Ann: Quarterly Activities Report, page-2

A well written report,

It was easy to follow and explained what all of the equipment is MRC are buying or making improvements too.

MRC does have around $11mil AUD and the CR was much needed due to lower grade from the beaches and the impacts of brining online parts for the inland strand production.

I am glad MRC finally detailed what is holding up completing the processing facility for processing the HM from the inland strand, we are now waiting for the final piece of equipment, the Filter press which is due for delivery next month. Commissioning is then expected during this QTR.

My assessment of the mining of the inland strands was correct, and the grade MRC were mining was significant, coming in at 21.3%

When you consider the grade of ilmenite is 12% vs 0.5% MRC are going to be well placed to return to cash flow positive in the next QTR.



I really liked this explanation by MRC.




I wasn't aware MRC was going to achieve a production rate of 3.9mil tonnes by installing the third PCP.

The impact on annual revenues will increase from US$60mil to US$86mil based on an average HM grade of 13.6%

It has certainly taken MRC a long time to get the inland strands back into production, it appears we are only weeks away from being able to process this material with an average grade of 20%.