The report was far better than most realise, ferrosilicon production at 33,925 tonnes is equal to 63 tonnes/furnace/day. The nameplate furnace design is for 55 tonnes/day, so whilst not as high as Dec qtr ( 2 days more also) it was still a great quarter. Sales of 30,718 tonnes was OK and as mentioned shipments were delayed end of March. Profit on OMH share at US$1000/tonne is A$20 million.
Mn alloys production of 60,540 tonnes is equal to 112 tonnes/furnaces/day, nameplate furnace design is for 90 tonnes/f/d. Sales of 57,632 tonnes, OMH profit share at US$800/tonne = A$46 million. So a conservative profit is A$66 million profit for Sarawak.
Sales of 85,296 tonnes of Mn ore at 30.53% at say and average of US$7/dmtu with little production cost should result in $15 million profit after shipping/transport for a change.
From the report the 2 x Mn converted furnaces will be coming on line about the same time as others are closed for maintenance.
Good to see OMH pay down A$8.6 million in debt for the quarter.
Ann: 31 March 2022 Quarterly Market Update, page-5
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