Hi Fulang - No one knows if the GM was booted out or if the...

Good Morning Fulang,

The recent resource drilling for the annual reserves (December 2021) stated the northern beaches (7 and 10) had already been replenished and contains 1.48mil tonnes at 22.83 THM. certain sections of the beaches do contain low grades or have been depleted, but these areas were recently mined.

Morning Greenfront,

The program link is -

https://apps.sentinel-hub.com/eo-browser/?zoom=15&lat=-31.55637&lng=18.0898&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fservices.sentinel-hub.com%2Fogc%2Fwms%2Fbd86bcc0-f318-402b-a145-015f85b9427e&datasetId=S2L2A&fromTime=2022-06-12T00%3A00%3A00.000Z&toTime=2022-06-12T23%3A59%3A59.999Z&layerId=1_TRUE_COLOR&demSource3D=%22MAPZEN%22

MRC recent downgrades in production have been due to mining lower grade ore, Tormin beach needs time to replenish, it's a similar story for sections of the Northern Beaches,

Below is Beach 7's resource showing high grade and low grade areas





MRC recently entered a Land Owner agreement to start mining the virgin beaches 1-5 (Northern Beach) it appears MRC started mining these areas during this QTR. along with the area's MRC drilled for the mineral resource for beach 10.

Another factor which have limited MRC is the timing of shipping. The QTR report detailed no ilmenite was shipped in the previous QTR, these delays appear to happen every 2nd QTR.

The other issues have been processing the Inland strand material, they have been working on changes to the processing to obtain better recovery of the finer heavy metals. The area has been mined (Orange in images above - Mining Pits) with approximately 400kt of HM ore ready for processing.

These pits will end up being used to store the tailings once the resource has been depleted.MRC has detailed they will recommence mining and processing of this area in the next QTR, this mineralisation contains higher grade HM than Tormin Beach and will account for 50% of the production capacity.

Hi Fulang - No one knows if the GM was booted out or if the article was from an old advertisement. Nevellieb didn't provide a link to his source and the add didn't show a date. Its pure speculation if he was booted out or the reasons why MRC needed to find a new GM. I am surprised there is no advertising for the role on LinkedIn or on Jacob's LI page, this suggests to me, that the ad is likely to be significantly older than Nevellib suggests.

Either way, the previous QTR was a train wreck, whoever was running the show needed to educate about grade control.