Ann: Quarterly Activities Report - June 2018, page-3

WOW what a pleasant update ! congratulations to Management and to patient shareholders ! Amazing News ! Turn-around confirmed, it is up from here !

The positive trend achieved during the last 2 weeks of june has been sustained and even improved upon for the july month ! We got also our numbers for july :

-the WCP has demonstrated excellent utilisation and reliability, with the latest availability figures averaging over 95%.

-Recovery has stabilised in a range between 70-75% so far in July.

-Since the start of July, HMC production has increased substantially averaging approximately 400t/day for the month in spite of inclement winter weather.

-This current level of performance equates to annual HMC production of approximately
135,000tpa, consistent with the 5.25Mtpa Operating Plan.


In addition, record Mining rates up to 19.9ktpd (7.2Mtpa annualised) and MFU (Mining Feed Unit) feed rates of 17.3ktpd (5.7Mtpa annualised) were already achieved in June, exceeding the  required mining feed rates for the annualized 5.25Mtpa operating plan !

+ MSP drying/sepration performance in Picton are achieved materially improved performance in the June Quarter, consistent with the Operation Plan objectives following the major upgrades completed since the start of 2018.

Management now are talking about a quantum shift in operational performance at the start of the new financial year, with both production and costs building towards a substantial improvement in the current September quarter !


IMO given current sustainable performance, going forward costs per tonne will be substantially reduced coupled with much higher production/sales/revenues and improved margins we will see extremely profitable quarters starting with a record profitable september quarter ! MZI will become soon a cash cow machine ! It is about time !

Good luck to all and happy 20x+ multi-bagger hunting !  



HIGHLIGHTS

 Significant turnaround in operational performance achieved by quarter end.

 Step change in HMC production underpins strong start to 2019 Financial Year.

 Keysbrook and Picton now functioning in accordance with “steady-state”,
5.25Mtpa Operating Plan.

 Plant reliability and availability now matching targeted industry standards.

 Robust outlook for Mineral Sands with further price increases and strong demand
being reported for both rutile and zircon products.