Hi Fulang,
Yes that is what MRC expected the EBTIDA to be once the inland strands issues are resolved,
I have found your post from Feb, where you mentioned the fines.
Reading through the September QTR report (6 months of operation after the upgrades) they were still seeing teething issues with processing the inland strands mineralisation,
Hopefully, the double efficiency cyclones will resolve these issues with the slimes/fines as they had seen an increase in recovery of the Heavey metals as details in the QTR report.
Sub-optimal fine tailings removal - Fine tailings from the Inland Strands processing circuit reduces
product grades by entraining other minerals and causing significant process plant downtime. Two
(2) solutions to this problem have been identified: (i) double efficiency cyclones to increase the
removal of fine tailings from ore upon presentation to the PCP; and (ii) a new water circulation
circuit including a fresh seawater infeed line to the secondary process plant and a return line. These
two solutions are fully funded as part of the US$10 million GMA Loan Agreement and are expected
to be in operation by the end of Q4 2023;Processing
Primary processing
ROM feed tonnes to PCP-1 and PCP-2 were higher than the previous quarter at 321Kt, representing an average
feed rate of 243tph and 69% plant utilisation. Production remains below theoretical capacity due to ongoing
seawater intake issues at both the Northern Beaches and Inland Strands, extended crusher breakdown at the
Inland Strand significantly reducing feed rates and sub-optimal fine tailings removal.
Secondary processing
Total tonnes processed by the secondary concentrator (GSP/SCP) were 71kt, compared to 61kt from the previous
quarter, with ongoing optimisation of the GSP to handle varied Inland Strand material. Management expects this
will continue to improve next quarter with several capital enhancements scheduled for the December 2023
quarter.
Anyway, it appears all of the issues were discovered before Scott took over as the CEO, we should expect the company to return to profitability when these upgrades are all completed.
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