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MDL mineral deposits limited

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Not the best quarterly I must say, but far from surprising. GCO...

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Essa

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27/04/17

14:04

Post #: 24300870
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Originally posted by Ozprey64 ↑

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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Not the best quarterly I must say, but far from surprising. GCO was always going to be way down due to the mine path crossover through the tailings. Ramp up on the furnace seems to have gone to plan.

I've done a lot better on my Base shares admittedly, but not ready to give up on this one just yet.

MDL Price at posting: 52.0¢ Sentiment: Hold Disclosure: Held
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Not the best quarterly I must say, but far from surprising. GCO...

Top Stories

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