Ann: Proposed Issue of Securities - Updated, page-24

Yes Fulang, From what I can understand from the history of the announcements, the former CEO MVC thought the inland strands mineralisation could be processed through the existing production facility without any additional equipment, yet this wasn't successful. it has taken MRC nearly 2 years to resolve the issues where they have already exceeded the previous recovery rates which is evident in the QTR reports.

They have futuer optumisation needed to remove the remaining fines/slimes, which only needs better spiral classifiers and additional sea water supply.

Anyway, with AU mining putting up the $5mil investment the other week, this might be related to MRC speeding up the installation of the additional equipment required.