MDL mineral deposits limited

Ann: 1Q 2017 Operations Review, page-3

  1. 450 Posts.
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    Management were confident of reaching nameplate production (NP) at GCO in 3rd qtr 2015.
    We are informed in the subsequent quarterly reports of all sorts of record improvements, but....
    On 1st qtr production 2017 at GCO:
    Ilmenite production is 57% of NP
    Zircon production is 57% of NP
    Rutile + Leucoxine is 54% of NP
    (No comment about the ramp-up)
    On 1st qtr production 2017 at TTI:
    Total slag (ilmenite + pig iron) production has "ramped" up to 71% of new NP (190kt + 15% upgrade).
    Tizir Ltd should be running this project solely. MDl should ensure clarity about performance and accountability to its shareholders.
 
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