.....Looking forward to what appears to be shaping up as a VERY POSITIVE Quarterly next week for BCI, and holders.

GLTAH.