The start of the season was a debacle but I am happy to say MMI seem to be on the right track now (mining and shipping). They have 2 excellent mining areas to source from ( BH1 and BH6). BH6 while lower quality is half the trucking distance of BH1. BH6 also includes the former Gulf Alumina resources with some great potential. You also have to take into account the transition to owner miner that hopefully brings costs down below those originally budgeted and they did mine and ship just over 800,000 tonnes over a short quarter due to the problems. From what we have seen the 3 trailer sets are working well. Consistency is needed over this quarter and there should not be the weather and start up issues of the first quarter. The financials from the last quarter are subject to speculation at present.
MMI Price at posting:
11.5¢ Sentiment: Buy Disclosure: Not Held
