Ann: Production Delays - Tormin Mineral Sands, page-79

Good Morning Croc,

As I said, it appears MRC is back mining the northern beaches, they always intended to alternate between the northern beaches and Tormin beach to allow for the beaches to naturally replenish, if they had issues with securing the new fleet, they would have focused on mining at Tormin beach, which has a significantly shorter transit time, (saving of ~30-40kms)

If you read and understood the ASX announcement regarding the production delays, they clearly stated options if the water supply from the dam was for a longer duration than expected, they would use the other dams on site for water storage.

From what I can tell MRC has resolved its issues with water supply.

Regarding the loan from GM Garnet - MRC had only drawn US$3mil out of the US$11 mil facility. MRC has also detailed the works required under the loan agreement had been delayed until Q3 2024.

It would be helpful if you read companys announcements rather than relying on HC posters to obtain your information.