Ann: Quarterly Activities Report - March 2022, page-5

Hi Marcus,

The AGM is only a few months away, it will be interesting to see what vote MRC gets against the remuneration report.
I believe a 50% vote against the remuneration report will trigger a vote to spill the board.
How are you intending to vote for the resolutions?


@Tasman66 It's a little baffling why MRC would complete additional exploration at Munglinup and Norway if their cash reserves were so low. I can only speculate that they know shipping of ilmenite was going to occur in early April to replenish their funds.
I was surprised by how low the grades are at Tormin beach and the northern beaches for the QTR.
MRC is now mining the virgin beaches 1-5 which should have higher grades and the inland strands is expected to commence mining in 2 months time. It would be good if they could secure a short-term loan to get this online much sooner.